| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 85th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15323 Weddington St, Sherman Oaks, CA, 91411, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2019-12-05 |
| Transaction Price | $9,100,000 |
| Buyer | H & R INVESTMENTS LP |
| Seller | RUBINO DALE C |
15323 Weddington St Sherman Oaks Multifamily Investment
Positioned in an Urban Core pocket of Sherman Oaks where neighborhood renter concentration is high, the asset benefits from durable tenant demand and elevated ownership costs, according to WDSuite’s CRE market data. The focus here is on steady occupancy and retention rather than outsized volatility.
Sherman Oaks’ Urban Core location offers daily conveniences that matter for leasing: strong grocery and pharmacy access and a dense childcare network, while parks and cafes are less concentrated. The neighborhood ranks 198 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods overall, placing it in the top quartile locally, and sits above national norms for housing and amenities performance.
For multifamily property research, neighborhood rents benchmark in the upper tier nationally and have grown over the past five years, while occupancy trends sit in the low-90s. Taken together, this suggests competitive positioning with manageable vacancy risk rather than a lease-up challenge, based on CRE market data from WDSuite.
Renter-occupied housing makes up roughly six in ten units in the neighborhood, indicating a deep tenant base and stable renewal prospects. Elevated home values relative to national norms create a high-cost ownership market, which typically supports multifamily pricing power and lease retention.
Within a 3-mile radius, household counts have inched higher and are projected to continue growing alongside smaller average household sizes. This combination points to a gradually expanding renter pool and supports occupancy stability over the medium term, even as the population level remains broadly steady.
The area’s construction vintage trends slightly older than the subject’s 1986 build year (neighborhood average year is earlier), helping the property remain relatively competitive versus nearby stock; investors should still underwrite selective modernization for systems and common areas to enhance positioning.
Neighborhood safety indicators compare favorably: the area sits above the metro average (ranked near the better end among 1,441 Los Angeles-Long Beach-Glendale neighborhoods) and in higher national safety percentiles. Recent data also shows meaningful year-over-year declines in both violent and property offense estimates, signaling improving conditions rather than deterioration.
As with any urban Los Angeles submarket, conditions can vary by block and over time; investors typically validate trends with on-the-ground diligence and time-of-day observations. The directional metrics here point to a comparatively safer profile and positive momentum, not a guarantee of risk elimination.
Proximity to major corporate employers supports a diverse professional renter base and commute convenience, which can aid leasing velocity and renewals. Notable nearby employment nodes include media, entertainment, telecom, energy, and life sciences.
- Radio Disney — media (7.3 miles)
- Thermo Fisher Scientific — life sciences (7.3 miles)
- Charter Communications — telecom (7.4 miles)
- Live Nation Entertainment — entertainment (7.5 miles) — HQ
- Occidental Petroleum — energy (7.5 miles) — HQ
15323 Weddington St is a 20-unit, 1986-vintage property with larger-than-typical average unit sizes for Los Angeles multifamily, a feature that can bolster retention and appeal to space-sensitive tenants. The immediate neighborhood shows top-quartile local standing, strong amenity access for daily needs, and a renter-heavy housing mix that supports steady leasing. Elevated for-sale home values in the area tend to reinforce renter reliance on multifamily housing and support pricing power. According to CRE market data from WDSuite, neighborhood occupancy sits around the low-90s and NOI per unit trends above national norms, suggesting a balanced demand backdrop.
Forward-looking 3-mile demographics indicate an expanding household base and smaller average household sizes, pointing to gradual renter pool expansion rather than outsized volatility. While the 1986 vintage is relatively competitive against older nearby stock, investors should plan for targeted modernization to sustain positioning. Key watchpoints include modest occupancy softening over the past five years and limited park/cafe density, which may require amenity strategy or experiential upgrades to maintain absorption.
- Large average unit size supports tenant retention and competitive differentiation
- Renter-heavy neighborhood and high-cost ownership market underpin stable demand and pricing power
- Above-average neighborhood standing with strong access to groceries, pharmacies, and childcare
- 1986 vintage offers value-add via targeted modernization against older nearby stock
- Risks: occupancy drifted modestly in recent years; limited park/cafe density may require amenity programming