| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9628 Van Nuys Blvd, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 2008 |
| Units | 69 |
| Transaction Date | 2005-06-25 |
| Transaction Price | $2,400,000 |
| Buyer | GPC PROFESSIONALS INC |
| Seller | PARK JONG JOO |
9628 Van Nuys Blvd Panorama City Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data. Investors should weigh strong amenity access and a deep renter base against local school ratings and park access when underwriting.
This Urban Core location in Panorama City benefits from robust daily-needs convenience: restaurants and groceries rank in the upper national percentiles (restaurants near the 99th percentile; groceries also near the 99th), supporting leasing appeal and resident retention. Pharmacies test in a strong national band as well (low-90s percentile), while cafes skew well above average. Park access is limited, which may lessen outdoor amenity appeal and should be considered in marketing strategy.
At the metro level, the neighborhood is competitive among the 1,441 Los Angeles-Long Beach-Glendale neighborhoods (overall rank around the top 40%), with an above-median neighborhood housing score nationally (low-80s percentile). Occupancy at the neighborhood level has held in the upper-90% range and sits in the top-quartile nationally, which supports income stability through typical cycles.
The property’s 2008 vintage is newer than the neighborhood’s average construction year (early 1980s). Newer stock can offer a competitive edge versus older assets in the submarket; investors should still plan for periodic system updates and selective renovations to keep positioning sharp against newer deliveries.
Tenure patterns favor multifamily: approximately 70% of neighborhood housing units are renter-occupied, indicating a deep local tenant base rather than “rental occupancy.” In the 3-mile radius, households have expanded in recent years and are projected to continue increasing even as population trends edge down, implying smaller household sizes and a larger pool of renting households. Median contract rents have risen historically and are projected to grow further, while a high value-to-income environment in Los Angeles County suggests a high-cost ownership market that can reinforce reliance on rental housing. Lease management should account for some affordability pressure (rent-to-income is elevated for the area), balancing pricing power with retention goals.
School ratings in the neighborhood average below national medians, which may influence unit mix appeal for family renters; targeted upgrades and amenities can help offset this. Overall, the combination of amenity density, renter concentration, and top-quartile national occupancy, based on CRE market data from WDSuite, underpin a straightforward workforce-oriented leasing thesis.
Safety indicators are mixed but generally competitive versus many U.S. neighborhoods: the area trends in the upper national percentiles for overall safety (around the mid-70s percentile nationally). Within the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods), the neighborhood performs competitively, and recent data show notable year-over-year declines in both violent and property offenses, according to WDSuite. Conditions can vary by block and time of day, so investors typically underwrite with conservative assumptions and emphasize well-lit common areas, access controls, and active management.
The employment base within a sub-12 mile commute features media, telecommunications, life sciences, and insurance offices, supporting workforce housing demand and retention for renters employed by Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Farmers Insurance Exchange.
- Charter Communications — telecommunications (6.8 miles)
- Radio Disney — media (8.9 miles)
- Disney — media & entertainment (9.4 miles) — HQ
- Thermo Fisher Scientific — life sciences (9.5 miles)
- Farmers Insurance Exchange — insurance (9.7 miles) — HQ
This 69-unit, 2008-vintage asset aligns with renter-driven dynamics in Panorama City. Neighborhood occupancy has remained in the upper-90% range and sits in the top quartile nationally, while renter-occupied housing approaches 70%, indicating depth in the tenant base. Strong amenity density (restaurants, groceries, pharmacies) supports day-to-day livability and leasing velocity, and the building’s newer vintage is positioned to compete against older local stock with targeted capital plans. According to CRE market data from WDSuite, ownership costs in the area are elevated relative to incomes, which tends to sustain rental demand and supports pricing power when balanced with retention.
Counterpoints include below-median school ratings, minimal park access, and signs of affordability pressure, so prudent underwriting should assume measured rent growth and continued focus on renewal strategies. Demographic patterns within a 3-mile radius show households expanding even as population trends ease, pointing to smaller household sizes and a broader renter pool to support occupancy stability over time.
- Newer 2008 construction relative to the neighborhood average, reducing near-term CapEx versus older stock
- Top-quartile national occupancy and high renter-occupied share underpin income durability
- Dense amenities (food, grocery, pharmacy) support leasing velocity and resident retention
- High-cost ownership context reinforces multifamily demand when paired with disciplined lease management
- Risks: below-median school ratings, limited park access, and affordability pressure warrant conservative underwriting