| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9640 Van Nuys Blvd, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 2009 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9640 Van Nuys Blvd Panorama City Multifamily Investment
This 81-unit property built in 2009 benefits from strong neighborhood-level occupancy at 97.8% and a rental-dense market with 69.7% of units occupied by renters, according to CRE market data from WDSuite.
This Panorama City neighborhood ranks in the top quartile nationally for amenity access, with exceptional density of restaurants (52.3 per square mile) and grocery stores (8.6 per square mile) supporting tenant retention and leasing velocity. The area maintains strong rental fundamentals with 69.7% of housing units renter-occupied and neighborhood-level occupancy at 97.8%, ranking in the 88th percentile nationally.
Demographics within a 3-mile radius show a stable renter base of approximately 262,000 residents with median household income of $75,567. Five-year projections indicate household income growth to $102,673 and rent increases to $2,108, suggesting sustained affordability pressure that reinforces rental demand. The property's 2009 construction year positions it as newer than the neighborhood average of 1982, potentially reducing near-term capital expenditure needs.
Current median contract rent of $1,648 reflects a 33.6% increase over five years, with the neighborhood ranking in the 79th percentile nationally for rent levels. Home values averaging $503,371 with 52.7% appreciation over five years create elevated ownership costs that sustain rental demand and support occupancy stability for multifamily properties.
The neighborhood shows improving safety trends with property crime rates declining 84.1% year-over-year and violent crime down 91.1%, ranking in the 98th and 99th percentiles nationally for crime reduction. Current property offense rates of approximately 200 per 100,000 residents place the area competitively among Los Angeles metro neighborhoods, ranking 463rd of 1,441 neighborhoods regionally.
These downward crime trends support tenant retention and leasing stability, with the neighborhood's overall crime ranking in the 74th percentile nationally indicating above-average safety conditions relative to comparable urban markets.
The property benefits from proximity to major corporate employers within the Los Angeles metro, providing workforce housing opportunities for professionals in media, entertainment, and financial services.
- Charter Communications — telecommunications (6.8 miles)
- Radio Disney — media & entertainment (8.9 miles)
- Disney — entertainment & media (9.4 miles) — HQ
- Thermo Fisher Scientific — life sciences (9.5 miles)
- Farmers Insurance Exchange — insurance (9.7 miles) — HQ
This 81-unit property presents a compelling investment opportunity anchored by strong rental market fundamentals and improving neighborhood dynamics. The 2009 construction vintage provides competitive positioning with reduced near-term maintenance needs, while the neighborhood's 97.8% occupancy rate and 69.7% renter-occupied housing stock demonstrate sustained demand depth. Demographic projections show household income growth from $75,567 to $102,673 over five years, supporting rent progression and lease renewal rates.
According to multifamily property research from WDSuite, the area's exceptional amenity density and declining crime rates create favorable retention conditions, while elevated home values sustain rental demand by keeping households in the multifamily market. The neighborhood's NOI per unit averaging $8,913 ranks in the 73rd percentile nationally, indicating solid operating performance relative to comparable markets.
- Strong occupancy fundamentals with 97.8% neighborhood-level occupancy ranking 88th percentile nationally
- Newer 2009 construction reduces capital expenditure risk compared to 1982 neighborhood average
- Projected household income growth to $102,673 supports rent progression and renewal rates
- Exceptional amenity density with top quartile national ranking supports tenant retention
- Monitor rent-to-income ratios at 0.31 for potential affordability pressure on renewals