| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8623 Cedros Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1986 |
| Units | 29 |
| Transaction Date | 2007-03-15 |
| Transaction Price | $3,250,000 |
| Buyer | PROPERTY PLUS LLC |
| Seller | AMZ & ASSOCIATES INC |
8623 Cedros Ave, Panorama City Multifamily Investment
Neighborhood occupancy trends are resilient and sit in the stronger tier nationally, supporting durable renter demand according to WDSuite’s CRE market data.
This Urban Core neighborhood in Panorama City shows solid fundamentals for workforce-oriented rentals. Amenity access is robust — dining, groceries, and pharmacies rank in the top quartile nationally — which helps sustain day-to-day convenience and leasing appeal. Park access is sparse, so outdoor-space features at the property may carry added value for tenants.
Occupancy across the neighborhood is in the top quartile nationally, pointing to stable rent rolls and limited downtime between turns. The area has a high share of renter-occupied housing units, indicating a deep tenant base and steady leasing pipelines rather than reliance on a small subset of prospects. Median contract rents benchmark above many U.S. neighborhoods, while school ratings track below national averages — a mixed dynamic that favors working-age renter demand but may temper family-driven leasing velocity.
Within a 3-mile radius, households have grown even as overall population edged lower, implying smaller household sizes and a gradual rebalancing toward more housing demand per resident. Forward-looking data suggests additional household expansion alongside rising incomes, which can support occupancy stability and measured rent growth over time. In a high-cost ownership market (home values and value-to-income ratios rank well above national norms), renting remains comparatively more accessible, reinforcing reliance on multifamily housing and aiding retention.
The property’s 1986 vintage is newer than the neighborhood’s average stock from the late 1970s, offering a relative competitive edge versus older buildings. That said, systems at this age typically benefit from targeted modernization and value-add upgrades, supporting both operating stability and potential rent positioning based on condition and finishes. These takeaways are grounded in commercial real estate analysis from WDSuite for the Los Angeles-Long Beach-Glendale metro.
Safety metrics in this neighborhood compare favorably to many U.S. areas, sitting in the safer half nationally on major indicators. Recent year-over-year trends show sharp declines in both violent and property offense estimates, which, if sustained, can support tenant retention and leasing confidence. As with any urban submarket, conditions can vary by block and over time; investors should evaluate on-the-ground patterns and property-level measures alongside these metro- and national-context indicators from WDSuite.
Proximity to established employers across media, insurance, and life sciences underpins renter demand, offering commute-friendly options that can support leasing stability. Notable nearby employers include Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — telecommunications (6.5 miles)
- Radio Disney — media (8.2 miles)
- Thermo Fisher Scientific — life sciences (8.7 miles)
- Disney — media & entertainment (8.8 miles) — HQ
- Farmers Insurance Exchange — insurance (9.0 miles) — HQ
8623 Cedros Ave is a 29-unit asset positioned in a renter-heavy Panorama City neighborhood where occupancy performance ranks in the stronger tier nationally and everyday amenities are abundant. The 1986 vintage is newer than much of the local stock, suggesting competitive positioning with scope for targeted renovations to enhance durability and rentability. Elevated ownership costs in the area tend to sustain rental demand and support retention, while within a 3-mile radius households are increasing even as population trends ebb — a pattern consistent with smaller household sizes and a gradually expanding renter pool. These dynamics are supported by WDSuite’s commercial real estate analysis for the Los Angeles metro.
Investor considerations include balancing pricing power with rent-to-income pressures, and addressing below-average school ratings that could influence family-centric demand. Overall, the combination of strong neighborhood occupancy, deep renter concentration, and proximity to major employers provides a pragmatic basis for long-term cash flow stability, with value-add potential tied to selective modernization.
- Strong neighborhood occupancy supports stable leasing and limited downtime
- Newer-than-average 1986 vintage offers competitive positioning with renovation upside
- High-cost ownership market reinforces multifamily demand and tenant retention
- Household growth within 3 miles indicates a larger tenant base over time
- Risks: rent-to-income pressure and below-average school ratings require careful lease management