| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8728 Tobias Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2010-12-22 |
| Transaction Price | $2,865,000 |
| Buyer | Joseph Eshagian |
| Seller | Dennis & Rosa Lopez |
8728 Tobias Ave Panorama City Multifamily Opportunity
Neighborhood occupancy is strong and has held near the high-90s, supporting income stability for multifamily owners, according to WDSuite’s CRE market data; these figures reflect the surrounding neighborhood rather than this specific property.
Located in Panorama City within the Los Angeles-Long Beach-Glendale metro, the neighborhood scores a B and is competitive among metro neighborhoods (568th out of 1,441). High renter concentration (about seven out of ten housing units are renter-occupied) indicates a deep tenant base that supports leasing velocity and renewal potential. Occupancy in the surrounding neighborhood is elevated around the high-90% range, a positive indicator for income durability; these are neighborhood-level metrics reported by WDSuite.
Daily-needs access is a strength: restaurant and grocery density rank among the highest nationally, while pharmacies are also plentiful. The trade-off is limited park acreage locally, which investors should consider when positioning amenities. Average public school ratings in the area skew below national norms, which may matter for family-oriented renter segments.
Relative pricing dynamics favor resilient rental demand. Neighborhood home values sit in a high-cost ownership market, and the value-to-income ratio is elevated versus national norms—factors that tend to reinforce reliance on multifamily housing. At the same time, rent-to-income levels suggest some affordability pressure for renters, making thoughtful renewal and lease management important for retention.
Within a 3-mile radius, households have increased in recent years and are projected to expand further even as overall population trends edge lower, pointing to smaller household sizes and a broader renter pool. Median incomes in the 3-mile area have risen meaningfully and are projected to continue growing, which can support rent levels over time when combined with sustained neighborhood occupancy, based on CRE market data from WDSuite.
Safety indicators show the neighborhood compares favorably at the national level (around the top quartile nationwide), while conditions are competitive within the Los Angeles metro rather than among its very safest subareas. Recent WDSuite data also points to notable year-over-year declines in both property and violent offense estimates, suggesting an improving trend. These are broad neighborhood measures and not block-level estimates.
Nearby corporate employers provide a diverse employment base and commute convenience that can underpin renter demand and retention, including media, communications, insurance, and life sciences roles listed below.
- Charter Communications — communications (6.45 miles)
- Radio Disney — media (8.18 miles)
- Disney — media & entertainment (8.78 miles) — HQ
- Thermo Fisher Scientific — life sciences (8.88 miles)
- Farmers Insurance Exchange — insurance (9.15 miles) — HQ
8728 Tobias Ave is a 22-unit asset built in 1988, slightly newer than the neighborhood’s average vintage. That positioning can help competitiveness versus older stock, while investors should still plan for aging-system upgrades or selective renovations to capture value-add upside. The surrounding neighborhood shows high occupancy and a substantial renter-occupied share, indicating durable tenant depth and supportive leasing conditions, according to CRE market data from WDSuite.
Demand fundamentals are underpinned by dense amenities and proximity to diverse employment centers. Within a 3-mile radius, households are increasing and are projected to expand further even as overall population trends dip, signaling smaller household sizes and a wider renter pool that can support occupancy stability. Elevated ownership costs locally tend to sustain reliance on rentals, though rent-to-income levels call for careful pricing and renewal strategies to manage retention risk.
- High neighborhood occupancy and deep renter base support leasing stability
- 1988 vintage offers relative competitiveness with selective value-add potential
- Dense amenity access and nearby employers reinforce renter demand
- Elevated ownership costs bolster multifamily reliance and pricing power
- Risks: renter affordability pressure, limited park space, and below-average local school ratings