| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 87th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4553 Willis Ave, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 1973 |
| Units | 21 |
| Transaction Date | 1996-03-26 |
| Transaction Price | $154,000 |
| Buyer | PCS DEVELOPMENT 6 LLC |
| Seller | PCS DEVELOPMENT INC |
4553 Willis Ave Sherman Oaks Multifamily Opportunity
Renter concentration is strong in the surrounding neighborhood, and elevated ownership costs in Sherman Oaks support sustained apartment demand, according to WDSuite’s CRE market data. Investors can underwrite steady leasing fundamentals with upside from strategic renovations.
The property sits in an Urban Core pocket of Sherman Oaks that ranks competitive among Los Angeles-Long Beach-Glendale neighborhoods (top quartile among 1,441 metro neighborhoods) with an overall neighborhood rating of A. Amenity access is a clear strength: the area scores above national medians for restaurants, cafes, groceries, and pharmacies, providing daily convenience and supporting renter retention.
Neighborhood rents and incomes trend toward the higher end of the market, while the median home value ranks near the top nationally. In practice, this high-cost ownership market tends to reinforce reliance on multifamily housing and supports pricing power and lease stability for well-managed assets.
Renter-occupied housing is prevalent (high renter concentration relative to U.S. neighborhoods), indicating a deep tenant base for a 21‑unit asset. At the same time, neighborhood occupancy is around the national midpoint with modest softening over the past five years; operators should emphasize renewal and customer service to sustain performance.
Within a 3‑mile radius, recent demographic patterns have been relatively stable overall, and forecasts point to an increase in households alongside smaller average household sizes into 2028. That combination typically expands the renter pool and supports demand for a mix of unit types.
Vintage matters: built in 1973, the asset is slightly older than the neighborhood average year built. Investors should plan for targeted capital improvements and modernization, which can create value-add potential in a submarket where well-finished units compete effectively against older stock.
Parks are limited within the immediate neighborhood boundary, but strong private and commercial amenities help offset outdoor space constraints for day-to-day living.
Safety indicators for the neighborhood are above the national average, with conditions that are competitive among Los Angeles neighborhoods. According to WDSuite’s CRE market data, estimated property and violent offense rates have moved lower over the past year, which supports resident retention and leasing stability. As always, investors should evaluate property-level security, lighting, and access controls to align with tenant expectations.
Proximity to a cluster of entertainment, media, energy, gaming, and engineering employers supports a diverse professional renter base and commute convenience for residents. The employers below reflect the nearby demand drivers most relevant to leasing and retention.
- Live Nation Entertainment — entertainment (6.37 miles) — HQ
- Radio Disney — media (6.52 miles)
- Occidental Petroleum — energy (6.53 miles) — HQ
- Activision Blizzard Studios — gaming & media (6.75 miles)
- AECOM — engineering & infrastructure (6.91 miles) — HQ
4553 Willis Ave is a 21‑unit 1973 vintage asset positioned in a high-amenity, high-income pocket of Sherman Oaks where renter concentration and elevated ownership costs support durable demand. Based on commercial real estate analysis using WDSuite’s CRE market data, the surrounding neighborhood offers above-average national standing on demographics and amenities, while occupancy sits near the national midpoint—placing a premium on proactive renewal strategies.
The asset’s slightly older vintage suggests clear value-add pathways—interiors, building systems, and curb appeal—that can enhance competitiveness against newer product. Within a 3‑mile radius, forecasts indicate growth in households and a shift toward smaller household sizes by 2028, which typically broadens the renter pool and supports leasing for well-located mid-size properties.
- High renter concentration and high-cost ownership context support depth of tenant demand
- Amenity-rich Urban Core location aids retention and pricing power
- 1973 vintage provides value-add potential via targeted renovations and system upgrades
- Household growth and smaller sizes within 3 miles expand the renter pool through 2028
- Risks: neighborhood occupancy near national midpoint with recent softening; limited park access requires amenity strategy