| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 88th | Best |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13002 Riverside Dr, Sherman Oaks, CA, 91423, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | 2018-09-14 |
| Transaction Price | $20,000,000 |
| Buyer | 1st Wave LLC |
| Seller | Riverside Villas LLC, Developer, DNN Capital, Inc., Price/unit and /sf |
13002 Riverside Dr, Sherman Oaks Multifamily Investment
Neighborhood data points to stable renter demand and solid occupancy, with elevated home values reinforcing reliance on multifamily housing, according to WDSuite’s CRE market data. Balanced rent-to-income dynamics suggest manageable affordability pressure that can support retention.
Sherman Oaks’ Urban Core setting combines daily convenience with strong fundamentals that matter to multifamily operators. Neighborhood grocery and pharmacy access is competitive among Los Angeles-Long Beach-Glendale neighborhoods (grocery and pharmacy availability rank favorably out of 1,441), while overall amenity access sits above the metro median. Cafés and parks are thinner locally, which places more emphasis on on-site offerings and nearby corridors for lifestyle needs.
The area skews toward renters: renter-occupied housing accounts for a substantial share of units in the neighborhood, indicating a deep tenant base and consistent leasing velocity for mid-sized assets. Median contract rents in the neighborhood are high relative to national peers, yet the rent-to-income ratio sits at a level that indicates lower affordability pressure than many coastal submarkets, supporting renewal potential and pricing discipline over time.
Within a 3-mile radius, recent years show modest population softening but stability in household counts, with WDSuite reporting forecasts for household growth and smaller average household sizes ahead. For investors, that points to a gradual renter pool expansion and supports occupancy stability as more one- and two-person households seek professionally managed apartments.
Home values in the neighborhood rank near the top nationally, and value-to-income ratios are elevated. In practice, this high-cost ownership market sustains reliance on multifamily options, which can underpin tenant retention and long-term demand. The asset’s 1987 construction is newer than the neighborhood’s average vintage (1974), offering relative competitiveness versus older stock while still presenting opportunities for targeted modernization, systems upgrades, or common-area refresh to enhance positioning.
Safety indicators are comparatively favorable. The neighborhood ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, and national positioning is also strong (high percentile compared with neighborhoods nationwide). According to WDSuite’s CRE market data, estimated violent and property offenses have declined sharply year over year, suggesting improving conditions that can support leasing confidence and resident retention.
As with any urban core location, conditions vary block to block and over time. Investors should underwrite with standard operational controls and continue monitoring trend data alongside local management insights.
Proximity to entertainment and corporate offices anchors a diverse employment base that supports renter demand and commute convenience for residents. Key nearby employers include Radio Disney, Charter Communications, Disney, Live Nation Entertainment, and Activision Blizzard Studios.
- Radio Disney — media (4.3 miles)
- Charter Communications — telecommunications (5.0 miles)
- Disney — entertainment studios (5.2 miles) — HQ
- Live Nation Entertainment — live entertainment offices (5.7 miles)
- Activision Blizzard Studios — gaming & media (6.3 miles)
13002 Riverside Dr is a 40-unit, 1987-vintage multifamily property in Sherman Oaks where neighborhood indicators point to durable renter demand. Elevated home values and a high value-to-income ratio reinforce reliance on rentals, while neighborhood rent-to-income levels imply manageable affordability pressure that can support occupancy stability and renewals. According to commercial real estate analysis from WDSuite, local grocery and pharmacy access is competitive within the metro, offsetting thinner café and park density.
The asset’s vintage is newer than the neighborhood’s average, offering a relative edge versus older stock and room for targeted value-add through interior modernization and building systems planning. Within a 3-mile radius, forecasts show growth in households and smaller average household sizes, which can expand the renter pool and support leasing over the medium term. Employers across media, entertainment, and telecom within a short drive further diversify the resident base.
- High-cost ownership market sustains multifamily demand and retention potential
- Rent-to-income levels suggest manageable affordability pressure for renewals
- 1987 vintage offers competitive positioning with value-add modernization upside
- Household growth and smaller household sizes within 3 miles support renter pool expansion
- Risks: thinner café/park density and recent population softness warrant leasing and amenity strategy