| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 29th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14623 Sylvan St, Van Nuys, CA, 91411, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1978 |
| Units | 40 |
| Transaction Date | 1998-05-01 |
| Transaction Price | $275,000 |
| Buyer | 1800 GOLD LTD |
| Seller | GMI INC |
14623 Sylvan St Van Nuys Multifamily Investment
Renter-occupied housing is the dominant tenure in the surrounding neighborhood, supporting a deep tenant base and stable leasing conditions, according to WDSuite’s CRE market data. Consistent neighborhood occupancy and strong nearby amenities suggest durable demand with selective value-add potential.
Located in Van Nuys within the Los Angeles metro, the property sits in an Urban Core neighborhood rated B and positioned 617 out of 1,441 metro neighborhoods—competitive among Los Angeles neighborhoods. Amenity access is a clear strength: neighborhood amenity density trends in the top quartile nationally, with cafes, grocery stores, and pharmacies each benchmarking at or above the mid‑90s national percentiles, which typically supports resident convenience and lease retention.
Neighborhood occupancy is approximately 94% (neighborhood figure, not property-specific) and renter-occupied units represent a high share of local housing, indicating depth in the rental market and a broad pool of prospective tenants. Median contract rents in the neighborhood have trended upward over the past five years, reinforcing the case for sustained multifamily demand.
Within a 3-mile radius, demographics indicate a modest decline in total population over the last five years alongside an increase in total households, pointing to smaller household sizes and a larger base of leaseholders—conditions that can support occupancy stability. Looking ahead, WDSuite data projects a further increase in households by 2028 with household sizes continuing to compress, which generally expands the renter pool and supports leasing velocity. Median household incomes in the 3-mile radius are projected to rise, which can help sustain rent levels as new supply competes for tenants.
Ownership costs are elevated locally relative to incomes, with home values benchmarking high nationally; in practice this tends to reinforce reliance on multifamily housing and can support pricing power for well-positioned assets. School ratings average near the lower end locally (neighborhood metric), which investors may factor into marketing strategy and tenant mix expectations. Park access is limited within the immediate neighborhood, but the broader amenity set and employment access remain supportive of renter demand. The building’s 1978 vintage is newer than the neighborhood’s average construction year (1968), suggesting relative competitiveness versus older stock while still warranting targeted modernization for aging systems.
Neighborhood safety trends are comparatively favorable for Los Angeles: the area ranks 444 out of 1,441 metro neighborhoods for crime, placing it above the metro median and roughly top quartile nationally by WDSuite’s crime percentile benchmarking. Recent estimates also indicate notable year‑over‑year declines in both violent and property offense rates, which, if sustained, can support renter retention and operational stability. These are neighborhood‑level indicators and not specific to the property or any single block.
- Charter Communications — telecommunications (6.2 miles)
- Radio Disney — media (6.7 miles)
- Disney — entertainment (7.5 miles) — HQ
- Thermo Fisher Scientific — life sciences (8.2 miles)
- Live Nation Entertainment — entertainment (8.2 miles) — HQ
Proximity to major media and corporate offices underpins workforce housing demand and commute convenience for renters, including Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Live Nation Entertainment.
This 40‑unit, 1978‑vintage property benefits from strong neighborhood renter concentration and consistent neighborhood occupancy, supported by dense retail and service amenities. The vintage is newer than much of the surrounding stock, offering competitive positioning with scope for targeted value‑add to modernize systems and interiors. Within a 3‑mile radius, households are increasing even as household sizes trend smaller—conditions that typically expand the renter pool and support occupancy stability. Elevated ownership costs locally further reinforce reliance on multifamily housing, while rising household incomes point to capacity to support rent levels.
According to CRE market data from WDSuite, the neighborhood benchmarks above the metro median for safety and in the top quartile nationally for amenity access, while neighborhood rents have grown over the past five years with additional growth projected. Investors should balance these strengths against operational considerations such as lower average school ratings and affordability pressure (higher rent‑to‑income ratios), which may require focused lease management and resident retention strategies.
- High renter concentration and solid neighborhood occupancy support demand depth
- 1978 vintage is newer than neighborhood average, with practical value‑add/modernization upside
- Top‑quartile amenity access and strong employer proximity aid retention and leasing
- Household growth within 3 miles expands the renter pool and supports occupancy stability
- Risks: lower average school ratings and affordability pressure may require targeted lease management