| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8856 Willis Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1976 |
| Units | 23 |
| Transaction Date | 1995-03-23 |
| Transaction Price | $500,000 |
| Buyer | COLONY FBP PARTNERS LP |
| Seller | DESAI ABDUL AJIJ |
8856 Willis Ave, Panorama City Multifamily Investment
Neighborhood occupancy is consistently high with a deep renter base, according to WDSuite’s CRE market data, supporting stable leasing fundamentals for this asset.
Panorama City’s Urban Core location offers strong everyday convenience for renters. Dining and daily-needs access test well above national norms, with restaurants, cafes, groceries, and pharmacies concentrated at levels that support car-light living and steady tenant retention. These amenity strengths translate into competitive positioning for workforce-oriented multifamily relative to many Los Angeles submarkets.
From an income-property standpoint, the neighborhood’s occupancy trend sits in the top quartile among 1,441 metro neighborhoods, and rents benchmark in the upper tiers nationally. Median home values are elevated versus much of the country, which tends to reinforce reliance on multifamily and can support pricing power and lease-up velocity when units are well-finished and correctly positioned.
Tenant depth is a core attribute: the share of housing units that are renter-occupied is exceptionally high (near the top nationally), indicating a large, durable renter pool. Within a 3-mile radius, households have increased even as population edged down slightly over the last five years, pointing to smaller household sizes and more households overall—factors that generally support occupancy stability and demand for rental units.
Considerations for underwriting include below-median school ratings (nationally) that may temper appeal to some family renters and limited park access within the immediate neighborhood. The average construction year locally is late-1970s; with a 1976 vintage, this property may benefit from targeted capital plans and value-add upgrades to stay competitive with newer stock while managing operating expenses.
Safety metrics are competitive among Los Angeles neighborhoods: the area ranks in the stronger cohort (top quartile) out of 1,441 metro neighborhoods. Nationally, indicators for both violent and property offenses track above the median for safety, and recent trend data point to notable year-over-year improvement. For investors, this suggests comparatively supportive conditions for resident retention versus lower-ranked parts of the metro.
Nearby corporate employers provide a diversified white-collar employment base and commute convenience that supports renter demand and lease stability. Notable employers within roughly 7–9 miles include Charter Communications, Radio Disney, Thermo Fisher Scientific, Farmers Insurance Exchange, and Disney.
- Charter Communications — telecommunications (6.7 miles)
- Radio Disney — media (8.46 miles)
- Thermo Fisher Scientific — life sciences (8.76 miles)
- Farmers Insurance Exchange — insurance (9.01 miles) — HQ
- Disney — entertainment (9.05 miles) — HQ
This 23-unit, 1976-vintage asset sits in a renter-heavy Los Angeles neighborhood where occupancy performance is in the top quartile locally and amenity access is strong. Elevated home values in the area reinforce sustained renter reliance on multifamily housing, while household counts within a 3-mile radius have risen despite modest population contraction—conditions that generally support a larger tenant base and steady absorption. Based on CRE market data from WDSuite, neighborhood rent levels and occupancy trends remain competitive versus national benchmarks, underscoring durable demand.
The vintage suggests targeted capital planning—exterior, systems, and interior modernization—to maintain competitiveness versus newer properties and to unlock value-add potential. Underwriting should also account for renter affordability pressure common to high-cost Los Angeles submarkets and for below-median school ratings, which may influence unit mix strategy and renewal management. Net-net, the location’s renter concentration, amenity density, and proximity to major employers support a long-term hold with operational focus.
- Occupancy performance in the top quartile locally supports leasing stability
- Large renter-occupied share indicates deep tenant base and demand resilience
- Elevated ownership costs in the area bolster multifamily pricing power
- 1976 vintage offers value-add and CapEx upgrade pathways to enhance competitiveness
- Risks: renter affordability pressure, below-median school ratings, and modest population softness