| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8434 Willis Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1974 |
| Units | 72 |
| Transaction Date | 2002-02-05 |
| Transaction Price | $3,100,000 |
| Buyer | YARMOT LLC |
| Seller | WILLIS PROPERTIES LLC |
8434 Willis Ave Panorama City Multifamily Investment
This 72-unit property built in 1974 operates in a renter-dominated neighborhood with 97.4% occupancy rates and strong tenant retention dynamics, according to CRE market data from WDSuite.
The Panorama City neighborhood ranks in the top quartile nationally for occupancy stability, with 97.4% occupancy rates that exceed metro averages. With 77.8% of housing units renter-occupied, the area maintains strong rental demand fundamentals supported by limited ownership alternatives given the 9.3 value-to-income ratio.
Built in 1974, this property aligns with the neighborhood's average construction vintage of 1979, suggesting manageable capital expenditure planning relative to newer value-add opportunities. Demographic data within a 3-mile radius shows 288,000 residents with 61.1% renter-occupied housing units, indicating sustained rental market depth.
The neighborhood benefits from above-average amenity access, ranking in the 75th percentile nationally with strong restaurant density (19.5 per square mile) and grocery accessibility (2.5 per square mile). Median contract rents of $1,493 reflect competitive positioning within the Los Angeles metro, with 36.8% rent growth over five years supporting revenue potential.
Projected household income growth to $93,107 by 2028 represents a 32% increase from current levels, while forecast rent growth of 30% suggests continued affordability pressures that reinforce rental housing demand in this urban core location.
The neighborhood demonstrates improving safety trends with property crime rates declining 72.8% year-over-year, ranking in the 96th percentile nationally for crime reduction. Violent crime rates also decreased significantly by 96.3%, placing the area in the top tier nationally for safety improvements.
Current crime metrics place the neighborhood above metro median among 1,441 Los Angeles area neighborhoods, with property offense rates of 242 per 100,000 residents and violent crime at 24 per 100,000 residents. These downward trends support tenant retention and leasing stability for multifamily operators.
The property benefits from proximity to major corporate employers within the greater Los Angeles market, providing workforce housing opportunities for a diverse tenant base.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media & entertainment (8.2 miles)
- Thermo Fisher Scientific — life sciences (8.6 miles)
- Disney — entertainment & media (8.8 miles) — HQ
- Farmers Insurance Exchange — insurance services (8.9 miles) — HQ
This 72-unit property offers stable cash flow potential in a neighborhood with 97.4% occupancy rates and strong renter demographics. The 1974 construction year provides value-add renovation opportunities while maintaining competitive positioning in a market with 36.8% rent growth over five years. Demographic projections show household income growth to $93,107 by 2028, supporting rent escalation potential in an area where 77.8% of units are renter-occupied.
The investment case centers on occupancy stability and rental demand depth in an urban core location with improving safety metrics and proximity to major employers including Disney and Charter Communications. Commercial real estate analysis indicates sustained fundamentals with declining crime rates and strong amenity access supporting tenant retention.
- High occupancy environment with 97.4% neighborhood rates exceeding metro averages
- Strong rental demand supported by 77.8% renter-occupied housing units
- Value-add potential from 1974 vintage with renovation upside opportunities
- Projected household income growth of 32% supporting rent escalation potential
- Risk consideration: Lower school ratings may limit family tenant appeal