| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9129 Tobias Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 1998-10-21 |
| Transaction Price | $177,500 |
| Buyer | LONE OAK PANORAMA LLC |
| Seller | DALACO LLC |
9129 Tobias Ave Panorama City Multifamily Investment
This 24-unit property benefits from strong neighborhood occupancy trends at 97.8%, supported by extensive renter demand in a market where nearly 70% of housing units are renter-occupied according to CRE market data from WDSuite.
This Panorama City neighborhood ranks in the top quartile nationally for housing fundamentals, with neighborhood-level occupancy reaching 97.8% and a substantial 69.7% of housing units serving rental tenants. The area demonstrates strong renter reliance, ranking in the 97th percentile nationally for rental share, which supports consistent tenant demand and lease absorption.
Built in 1989, this property aligns with the neighborhood's average construction year of 1982, positioning it competitively within the local building stock without immediate capital expenditure pressures typical of significantly older assets. The area's amenity density supports tenant retention, with grocery stores ranking in the 99th percentile nationally and restaurant access also in the top tier.
Demographics within a 3-mile radius show a stable tenant base with 273,904 residents and median household income of $74,133. Household growth projections indicate a 31% increase in total households by 2028, expanding the renter pool and supporting occupancy stability. The current rent-to-income ratio suggests affordability pressures that may require careful lease management, though strong occupancy trends indicate market acceptance of current rental levels.
Median contract rents in the neighborhood reached $1,524, with 29% growth over five years, reflecting pricing power within this urban core location. Home values averaging $503,371 with 53% appreciation help sustain rental demand by keeping ownership costs elevated relative to rental alternatives.
The neighborhood demonstrates improving safety trends, with property crime rates declining 84% year-over-year and violent crime down 91%, both ranking in the top percentiles nationally for crime reduction. Current property crime rates rank in the middle tier among the 1,441 Los Angeles metro neighborhoods, while violent crime rates place in the lower half of metro areas.
These substantial crime reductions suggest positive momentum in neighborhood conditions, though investors should monitor trends over longer periods to assess sustainability. The significant year-over-year improvements indicate recent changes in local dynamics that may continue supporting property values and tenant retention.
The property benefits from proximity to major corporate employers across entertainment, telecommunications, and healthcare sectors that support workforce housing demand.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media & entertainment (8.5 miles)
- Thermo Fisher Scientific — healthcare & life sciences (9.1 miles)
- Disney — entertainment & media (9.1 miles) — HQ
- Farmers Insurance Exchange — insurance services (9.3 miles) — HQ
This 1989-vintage property operates within a neighborhood demonstrating exceptional rental market fundamentals, with 97.8% occupancy and 69.7% rental tenure supporting consistent tenant demand. The substantial household growth projected through 2028 — a 31% increase within the 3-mile radius — expands the renter pool while elevated home values maintain rental demand by keeping ownership alternatives costly. Commercial real estate analysis from WDSuite confirms the neighborhood's top-quartile national ranking for housing metrics.
Proximity to major employers including Disney headquarters and Charter Communications provides workforce housing appeal, while the area's amenity density ranks in the 99th percentile nationally for grocery and restaurant access. Recent crime reductions of over 80% year-over-year indicate improving neighborhood conditions, though the rent-to-income dynamics require careful lease management strategies.
- Strong occupancy fundamentals with 97.8% neighborhood rate and dominant rental tenure
- Household growth projections support expanding tenant base through 2028
- Proximity to major corporate employers including Disney and Charter Communications
- Risk consideration: Rent-to-income ratios suggest affordability pressures requiring active lease management