| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8616 Willis Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1990 |
| Units | 53 |
| Transaction Date | 2016-05-20 |
| Transaction Price | $10,275,000 |
| Buyer | 8616 Willis Ave, LLC |
| Seller | La Paloma 2013 Llc |
8616 Willis Ave, Panorama City Multifamily Investment
Neighborhood occupancy trends are strong and above metro norms, supporting income stability for a 53-unit asset, according to WDSuite’s CRE market data. Elevated ownership costs in Los Angeles further sustain renter reliance on multifamily housing in this Urban Core location.
This Urban Core neighborhood in the Los Angeles-Long Beach-Glendale metro posts high renter concentration and durable demand drivers. The share of renter-occupied housing is ranked in the top quartile among 1,441 metro neighborhoods, signaling a deep tenant base for multifamily assets. Occupancy performance is also competitive, with the neighborhood’s occupancy ranking in the top quartile among 1,441—an indicator of leasing stability rather than outsized vacancy risk.
Livability indicators skew toward convenience-oriented amenities. Cafes, restaurants, groceries, and pharmacies register in the top quartile nationally, which supports resident retention and leasing velocity for working households. Park access is limited relative to the region, which is a consideration for family-oriented positioning but can be mitigated by on-site amenities.
Within a 3-mile radius, demographic data show households have been increasing even as population edges lower—implying smaller average household sizes and a diversifying renter pool. Household incomes have risen meaningfully over the last five years, and are projected to continue growing, which can support rent levels while requiring thoughtful lease management to balance affordability pressure and retention.
Home values sit in the higher national percentiles for cost, and the value-to-income profile is elevated by national standards. In practice, this high-cost ownership market tends to reinforce multifamily demand and supports pricing power, particularly for well-managed, midscale properties. Median contract rents have grown over the past five years and are projected to advance further, consistent with metro patterns noted in WDSuite’s commercial real estate analysis.
Vintage context matters: the property’s 1990 construction is newer than the neighborhood’s average stock from the late 1970s, providing a relative competitive edge versus older buildings, while still warranting targeted system updates or common-area upgrades to drive retention and capture renovation upside.
Safety indicators for the neighborhood compare favorably in context. Crime ranks in the top quartile among 1,441 Los Angeles metro neighborhoods, and national comparisons place the area above the midline for safety. Recent data also indicate notable year-over-year declines in both property and violent offenses, according to CRE market data from WDSuite. While no submarket is risk-free, the trend and relative standing support renter confidence and leasing stability.
Nearby employment centers in media, entertainment, insurance, and life sciences expand the local renter base and shorten commutes, supporting lease-up and retention for workforce-oriented units. Key employers include Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media (8.3 miles)
- Thermo Fisher Scientific — life sciences (8.6 miles)
- Disney — entertainment (8.9 miles) — HQ
- Farmers Insurance Exchange — insurance (8.9 miles) — HQ
8616 Willis Ave offers a scale-efficient, 53-unit footprint in a renter-heavy Los Angeles Urban Core neighborhood where occupancy performance sits in the top quartile among 1,441 metro neighborhoods. The 1990 vintage is newer than the local average stock, positioning the asset competitively against 1970s-era buildings while leaving room for targeted value-add through systems modernization and common-area refreshes. Elevated ownership costs in the area tend to sustain multifamily demand, and households within a 3-mile radius are increasing even as population trends ease, implying smaller household sizes and a stable or expanding renter pool.
According to CRE market data from WDSuite, amenity access is strong by national standards, supporting retention and pricing power. Rent growth has been resilient locally, but higher rent-to-income ratios suggest careful revenue management to balance renewal rates with affordability pressure. Net operating income potential compares favorably to national medians, while attention to school quality perceptions and limited park access will help align the asset’s positioning with workforce renters.
- Top-quartile neighborhood occupancy among 1,441 metro areas supports income stability
- 1990 construction competes well against older local stock with selective value-add upside
- High-cost ownership market reinforces renter demand and supports pricing power
- Strong amenity access and proximity to major employers aid leasing and retention
- Risks: affordability pressure (higher rent-to-income), below-average school ratings, and limited park access