| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9040 Cedros Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1977 |
| Units | 39 |
| Transaction Date | 1997-10-13 |
| Transaction Price | $960,000 |
| Buyer | 20446-56 SATICOY ST APARTMENTS |
| Seller | FBN CEDROS #1 LTD |
9040 Cedros Ave Panorama City Multifamily Investment
High renter concentration and sustained neighborhood occupancy point to durable leasing performance, according to WDSuite’s CRE market data.
Panorama City’s Urban Core setting offers strong day-to-day convenience for renters. Grocery access is a clear strength (near the top of metro peers), and dining density ranks among the most competitive in Los Angeles. Parks are limited within the neighborhood footprint, which may shift appeal toward properties with on-site open space or nearby private recreation.
Neighborhood operating fundamentals are solid: occupancy is high and trending slightly higher, and the area sits in the top quartile among 1,441 metro neighborhoods for both occupancy and amenities. The neighborhood’s NOI per unit benchmark also ranks competitively among Los Angeles submarkets, signaling healthy rent-to-expense dynamics for comparable assets.
The housing stock skews renter-occupied at roughly seven in ten units, indicating a deep tenant base for multifamily demand rather than owner-occupied turnover. Median contract rents have risen meaningfully over the past five years, consistent with broader Los Angeles trends, while elevated ownership costs locally tend to sustain rental demand and support lease retention.
Within a 3-mile radius, population has edged down modestly over five years while household counts increased, and forecasts point to further growth in households alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability. Incomes in the 3-mile area have been trending higher, which helps absorption and provides some room for measured rent growth management, based on commercial real estate analysis from WDSuite.
Relative safety indicators are favorable compared to many neighborhoods nationally, with the area positioned above average on national comparisons and above the metro median among 1,441 Los Angeles neighborhoods. Recent data also show notable year-over-year declines in both property and violent offense estimates, suggesting an improving local trend rather than an isolated datapoint.
As always, investors should evaluate property-level security measures and block-level context during diligence, but current neighborhood trends point to stable conditions that support tenant retention and leasing.
Proximity to major corporate employers supports workforce housing demand and commute convenience for residents, including roles in telecommunications, media, life sciences, and insurance that appear in the nearby employment base.
- Charter Communications — telecommunications (6.7 miles)
- Radio Disney — media (8.5 miles)
- Thermo Fisher Scientific — life sciences offices (8.9 miles)
- Disney — entertainment (9.1 miles) — HQ
- Farmers Insurance Exchange — insurance (9.2 miles) — HQ
This 39-unit property, built in 1977, is slightly older than the neighborhood average vintage and may offer value-add potential through targeted renovations and system updates. Neighborhood fundamentals are supportive: high occupancy, a deep renter-occupied housing base, and strong amenity access underpin demand. Elevated ownership costs in the area reinforce reliance on multifamily, while within a 3-mile radius, household counts are rising and average household size is trending lower—conditions that typically expand the renter pool and support leasing stability.
According to CRE market data from WDSuite, the neighborhood ranks in the top quartile among 1,441 Los Angeles neighborhoods for occupancy and amenities, with competitive NOI-per-unit benchmarks relative to metro peers. Rent-to-income levels warrant thoughtful lease management, but upward income trends and steady renter demand suggest balanced pricing power with prudent underwriting. Overall, the asset presents a pragmatic path to stable cash flow with clear renovation upside and manageable, well-understood risks.
- High neighborhood occupancy and deep renter-occupied share support demand stability
- 1977 vintage offers value-add potential through unit and system upgrades
- Strong amenity and grocery access enhances resident retention and leasing
- High-cost ownership market reinforces multifamily reliance and pricing durability
- Risks: limited neighborhood park space, below-average school ratings nationally, and affordability pressure requiring disciplined rent growth