| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8619 Willis Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2000-08-31 |
| Transaction Price | $940,000 |
| Buyer | EKINS GEORGE W |
| Seller | ELLIS RAYMOND |
8619 Willis Ave Panorama City Multifamily Investment
This 20-unit property sits in a neighborhood with 97.4% occupancy rates and strong rental demand, supported by commercial real estate analysis indicating above-average tenant retention metrics in the Los Angeles metro.
The property sits in a Panorama City neighborhood that ranks in the 86th percentile nationally for occupancy rates at 97.4%, indicating strong rental demand fundamentals. With 77.8% of housing units renter-occupied, this area maintains one of the highest rental concentrations among Los Angeles metro neighborhoods, supporting consistent tenant pools and lease-up velocity.
Built in 1976, this property aligns with the neighborhood's average construction year of 1979, suggesting potential value-add opportunities through strategic renovations and unit improvements. The area's median contract rent of $1,493 reflects affordable positioning within the broader Los Angeles market, while home values averaging $540,245 help sustain rental demand by keeping ownership costs elevated relative to household incomes.
Demographics within a 3-mile radius show a stable tenant base with 284,800 residents and average household size of 3.4 people. The neighborhood offers solid amenity access with grocery stores, restaurants, and pharmacies ranking in the 87th to 96th percentiles nationally, supporting tenant retention. However, investors should note the area's lower educational attainment levels and below-average school ratings, which may influence long-term demographic trends.
Crime metrics show the neighborhood performing above the metro median, ranking 358th among 1,441 Los Angeles area neighborhoods and placing in the 76th percentile nationally for safety. Property offense rates have declined significantly by 72.8% year-over-year, while violent crime rates dropped 96.3%, indicating improving security conditions that support tenant retention and leasing stability.
While current crime trends show improvement, investors should monitor these metrics as part of ongoing asset management and tenant screening processes. The neighborhood's crime ranking places it in a competitive position relative to other urban core areas in the Los Angeles metro.
The property benefits from proximity to major corporate employers across entertainment, telecommunications, and technology sectors that provide workforce housing demand.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media & entertainment (8.3 miles)
- Thermo Fisher Scientific — life sciences (8.6 miles)
- Disney — entertainment — HQ (8.9 miles)
- Farmers Insurance Exchange — insurance — HQ (8.9 miles)
This 1976-built property offers value-add potential in a neighborhood demonstrating strong occupancy fundamentals and rental demand stability. According to CRE market data from WDSuite, the area maintains 97.4% occupancy rates while ranking in the 86th percentile nationally, indicating resilient tenant retention. The property's vintage presents renovation upside opportunities to capture rent premiums in a market where median contract rents remain affordable at $1,493.
Demographics within a 3-mile radius support long-term rental demand with household income growth of 36.7% over five years and projected median income increases to $94,822 by 2028. The neighborhood's 77.8% renter occupancy rate ranks among the highest in the Los Angeles metro, while proximity to major employers including Disney and Charter Communications provides workforce housing demand drivers.
- High occupancy environment with 97.4% neighborhood rates supporting lease stability
- Value-add renovation potential in 1976 vintage property
- Strong rental demand fundamentals with 77.8% renter-occupied housing units
- Growing household incomes supporting rent growth potential
- Risk consideration: Below-average school ratings may limit family tenant appeal