| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 91st | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4417 Hazeltine Ave, Sherman Oaks, CA, 91423, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 2021-07-21 |
| Transaction Price | $10,460,000 |
| Buyer | VUE SHERMAN OAKS LLC |
| Seller | PUR HAZELTINE LLC |
4417 Hazeltine Ave Sherman Oaks Multifamily Investment
This 24-unit property benefits from Sherman Oaks' A+ neighborhood rating and top-tier demographics, with 92.4% neighborhood occupancy rates supporting stable rental demand, according to CRE market data from WDSuite.
Sherman Oaks ranks 7th among 1,441 metro neighborhoods with an A+ rating, reflecting exceptional fundamentals across housing, demographics, and amenities. The neighborhood's 92.4% occupancy rate demonstrates stable rental demand, though this represents a modest 3.2% decline over five years. With 60.3% of housing units renter-occupied, the area maintains strong rental market dynamics that support multifamily investments.
Demographics within a 3-mile radius show a highly educated population, with 47.9% holding bachelor's degrees—ranking in the 99th percentile nationally. The median household income of $104,928 provides solid tenant quality, while the area's elevated home values of $1.3 million reinforce rental demand by limiting ownership accessibility for many households. Contract rents average $1,956, reflecting the premium nature of this market.
Built in 1990, this property aligns with the neighborhood's average construction year of 1976, positioning it competitively within the local housing stock without requiring immediate major capital improvements. The area offers exceptional amenity density with 73 restaurants per square mile and robust access to grocery stores, childcare, and parks—all factors that enhance tenant retention and appeal.
Forward-looking demographics indicate household growth of 33% projected through 2028, expanding the renter pool and supporting continued occupancy stability. The combination of high educational attainment, strong income levels, and limited ownership options creates a favorable environment for multifamily operators.
Sherman Oaks demonstrates solid safety metrics relative to the broader Los Angeles metro area, ranking 367th among 1,441 neighborhoods for overall crime—placing it above the metro median. The neighborhood shows particularly encouraging trends, with property offense rates declining 80.3% year-over-year and violent offense rates down 95.6%, both ranking in the top quartile nationally for crime reduction.
Current property offense rates of 420 incidents per 100,000 residents and violent offense rates of 13 incidents per 100,000 residents reflect the ongoing improvements in neighborhood safety conditions. These positive trends support tenant retention and can contribute to sustained rental demand in the area.
Sherman Oaks benefits from proximity to major entertainment and corporate headquarters, providing diverse employment opportunities that support workforce housing demand.
- Radio Disney — entertainment media (5.7 miles)
- Live Nation Entertainment — entertainment services (5.8 miles) — HQ
- Activision Blizzard Studios — gaming and entertainment (6.2 miles)
- Occidental Petroleum — energy corporation (6.3 miles) — HQ
- Disney — entertainment conglomerate (6.6 miles) — HQ
This Sherman Oaks property capitalizes on one of Los Angeles' premier residential neighborhoods, with an A+ rating and top-quartile national performance across key investment metrics. The 1990 construction year positions the asset competitively within the neighborhood without immediate major capital requirements, while the 941 square foot average unit size aligns well with local rental demand patterns.
The investment thesis centers on demographic stability and rental market fundamentals, with multifamily property research from WDSuite indicating 33% household growth projected through 2028 and sustained occupancy rates above 92%. The area's $104,928 median household income and 99th percentile education levels support quality tenancy, while elevated home values maintain rental demand by limiting ownership transitions.
- A+ neighborhood rating ranking 7th among 1,441 metro neighborhoods
- 33% projected household growth through 2028 expanding renter pool
- 60.3% renter occupancy rate supporting rental market dynamics
- Proximity to major entertainment and corporate employers within 7 miles
- Risk consideration: Neighborhood occupancy declined 3.2% over five years requiring monitoring