| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9213 N Van Nuys Blvd, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1986 |
| Units | 72 |
| Transaction Date | 1994-01-25 |
| Transaction Price | $2,890,000 |
| Buyer | STATE STREET BANK & TRUST COMPANY |
| Seller | T D SERVICE COMPANY |
9213 N Van Nuys Blvd Panorama City Multifamily Investment
Neighborhood occupancy is elevated with a deep renter-occupied housing share, supporting leasing stability for multifamily, according to WDSuite’s CRE market data.
The property sits in an Urban Core neighborhood within the Los Angeles-Long Beach-Glendale metro that is competitive among 1,441 metro neighborhoods (B rating, neighborhood rank 568). Neighborhood occupancy trends remain in the top quartile nationally, indicating steady renter demand and low downtime risk for stabilized assets.
Amenity access is a clear strength: restaurants and grocery options rank near the top nationally, with pharmacies and cafes also abundant. While park access is limited, day-to-day convenience supports renter retention and leasing velocity. Average school ratings in the area are below national midpoints, which can shape tenant mix toward workforce households rather than school-driven demand.
Renter concentration is high (renter-occupied housing share sits well above the metro median), expanding the tenant pool for a 72-unit asset. Elevated home values relative to incomes signal a high-cost ownership market in the neighborhood, which tends to sustain multifamily reliance and supports pricing power, though lease management should account for rent-to-income affordability pressure.
Within a 3-mile radius, recent years show a modest population dip alongside growth in households and families, pointing to smaller household sizes and a broader base of renting households. Forward-looking data indicates continued household growth with further reductions in average household size, which can support occupancy stability and unit absorption even as demographics shift, based on CRE market data from WDSuite.
Built in 1986 versus a neighborhood average vintage of 1982, the asset is slightly newer than local stock, aiding competitive positioning against older properties. Investors should still plan for targeted modernization of common areas and systems to capture value-add upside and align with current renter expectations.
Safety metrics compare favorably in a national context, with the neighborhood landing in the safer top quartile nationwide and competitive among Los Angeles-Long Beach-Glendale neighborhoods. Recent data also points to notable year-over-year reductions in both property and violent offenses, indicating improving trends that can support resident retention and asset operations.
As with most urban submarkets, conditions can vary by block and over time, so investors should validate on-the-ground patterns and property-level controls as part of standard diligence.
Proximity to major media, telecom, and insurance employers supports workforce housing demand and commute convenience for renters, including Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Farmers Insurance.
- Charter Communications — telecom & media operations (6.61 miles)
- Radio Disney — media offices (8.55 miles)
- Disney — entertainment studios & corporate (9.09 miles) — HQ
- Thermo Fisher Scientific — life sciences offices (9.19 miles)
- Farmers Insurance Exchange — insurance (9.42 miles) — HQ
This 72-unit, 1986-vintage asset benefits from a renter-driven Urban Core location with nationally strong occupancy, dense daily amenities, and high-cost ownership dynamics that reinforce reliance on multifamily. Household growth within a 3-mile radius—paired with smaller average household sizes—suggests a broadening renter base that supports lease-up and renewal performance over time.
According to commercial real estate analysis from WDSuite, the neighborhood’s renter concentration and top-quartile occupancy provide a favorable backdrop for income stability, while the slightly newer vintage versus local stock positions the property for targeted renovations to enhance competitiveness. Investors should manage affordability pressure and school-rating perception with thoughtful lease strategies and value-add upgrades.
- Renter-heavy neighborhood and top-quartile occupancy support stable demand and lower downtime risk.
- Dense amenity base (restaurants, groceries, pharmacies, cafes) underpins retention and leasing.
- 1986 construction offers a slight age advantage over local stock with value-add modernization potential.
- High-cost ownership market sustains multifamily reliance and supports pricing power over cycles.
- Risks: affordability pressure (rent-to-income), limited park access, and below-average school ratings warrant proactive asset and lease management.