| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 85th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15370 Weddington St, Sherman Oaks, CA, 91411, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 1996-11-04 |
| Transaction Price | $2,194,500 |
| Buyer | EMPIRE PROPERTIES |
| Seller | APPEL WARREN |
15370 Weddington St, Sherman Oaks Multifamily Investment
Neighborhood data points to durable renter demand supported by high renter-occupied housing share and elevated ownership costs, according to WDSuite’s CRE market data. Occupancy trends are steady at the neighborhood level, offering a practical base for income management rather than outsized lease-up risk.
Sherman Oaks’ Urban Core setting combines strong household incomes with a renter-leaning housing stock. The neighborhood’s renter-occupied share is high (top decile nationally), indicating a deep tenant base and consistent leasing velocity for a 50-unit property. Against the Los Angeles-Long Beach-Glendale metro, this neighborhood ranks 198 of 1,441, making it competitive among Los Angeles-Long-Glendale neighborhoods and above the metro median for overall quality.
For day-to-day convenience, the area shows strong coverage in essentials: grocery and pharmacy access sit in the high national percentiles, and restaurants are also dense versus national norms. Childcare access is particularly strong (well above national averages), which can support retention for family-oriented renters. While park and cafe counts are limited within the neighborhood boundary, proximity to broader San Fernando Valley and Westside job and amenity nodes helps offset on-block gaps.
At the neighborhood level, median contract rents benchmark high nationally and have grown meaningfully over the past five years. Home values sit in the upper tier nationally with a high value-to-income ratio, creating a high-cost ownership market that tends to sustain reliance on multifamily housing. Together with a high renter concentration, these conditions support pricing power and lease retention, though operators should monitor rent-to-income levels to manage renewal risk.
Demographics within a 3-mile radius show stable population with a recent shift toward more households and smaller average household sizes, and projections indicate continued growth in household count over the next five years. This pattern generally expands the renter pool and supports occupancy stability. The property’s 1972 vintage is older than the neighborhood’s average construction year, suggesting near- to medium-term capital planning and value-add potential (systems, common areas, and unit interiors) to remain competitive against newer stock.
Safety indicators compare favorably at the national level. Overall crime sits in a higher national safety percentile, and violent offense measures are also better than typical U.S. neighborhoods. Recent data shows a pronounced one-year improvement in property offense trends, according to WDSuite’s CRE market data. As always, crime can vary by block and over time, so investors should validate site-specific conditions and management practices.
Proximity to major corporate offices across entertainment, energy, telecom, and life sciences supports a broad commuter tenant base and aids retention through convenient access to regional job nodes. The employers below represent nearby demand drivers relevant to workforce and professional renters.
- Thermo Fisher Scientific — life sciences (7.25 miles)
- Radio Disney — media (7.33 miles)
- Charter Communications — telecom (7.46 miles)
- Live Nation Entertainment — entertainment (7.52 miles) — HQ
- Occidental Petroleum — energy (7.52 miles) — HQ
This 50-unit, 1972-vintage asset sits in a competitive Sherman Oaks neighborhood where renter concentration is high and homeownership costs are elevated. Those dynamics deepen the tenant base and can sustain occupancy, while the older vintage creates clear value-add pathways to reinforce rent positioning against newer comparables. Neighborhood rents benchmark high nationally and have shown multi-year growth, supporting a revenue-focused business plan paired with disciplined renewal management.
Based on commercial real estate analysis from WDSuite, the submarket’s access to diverse employment centers, strong essential amenities, and stable safety profile underpin long-term fundamentals. Demographic patterns within a 3-mile radius show increasing household counts and smaller household sizes over time, which generally expands the renter pool and supports leasing stability.
- High renter concentration and costly ownership reinforce multifamily demand
- 1972 vintage provides value-add potential through targeted renovations
- Strong grocery/pharmacy/restaurant access and proximity to major employers support retention
- Neighborhood rents rank high nationally with multi-year growth momentum
- Risks: average occupancy levels and limited on-block parks/cafes require active leasing and amenity strategy