| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8353 Cedros Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1988 |
| Units | 60 |
| Transaction Date | 2009-12-01 |
| Transaction Price | $5,690,000 |
| Buyer | Ekins Family 1989 Trust |
| Seller | 8353 Cedros Partners LLC |
8353 Cedros Ave Panorama City Multifamily Investment
Renter demand appears resilient given a high-cost ownership market and strong neighborhood occupancy, according to WDSuite’s CRE market data. The asset’s positioning in an urban Los Angeles submarket supports stable leasing, with scope to compete on livability and convenience.
The property sits within an Urban Core neighborhood in Los Angeles County that rates B- and performs above metro median on multiple renter-relevant fundamentals. Neighborhood occupancy trends are strong (top quartile nationally), and the area shows deep renter concentration, indicating a broad tenant base to support leasing and renewals.
Everyday convenience is a local strength: restaurant and café density places the neighborhood in the top decile nationally, and grocery and pharmacy access are also well above national norms. These amenity patterns typically aid retention and reduce concessions pressure for well-managed properties.
Construction vintage across the neighborhood skews older (average 1979), while this asset’s 1988 delivery is relatively newer, offering a competitive edge versus 1970s stock; investors should still underwrite selective modernization of systems and finishes to maximize rentability and reduce long-run maintenance.
Home values in the neighborhood are elevated relative to incomes, a common dynamic in greater Los Angeles. In investor terms, a high-cost ownership market and median contract rents that have risen over the last five years reinforce reliance on multifamily housing, supporting occupancy stability and lease-up velocity for well-positioned properties.
Demographic statistics aggregated within a 3-mile radius show a modest population decline in recent years, but households have increased and are projected to expand further as average household size trends smaller. This shift generally points to a larger renter pool and continued depth of demand for professionally managed units.
Safety indicators compare favorably at the national level, with overall conditions near the top quartile nationwide. Within categories, violent and property offense levels sit closer to midrange nationally, but recent year-over-year trends point to meaningful declines in both, suggesting improving conditions supported by local enforcement and community dynamics.
As always, safety varies by block and over time. Investors should pair these neighborhood-level comparisons with on-the-ground diligence and property-specific controls (lighting, access, and management practices) to sustain resident confidence and retention.
Nearby corporate employment anchors help sustain renter demand through commute convenience and diversified industries, including telecom, media, life sciences, and insurance. Key employers in proximity include Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — telecom (6.5 miles)
- Radio Disney — media (8.0 miles)
- Thermo Fisher Scientific — life sciences offices (8.6 miles)
- Disney — entertainment (8.7 miles) — HQ
- Farmers Insurance Exchange — insurance (8.9 miles) — HQ
This 60-unit asset delivered in 1988 positions slightly newer than the surrounding neighborhood average, offering a practical edge over older stock while leaving room for targeted value-add to enhance rents and reduce capex variability. Neighborhood occupancy is strong and renter concentration is high, supporting lease stability and a deeper tenant base. Based on commercial real estate analysis from WDSuite, the area’s high-cost ownership landscape and robust amenity access reinforce multifamily demand and retention potential.
Within a 3-mile radius, households have been increasing and are projected to grow further as household sizes trend smaller, signaling ongoing renter pool expansion even as broader population growth softens. Investors should underwrite for affordability pressure in line with Los Angeles norms and remain selective on capital plans to maintain competitiveness against newer comparables.
- Occupancy strength and high renter-occupied share support demand depth and renewal stability.
- 1988 vintage offers relative competitiveness versus 1970s stock with targeted modernization upside.
- Amenity-rich urban location aids lease retention and reduces concession pressure.
- Household growth within 3 miles points to a larger renter pool and ongoing leasing momentum.
- Risks: affordability pressure and softer population growth require disciplined rent management and asset-specific improvements.