| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8938 Tobias Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1988 |
| Units | 52 |
| Transaction Date | 2015-08-10 |
| Transaction Price | $6,700,000 |
| Buyer | Sussex Capital Group |
| Seller | Benedict Canyon Equities |
8938 Tobias Ave Panorama City Multifamily Investment
Neighborhood occupancy trends remain solid and renter demand is deep, according to CRE market data from WDSuite, supporting stable performance for a 52-unit 1988 asset in Los Angeles County.
Panorama City s Urban Core setting offers strong daily-needs convenience grocery and restaurant density rank competitively among 1,441 Los Angeles metro neighborhoods which supports resident retention and leasing velocity. School ratings track below national medians, which can temper family-focused demand, but the immediate trade area s retail and services mix remains a draw for working households.
Occupancy in the neighborhood is in the top quartile nationally and above the metro median (rank 287 of 1,441), per WDSuite s CRE market data a positive read-through for stability. Renter-occupied housing accounts for a high share of units (rank 181 of 1,441; top quartile nationally), indicating a sizable tenant base that can support absorption and renewal rates for multifamily operators.
Within a 3-mile radius, households increased even as population edged lower over the last five years, pointing to smaller household sizes and a steady renter pool; projections through 2028 show continued growth in household counts alongside further right-sizing, which typically supports occupancy and diversified unit demand. The property s average unit size of 694 sq. ft. aligns with demand from smaller households and singles.
Home values are elevated for the area and the value-to-income relationship is high relative to national norms, reinforcing reliance on rental housing and aiding pricing power. At the same time, rent-to-income levels suggest some affordability pressure, making disciplined lease management and amenity-driven differentiation important for retention. The asset s 1988 vintage is slightly newer than the neighborhood s average construction year (1982), which can provide a competitive edge versus older stock, though investors should still plan for modernization of systems and targeted interior upgrades to drive NOI.
Relative to U.S. neighborhoods, the area benchmarks favorably for safety (around the 74th percentile nationally), and it performs above the metro median (rank 415 of 1,441) among Los Angeles neighborhoods. Recent year-over-year estimates indicate notable declines in both property and violent offenses, according to WDSuite s CRE market data, suggesting improving conditions rather than a spike in incidents.
Investors should view these as neighborhood-level indicators, not block-specific guarantees, and continue standard risk assessments such as lighting, access control, and partnership with local public safety resources.
Nearby employers span media, telecommunications, life sciences, and insurance supporting a broad renter base and commute convenience for workforce housing. Key names include Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Farmers Insurance.
- Charter Communications telecommunications (6.5 miles)
- Radio Disney media (8.4 miles)
- Disney entertainment (8.9 miles) HQ
- Thermo Fisher Scientific life sciences (9.0 miles)
- Farmers Insurance Exchange insurance (9.2 miles) HQ
This 52-unit, 1988-vintage asset in Panorama City benefits from a high renter concentration and neighborhood occupancy that sits above the Los Angeles metro median, supporting durable cash flow potential. Elevated home values and a high value-to-income relationship point to a high-cost ownership market that sustains multifamily demand. Within a 3-mile radius, household counts have risen despite modest population contraction, indicating smaller household sizes and a steady renter pool that can underpin leasing and renewals. Based on commercial real estate analysis from WDSuite, these fundamentals compare favorably to broader national trends for similarly positioned urban neighborhoods.
Operationally, the asset s slightly newer-than-average vintage provides a competitive posture versus older stock, while still offering scope for targeted renovations and system upgrades to enhance NOI. Risks to underwrite include below-median school ratings, limited nearby park space, and pockets of affordability pressure that call for careful rent setting and retention tactics.
- Above-metro occupancy and high renter concentration support stable leasing
- High-cost ownership context reinforces rental demand and pricing power
- Household growth within 3 miles expands the tenant base despite population softness
- 1988 vintage offers value-add via targeted interior and systems updates
- Monitor risks: school ratings, limited parks, and rent-to-income pressures