| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8815 Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1984 |
| Units | 26 |
| Transaction Date | 1998-11-13 |
| Transaction Price | $985,000 |
| Buyer | HASKELL ENTERPRISES INC |
| Seller | M D I INVESTMENT INC |
8815 Orion Ave North Hills Multifamily Opportunity
Stabilized renter demand in an Urban Core pocket of North Hills supports consistent leasing, according to WDSuite’s CRE market data, with neighborhood occupancy trending in the mid‑90% range. A 1984 vintage positions the asset slightly newer than nearby stock, offering competitive footing with room for targeted upgrades.
Located in North Hills within Los Angeles County, the property sits in a renter-driven neighborhood where the share of housing units that are renter-occupied is among the highest nationally. For multifamily owners, that depth of renter concentration signals a broad tenant base and supports occupancy stability through cycles.
WDSuite indicates neighborhood occupancy around the mid‑90% range (above the national median), and median asking rents sit above many U.S. neighborhoods. Elevated home values in the area further reinforce reliance on rental housing, which can aid pricing power and lease retention for well-managed assets.
Amenities are mixed: grocery access is strong (high national percentile), and restaurant density is competitive, while parks, cafes, and pharmacies are relatively limited. School ratings in the surrounding area trend below national averages; investors should underwrite to a workforce-oriented renter profile rather than school-driven demand.
Construction patterns nearby skew late‑1970s on average; this property’s 1984 vintage is modestly newer. That positioning can reduce immediate capital intensity versus older stock while still leaving value‑add potential through common‑area refreshes and in‑unit improvements to meet contemporary renter expectations.
Demographic statistics aggregated within a 3‑mile radius show a slight population contraction alongside a rise in total households and smaller average household sizes. For multifamily, a growing household count and more one‑ to two‑person households typically expand the renter pool and support steady absorption even when overall population is flat to down.
Based on WDSuite’s neighborhood benchmarks, local safety metrics track in the upper quartile nationally, indicating comparatively favorable conditions versus many U.S. neighborhoods. Recent readings also show notable year‑over‑year declines in both property and violent offense rates, a constructive trend for leasing stability and resident retention.
Safety can vary block to block and over time; investors should validate on‑the‑ground conditions and align security measures with resident expectations typical for Los Angeles-Long Beach-Glendale, CA submarkets.
Proximity to diversified employers supports workforce housing demand and commute convenience, led by media, telecom, and insurance firms noted below.
- Charter Communications — telecom & media offices (7.6 miles)
- Thermo Fisher Scientific — life sciences offices (7.9 miles)
- Farmers Insurance Exchange — insurance services (8.1 miles) — HQ
- Radio Disney — media offices (9.2 miles)
- Disney — media & entertainment (9.8 miles) — HQ
8815 Orion Ave is a 26‑unit, circa‑1984 asset with average unit sizes around 720 sq. ft., positioned in a Los Angeles Urban Core neighborhood where the share of renter‑occupied units is among the highest nationally. According to CRE market data from WDSuite, neighborhood occupancy trends in the mid‑90% range, and elevated local home values help sustain reliance on multifamily housing — favorable conditions for rent growth and lease retention when operations are well managed.
Within a 3‑mile radius, total population is edging down while households are increasing and average household size is shrinking, indicating more, smaller households entering the market. That shift typically expands the tenant base and supports steady absorption. The property’s vintage is slightly newer than nearby stock, suggesting competitive positioning with manageable modernization to capture value‑add upside. Underwriting should also account for affordability pressure (rent‑to‑income is elevated in the neighborhood) and for amenity trade‑offs such as limited park and cafe density.
- High renter concentration and mid‑90% neighborhood occupancy support demand depth and leasing stability.
- 1984 vintage is modestly newer than area averages, enabling targeted renovations for competitive lift.
- Household growth and smaller household sizes within 3 miles expand the tenant base despite flat overall population.
- Elevated ownership costs in Los Angeles bolster renter reliance, aiding pricing power for well‑run communities.
- Risks: affordability pressure (higher rent‑to‑income), limited parks/cafes, and the need to validate submarket safety and school expectations.