| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 91st | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14315 Dickens St, Sherman Oaks, CA, 91423, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | 2023-03-16 |
| Transaction Price | $8,652,000 |
| Buyer | KLS 14311 DICKENS LLC |
| Seller | UROV 14315 DICKENS LLC |
14315 Dickens St, Sherman Oaks Multifamily Investment
Positioned in an amenity-rich Urban Core pocket of Sherman Oaks, the neighborhood shows stable renter demand and solid income fundamentals, according to WDSuite’s CRE market data. Neighborhood occupancy is in the mid-90s and renter-occupied housing is prevalent, supporting leasing durability for a 40-unit asset.
Sherman Oaks’ immediate neighborhood ranks near the top of the Los Angeles metro for overall quality (A+; 7th of 1,441), signaling durable location fundamentals for multifamily. Amenity access is a clear strength—restaurants, cafes, groceries, parks, and pharmacies all register in very high national percentiles—supporting retention and rentability for working professionals and downsizers.
Vintage positioning matters: the property was built in 1987, newer than the neighborhood’s average 1976 construction year. That relative youth can bolster competitiveness versus older stock, while still leaving room for targeted modernization and systems updates to enhance NOI.
Unit tenure favors rentals. Approximately six in ten housing units in the neighborhood are renter-occupied, indicating depth in the tenant base and supporting ongoing multifamily demand. Neighborhood occupancy is reported at roughly the low-90% range; investors should view this as a benchmark for lease-up and renewal strategy rather than a property-specific metric.
Within a 3-mile radius, household incomes are strong and the ownership market is high-cost by national standards. Elevated home values and a value-to-income ratio near the top of national ranges reinforce reliance on multifamily housing, which can aid pricing power and lease retention. Median contract rents in the area have risen over the past five years, while rent-to-income levels remain manageable—an important input for commercial real estate analysis focused on renewal risk and effective gross income stability.
Demographic trends (3-mile radius) show near-flat population recently with a projected increase in households and higher-income cohorts over the next five years. A larger household count alongside smaller average household sizes points to a broader renter pool over time, which can support occupancy stability and diversified tenant demand.
Safety indicators are comparatively favorable for an urban Los Angeles location. The neighborhood is above the metro median for crime (ranked 367 of 1,441) and sits around the upper quartile nationally (76th percentile), suggesting relatively safer conditions than many peer urban neighborhoods.
Recent trends are constructive: estimated violent and property offense rates show notable year-over-year declines, with improvements tracking among the strongest nationally. While block-by-block conditions vary, the directional trend supports neighborhood stability from an investor’s risk perspective.
Proximity to major employers in media, energy, and engineering supports a deep professional renter base and convenient commutes. The names below reflect large-scale demand drivers that can aid leasing and retention for nearby multifamily.
- Live Nation Entertainment — entertainment (5.8 miles) — HQ
- Radio Disney — media (5.9 miles)
- Activision Blizzard Studios — media & gaming (6.2 miles)
- Occidental Petroleum — energy (6.2 miles) — HQ
- AECOM — engineering & infrastructure (6.4 miles) — HQ
This 40-unit, 1987-vintage asset benefits from a top-tier Sherman Oaks location where amenity density, strong incomes, and a high-cost ownership market reinforce sustained rental demand. Neighborhood occupancy sits in the low-90% range and renter concentration is elevated, indicating a broad tenant base and potential for steady leasing performance. According to CRE market data from WDSuite, the submarket’s high home values and strong household incomes help support pricing power while keeping rent-to-income levels within a manageable range for many renters.
Relative to older local stock, the property’s vintage provides competitive positioning while still offering value-add potential through unit renovations and building system updates to drive NOI. Looking ahead, 3-mile demographics point to growth in households and higher-income segments, expanding the renter pool and supporting occupancy stability. Key risks include modest softening in neighborhood occupancy over the last five years and typical urban variability; disciplined lease management and targeted capex can mitigate these factors.
- A+ neighborhood with amenity density in top national ranges, supporting rentability
- 1987 vintage offers competitive positioning plus renovation and systems-upgrade upside
- High-cost ownership market and strong incomes reinforce multifamily demand and pricing power
- 3-mile outlook shows rising household counts, expanding the tenant base over time
- Risk: neighborhood occupancy drifted lower over five years; active lease and capex strategies recommended