| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 87th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4616 Willis Ave, Sherman Oaks, CA, 91403, US |
| Region / Metro | Sherman Oaks |
| Year of Construction | 2000 |
| Units | 69 |
| Transaction Date | 2009-05-21 |
| Transaction Price | $16,500,000 |
| Buyer | Realty Center Management Inc |
| Seller | BlackRock, Inc., took |
4616 Willis Ave Sherman Oaks Multifamily Investment
This 69-unit property in an A-rated neighborhood benefits from strong renter demand, with 68.9% of housing units renter-occupied and median household income growth of 34.8% over five years.
Located in Sherman Oaks, this property sits within a top-quartile neighborhood nationally, ranking 66th among 1,441 metro neighborhoods with an A rating. The area demonstrates strong fundamentals for multifamily investment, with 68.9% of housing units renter-occupied—ranking in the 97th percentile nationally—indicating robust rental demand depth.
Demographics within a 3-mile radius show favorable trends for investor consideration. The area contains 153,343 residents with a median household income of $105,727, representing 26.4% growth over five years. Projections through 2028 indicate continued household formation, with a 33.7% increase in total households and median household income growth to $147,795, supporting rental pricing power and tenant retention.
Built in 2000, this property's vintage aligns with value-add opportunities typical of early 2000s construction, potentially offering renovation upside and capital improvement programs. The neighborhood's median contract rent of $2,242 reflects strong pricing power, with 30.1% rent growth over five years. Current neighborhood occupancy of 90.7% indicates stable absorption, though investors should monitor the recent 6.7% decline in occupancy rates.
Amenity density supports tenant appeal with high restaurant and cafe concentrations—ranking in the 98th and 97th percentiles nationally respectively. The area offers 3.34 grocery stores per square mile and strong pharmacy access. Home values averaging $1.1 million with a value-to-income ratio of 11.3 reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing.
The neighborhood demonstrates improving safety trends relevant to tenant retention and property management. Violent crime rates rank in the 66th percentile nationally, indicating above-average safety compared to neighborhoods nationwide. More significantly, both violent and property crime rates declined substantially year-over-year, with violent offenses down 94.7% and property crimes decreasing 73.4%.
Property crime rates of 399 incidents per 100,000 residents place the neighborhood at the 42nd percentile nationally, suggesting moderate property crime levels that rank 725th among 1,441 metro neighborhoods. The substantial improvement in crime trends supports the area's investment fundamentals and tenant appeal.
The property benefits from proximity to major corporate headquarters and offices within the greater Los Angeles market, providing workforce housing opportunities for employees in entertainment, energy, and technology sectors.
- Live Nation Entertainment — entertainment & media (6.4 miles) — HQ
- Radio Disney — media & broadcasting (6.5 miles)
- Occidental Petroleum — energy & oil (6.6 miles) — HQ
- Activision Blizzard Studios — gaming & technology (6.8 miles)
- AECOM — engineering & construction (7.0 miles) — HQ
This Sherman Oaks property presents a compelling investment opportunity anchored by strong rental market fundamentals and demographic tailwinds. According to CRE market data from WDSuite, the neighborhood ranks in the top 5% nationally with 68.9% renter occupancy and sustained household income growth of 34.8% over five years. The property's 2000 construction vintage positions it well for value-add strategies, while projected household formation through 2028 supports long-term rental demand expansion.
The investment case is strengthened by favorable affordability dynamics, where high home values relative to income (11.3x ratio) reinforce rental demand and limit ownership competition. Neighborhood-level net operating income averages $11,940 per unit, ranking in the 88th percentile nationally, while improving safety trends and strong amenity access support tenant retention and lease-up velocity.
- A-rated neighborhood with 97th percentile renter occupancy supporting stable cash flows
- Strong demographic growth with 33.7% projected household increase through 2028
- Value-add potential from 2000 vintage allowing renovation and modernization programs
- High ownership costs (11.3x income ratio) sustaining rental demand depth
- Monitor recent occupancy decline and rent-to-income affordability pressure at 27%