| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8600 Willis Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1975 |
| Units | 28 |
| Transaction Date | 1997-07-03 |
| Transaction Price | $109,000 |
| Buyer | LAM DONNA F |
| Seller | WEISS HENRY |
8600 Willis Ave, Panorama City Multifamily Investment Opportunity
Neighborhood fundamentals point to steady renter demand and durable occupancy, according to CRE market data from WDSuite. For investors, the submarket’s high share of renter-occupied units and convenient access to daily amenities support leasing stability.
The property sits in an Urban Core neighborhood in Panorama City with a B- rating, where neighborhood occupancy is strong and renter concentration is high, signaling depth of the tenant base and supporting retention. Compared with Los Angeles-Long Beach-Glendale’s 1,441 neighborhoods, the area’s occupancy performance ranks in the top quartile nationally and is competitive within the metro.
Daily-life amenities are a notable strength: restaurant and cafe density trends in the top deciles nationally, with pharmacies and grocery options also above national norms. This concentration of services typically shortens resident commutes for essentials and can reinforce lease-up velocity. A trade-off is limited park access in the immediate area, which investors should weigh against the otherwise strong retail and service coverage.
Home values in the neighborhood are elevated versus many U.S. areas, characteristic of a high-cost ownership market in Los Angeles County. That backdrop generally sustains reliance on multifamily housing, supporting pricing power, while the neighborhood’s rent-to-income profile indicates some affordability pressure that warrants active lease management and renewal discipline.
Within a 3-mile radius, WDSuite’s data shows recent population contraction but an increase in household counts and rising incomes, with projections calling for continued household growth and smaller average household sizes through 2028. For multifamily, that mix suggests a larger, more diversified renter pool over time, supporting occupancy stability even as demographics shift.
Vintage and positioning: Built in 1975, the asset is slightly older than the neighborhood’s average vintage (late-1970s). Investors should anticipate targeted capital expenditure or value-add modernization to bolster competitiveness against newer stock while leveraging existing demand drivers.
Neighborhood safety indicators compare favorably in the metro context, ranking in the top quartile among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Nationally, overall crime measures track above average safety levels, according to WDSuite’s CRE market data.
Recent trend data shows notable year-over-year improvement in both property and violent offense rates for the neighborhood. While conditions can vary block to block, the directional trend and comparative standing suggest a supportive backdrop for tenant retention and leasing.
Proximity to diversified corporate employers supports a broad workforce renter base and commute convenience. Notable nearby employers include Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media (8.2 miles)
- Thermo Fisher Scientific — life sciences offices (8.6 miles)
- Disney — entertainment (8.9 miles) — HQ
- Farmers Insurance Exchange — insurance (8.9 miles) — HQ
This 1975-vintage, 28-unit asset is positioned in a renter-heavy Panorama City neighborhood where occupancy has been resilient and daily amenities are dense. According to CRE market data from WDSuite, neighborhood metrics compare favorably within the Los Angeles metro and sit above national norms for key drivers like amenity access and overall occupancy, supporting leasing durability and pricing power. The building’s slightly older vintage points to a pragmatic value-add path: systems upgrades and unit renovations can sharpen competitiveness against newer stock while leveraging a deep tenant base.
Within a 3-mile radius, household counts have been rising and are projected to continue increasing as average household sizes decline, implying a broader renter pool over time. At the same time, a high-cost ownership market reinforces multifamily demand, while rent-to-income dynamics call for disciplined revenue management to balance growth with retention. Investors should also weigh softer school ratings and limited park access as part of underwriting and community engagement strategies.
- Renter-heavy neighborhood with above-metro occupancy trends supports stable leasing
- Dense amenity base (restaurants, cafes, pharmacies, groceries) enhances resident convenience
- 1975 vintage offers value-add and CapEx upgrade potential to strengthen competitive positioning
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risks: affordability pressure, limited park access, and softer school ratings require active asset and lease management