| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 87th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15040 W Moorpark St, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | 2009-01-18 |
| Transaction Price | $4,000,000 |
| Buyer | NZL Capital Holdings LLC |
| Seller | 15040 Moorpark Avenue |
15040 W Moorpark St, Sherman Oaks Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting depth of demand in a high-cost ownership market, according to WDSuite’s CRE market data. Newer-than-area-average vintage and proximity to dense amenities position this asset for durable leasing with measured upside.
The property sits within an A-rated Urban Core pocket of the Los Angeles metro, ranked 66 out of 1,441 neighborhoods — firmly top quartile among metro peers. Amenity access is a clear strength: restaurants and cafes rank in the upper national percentiles, and pharmacies are especially dense, while grocery options are competitive nationally. One trade-off is limited park acreage nearby, which may matter for some renters but is often offset by walkable daily conveniences.
With an estimated 68.9% of neighborhood housing units renter-occupied, the renter concentration is high for Los Angeles, signaling a deep tenant base and steady multifamily demand. Neighborhood occupancy is around the national midpoint, with some softening over the past five years — suggesting disciplined revenue management remains important even as fundamentals stay broadly resilient.
Home values in the neighborhood sit in the upper national percentiles, characteristic of a high-cost ownership market that can sustain reliance on rental housing and support pricing power. At the same time, rent-to-income levels indicate manageable affordability pressure relative to local incomes, aiding lease retention and renewals. NOI per unit trends are competitive nationally, underscoring the area’s earnings potential for stabilized assets.
Construction in the immediate area skews older (average 1975), while this asset was built in 1984. The slightly newer vintage can be a competitive advantage against older stock; investors should still plan for targeted modernization and system updates typical of 1980s construction to maintain positioning. Demographic statistics aggregated within a 3-mile radius show households roughly steady historically with forecasts calling for household growth and smaller average household sizes, which would expand the local renter pool and support occupancy stability.
Safety indicators compare favorably: the neighborhood sits above national norms (around the 76th percentile) and is competitive among Los Angeles neighborhoods, effectively top quartile among 1,441 metro neighborhoods. According to CRE market data from WDSuite, recent year-over-year estimates point to pronounced declines in both property and violent offense rates, a constructive directional trend for resident retention and leasing.
As with any urban core location, conditions can vary by block and time of day. Investors typically underwrite with neighborhood-level trends, on-site security practices, and property design features in mind rather than relying on a single metric.
Nearby corporate offices provide a diversified employment base that supports multifamily demand and commute convenience, notably in entertainment, energy, and engineering. The list below highlights major employers within a ~7-mile radius that are relevant to renter demand in this submarket.
- Live Nation Entertainment — entertainment (6.6 miles) — HQ
- Occidental Petroleum — energy (6.6 miles) — HQ
- Radio Disney — media (6.8 miles)
- Activision Blizzard Studios — entertainment (6.9 miles)
- AECOM — engineering & infrastructure (7.0 miles) — HQ
15040 W Moorpark St benefits from a high-renter neighborhood in Sherman Oaks, strong amenity density, and a high-cost ownership landscape that supports reliance on rentals. Built in 1984, the asset is newer than the area average and can compete well against older stock, while targeted modernization can enhance positioning. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends hover near national norms, and household growth projected within a 3-mile radius suggests a larger tenant base over the medium term.
Key considerations include maintaining affordability balance as rents trend upward and accounting for limited nearby park space in tenant marketing. Directional improvements in neighborhood safety metrics and proximity to multiple anchor employers add support for leasing stability and retention.
- High renter concentration and elevated ownership costs support durable multifamily demand
- 1984 construction offers competitive positioning with potential value-add from targeted updates
- Amenity-rich Urban Core location with strong dining, cafe, and pharmacy access
- Employment nodes within ~7 miles underpin commute-driven renter demand
- Risk: occupancy near national median and limited green space call for focused leasing and resident engagement