| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 87th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15009 W Moorpark St, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1984 |
| Units | 45 |
| Transaction Date | 2017-07-25 |
| Transaction Price | $18,100,000 |
| Buyer | J&M Investment Group, LLC |
| Seller | MAP Apartments-1 LLC, Private Investor, Howard Management, PrCiaces/hu Enqitu aivnadle /nstf |
15009 W Moorpark St Sherman Oaks Value-Add Multifamily
High renter concentration and a high-cost ownership market in the surrounding neighborhood support durable demand and retention, according to WDSuite’s CRE market data. Neighborhood occupancy is around the national midpoint, so underwriting should focus on tenant quality and leasing efficiency rather than outsized growth assumptions.
Sherman Oaks’ neighborhood quality scores in the top quartile among 1,441 Los Angeles metro neighborhoods, with strong amenity access and income fundamentals that favor multifamily. Amenity density is competitive, including restaurants, cafes, groceries, and pharmacies that rank well nationally, which supports resident convenience and leasing velocity. Park access is limited within the immediate neighborhood, which slightly tempers the lifestyle profile for outdoor-focused renters.
The housing stock skews renter-occupied at the neighborhood level, with a high share of renter-occupied units that indicates a deep tenant base for multifamily product. Median contract rents for the neighborhood benchmark sit in a high national percentile, while the 3-mile radius shows continued rent growth in WDSuite data; taken together, this points to sustained pricing power for well-positioned assets. The neighborhood’s occupancy rate is roughly at the national midpoint and has softened over five years, suggesting owners should prioritize leasing execution and renewals to maintain stability.
Home values in the neighborhood rank near the top nationally, reflecting a high-cost ownership market that tends to reinforce renter reliance on multifamily housing and support retention. With a median rent-to-income ratio at the neighborhood level indicating relatively lower affordability pressure versus national norms, operators may find room for measured rent steps while managing renewal risk.
Demographics aggregated within a 3-mile radius indicate modest population fluctuation historically but an outlook for growth in both households and higher-income cohorts over the next five years. Forecasts show increases in household counts alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability for appropriately sized units. The property’s 1984 vintage is newer than the neighborhood average year built, offering competitive positioning versus older stock; targeted modernization of systems and common areas could unlock value-add upside without a full repositioning.
WDSuite s CRE market data indicates the neighborhood compares favorably on safety, landing in the upper quartile nationally. Within the Los Angeles metro, the area is competitive among 1,441 neighborhoods. Recent trend data shows notable year-over-year declines in both property and violent offense estimates, which is constructive for resident retention and leasing. As always, safety conditions vary by micro-location and over time, so operators should monitor trends and engage in standard property-level risk management.
Proximity to major entertainment, energy, and engineering employers supports a diverse professional renter base and commute convenience for residents. The following nearby corporate offices anchor employment within an approximately 6.5–7.0 mile radius.
- Live Nation Entertainment — entertainment HQ (6.5 miles) — HQ
- Occidental Petroleum — energy HQ (6.6 miles) — HQ
- Radio Disney — media offices (6.8 miles)
- Activision Blizzard Studios — gaming & media offices (6.9 miles)
- AECOM — engineering & infrastructure HQ (7.0 miles) — HQ
This 45-unit, 1984-vintage asset benefits from a high renter-occupied neighborhood, elevated home values that sustain reliance on rentals, and strong amenity access. Based on CRE market data from WDSuite, neighborhood occupancy sits near the national midpoint with five-year softening, so the investment case hinges on operational execution, thoughtful renewals, and light value-add to enhance competitiveness against older stock.
Household growth and rising incomes within a 3-mile radius point to a larger, higher-earning tenant base over the next five years, supporting rent durability for well-managed units. The high national standing of neighborhood rents and NOI per unit benchmarks further underscores durable renter demand, while limited nearby park space and macro exposure to entertainment-heavy employment are considerations for underwriting.
- High renter-occupied neighborhood and high-cost ownership context support depth of demand and retention.
- 1984 vintage offers competitive positioning versus older stock with targeted modernization for value-add.
- 3-mile radius outlook shows increased households and higher incomes, expanding the renter pool and supporting leasing.
- Neighborhood occupancy around the national midpoint emphasizes the importance of leasing execution and renewal management.
- Risks: limited immediate park access and cyclical exposure to nearby entertainment-sector employment.