| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5688 Etiwanda Ave, Tarzana, CA, 91356, US |
| Region / Metro | Tarzana |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 1997-10-13 |
| Transaction Price | $1,610,000 |
| Buyer | HILLCREST FINANCIAL |
| Seller | E J PARTNERS |
5688 Etiwanda Ave Tarzana Multifamily Investment
This 24-unit property built in 1990 offers exposure to a neighborhood ranking in the top quartile nationally for housing fundamentals, with commercial real estate analysis from WDSuite indicating strong occupancy rates at 96.8% and rising rental demand.
The Tarzana neighborhood ranks 193rd among 1,441 metro neighborhoods with an A rating, placing it in the top quartile nationally for housing fundamentals. Built in 1990, this property aligns with the area's average construction year of 1973, positioning it as a newer asset that may require less near-term capital expenditure compared to older neighborhood stock.
Demographics within a 3-mile radius show a stable tenant base with 158,218 residents and median household income of $96,003. The area maintains 47.2% renter-occupied housing units, supporting consistent rental demand. Forecasts indicate household income growth of 45.9% over the next five years, potentially strengthening tenant retention and pricing power for multifamily operators.
Neighborhood-level occupancy stands at 96.8%, ranking in the 82nd percentile nationally and indicating strong absorption dynamics. Contract rents average $1,754, with 17.7% growth over five years. The area offers solid amenity density with 4.07 grocery stores per square mile (94th percentile nationally) and strong childcare access, supporting tenant appeal and retention in this urban core location.
The neighborhood ranks 345th among 1,441 metro neighborhoods for crime, placing it in the 76th percentile nationally. Property offense rates have declined significantly by 74.4% over the past year, ranking in the 96th percentile for improvement trends. Violent crime rates also show substantial decreases of 93.3%, ranking in the 99th percentile nationally for year-over-year improvement.
These improving safety metrics support tenant retention and leasing velocity, with current crime levels remaining competitive among Los Angeles metro neighborhoods. The positive trajectory in both property and violent crime reduction indicates strengthening neighborhood fundamentals that can benefit multifamily operations.
The area benefits from proximity to major corporate employers that support workforce housing demand, with several Fortune 500 headquarters within commuting distance.
- Thermo Fisher Scientific — life sciences (3.7 miles)
- Farmers Insurance Exchange — insurance HQ (4.2 miles)
- Occidental Petroleum — energy HQ (9.4 miles)
- AECOM — engineering & construction HQ (10.3 miles)
- Live Nation Entertainment — entertainment HQ (10.3 miles)
This 24-unit property offers exposure to Tarzana's strong multifamily fundamentals, with neighborhood-level occupancy at 96.8% ranking in the 82nd percentile nationally. The 1990 construction year positions the asset as newer than the area average, potentially reducing near-term capital expenditure needs while maintaining competitive appeal. CRE market data from WDSuite indicates household income growth projections of 45.9% over five years within the 3-mile radius, supporting tenant retention and rent growth potential.
The neighborhood's A rating and top quartile national ranking for housing metrics reflect solid investment fundamentals. With 47.2% of housing units renter-occupied and declining crime rates, the area demonstrates stable rental demand dynamics. However, investors should monitor the rent-to-income ratio of 0.28, which ranks in the 8th percentile nationally and may present affordability pressure for tenant retention.
- Neighborhood occupancy at 96.8% ranks in 82nd percentile nationally
- 1990 construction year newer than area average, reducing capital needs
- Projected household income growth of 45.9% supports rent growth
- Strong amenity density with grocery and childcare access
- Risk: Low rent-to-income ratio may limit pricing power