| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 87th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15009 Moorpark St, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1984 |
| Units | 45 |
| Transaction Date | 2013-11-25 |
| Transaction Price | $11,300,113 |
| Buyer | J & M INVESTMENT GROUP LLC |
| Seller | MAP APARTMENTS I LLC |
15009 Moorpark St, Sherman Oaks Multifamily Thesis
Neighborhood data point to durable renter demand and steady occupancy supported by strong amenities and a high-cost ownership market, according to WDSuite’s CRE market data.
Sherman Oaks specifically the neighborhood surrounding 15009 Moorpark St 14shows investor-friendly fundamentals with deep renter demand and daily convenience. Amenity access is competitive, with cafes, restaurants, groceries, and pharmacies placing the area in the top quartile nationally, while the broader amenity rank (204 out of 1,441 Los Angeles metro neighborhoods) also indicates top-quartile positioning. Park access is limited at the neighborhood level, which investors should weigh against the strong retail and service density.
For multifamily demand, the neighborhood 27s renter-occupied share is high (top national percentile), signaling a large tenant base and potential leasing depth. Neighborhood occupancy is around the national middle, suggesting generally stable performance rather than extremely tight conditions; operators may prioritize retention and renewal strategies to sustain occupancy. Average NOI per unit is competitive among national peers (top-quartile), underscoring that comparable assets in this neighborhood tend to operate with healthy income per unit.
The local vintage skews older than the subject property (average neighborhood construction year is 1975). With a 1984 build, this asset is somewhat newer than the neighborhood norm, supporting relative competitiveness versus older stock; investors should still plan for aging systems and selective modernization to strengthen positioning.
Within a 3-mile radius, demographics show a stable to rising renter pool in the outlook period: households are projected to increase meaningfully over five years even as average household size trends smaller. This combination generally expands the tenant base and supports occupancy stability. Elevated home values in the neighborhood (top national percentiles) indicate a high-cost ownership market that tends to reinforce reliance on multifamily housing and can support pricing power, while the neighborhood-level rent-to-income profile suggests headroom exists but should be managed carefully to mitigate retention risk.
Neighborhood safety indicators compare favorably to national norms, with overall conditions placing the area above many neighborhoods nationwide. Recent trend data also point to improvement: both violent and property offense rates have shown notable year-over-year declines at the neighborhood level, a constructive signal for resident retention and leasing. As with any urban core location in the Los Angeles metro, performance can vary by micro-area and over time; prudent operators typically align on-site practices with evolving local trends.
Proximity to major employers in media, entertainment, energy, and engineering supports workforce housing demand and commute convenience for residents. The list below highlights nearby corporate offices and headquarters most relevant to the renter base.
- Live Nation Entertainment entertainment (6.5 miles) HQ
- Occidental Petroleum energy (6.6 miles) HQ
- Radio Disney media (6.8 miles)
- Activision Blizzard Studios gaming (6.9 miles)
- AECOM engineering & infrastructure (7.0 miles) HQ
15009 Moorpark St is a 45-unit, 1984-vintage asset in a neighborhood that scores strongly on amenities and renter concentration. The area 27s high-cost ownership landscape and top-quartile neighborhood amenity positioning underpin depth of demand and potential pricing power, while neighborhood occupancy trends suggest steady operations rather than extreme tightness. Based on CRE market data from WDSuite, neighborhood NOI per unit sits in a competitive national bracket, reinforcing the case for stable income generation with operational discipline.
Relative to the neighborhood 27s older average vintage, this property 27s 1984 construction offers a modest competitive edge over pre-1980s stock; targeted upgrades to aging systems and finishes can enhance leasing velocity and retention. Looking within a 3-mile radius, forecasts indicate growth in households alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability. Investors should balance these strengths with measured rent management to maintain retention in a market where incomes are rising but park access is limited and occupancy sits near the national middle.
- High renter concentration and strong amenities support leasing depth
- 1984 vintage offers edge over older local stock with value-add potential
- Household growth within 3 miles points to a larger tenant base
- Competitive neighborhood NOI per unit per WDSuite 27s commercial real estate analysis
- Risk: occupancy near the national middle requires active retention and rent management