| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 87th | Best |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15007 Burbank Blvd, Van Nuys, CA, 91411, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 26 |
| Transaction Date | 2021-10-07 |
| Transaction Price | $1,481,000 |
| Buyer | PB LIVING TRUST |
| Seller | SURVIVORS TRUST |
15007 Burbank Blvd Van Nuys Multifamily Investment
This 26-unit property built in 1986 targets strong neighborhood fundamentals, with 97.2% occupancy rates and above-average income demographics according to WDSuite's CRE market data.
Van Nuys presents a compelling urban core environment with strong rental demand fundamentals. The neighborhood ranks in the top quartile nationally for demographics (97th percentile) and housing metrics (80th percentile), supported by median household income of $138,376 that has grown 78.5% over five years. With 46.8% of housing units renter-occupied, the area maintains a stable tenant base for multifamily properties.
Occupancy trends demonstrate market stability, with neighborhood-level occupancy at 97.2% ranking in the 85th percentile nationally among 1,441 metro neighborhoods. Contract rents average $1,938 for one-bedroom units, positioning in the 91st percentile nationally while maintaining reasonable affordability with a 0.14 rent-to-income ratio. The area's construction vintage averages 1964, creating potential value-add opportunities for properties requiring capital improvements or modernization.
Demographics within a 3-mile radius show 208,038 residents with household income growth of 83.3% over five years, supporting rental demand. Forecasts indicate household growth of 31.9% through 2028, expanding the potential renter pool. Home values averaging over $1 million reinforce rental demand by keeping ownership costs elevated, sustaining tenant retention in the multifamily market.
The neighborhood demonstrates improving safety trends with property crime rates declining 89% year-over-year and violent crime down 96.2%, both ranking in the top percentile nationally for improvement. Current property crime rates of 216.8 per 100,000 residents rank at the metro median among 1,441 neighborhoods, while violent crime rates of 9.9 per 100,000 residents place in the 70th percentile nationally.
These downward crime trends support tenant retention and property values, with the neighborhood's overall crime ranking at 225 out of 1,441 metro neighborhoods (81st percentile nationally). The substantial year-over-year improvements in both property and violent crime categories indicate positive momentum for the area's investment outlook.
The Van Nuys area benefits from proximity to major corporate employers across entertainment, telecommunications, and energy sectors, supporting workforce housing demand and commute convenience.
- Charter Communications — telecommunications (6.9 miles)
- Radio Disney — media & entertainment (6.9 miles)
- Live Nation Entertainment — entertainment services (7.6 miles) — HQ
- Thermo Fisher Scientific — life sciences (7.7 miles)
- Disney — entertainment & media (7.8 miles) — HQ
This 1986-built property offers value-add potential in a neighborhood demonstrating strong fundamentals and improving trends. Built slightly newer than the neighborhood average of 1964, the asset may require moderate capital improvements while benefiting from established infrastructure. Commercial real estate analysis from WDSuite indicates the area ranks in the top quartile nationally for demographics and housing metrics, with household income growth of 78.5% over five years supporting rental demand.
Occupancy stability at 97.2% neighborhood-wide, combined with forecasted household growth of 31.9% through 2028, creates a favorable environment for tenant retention and lease-up velocity. High home values exceeding $1 million reinforce rental demand by maintaining elevated ownership costs, while substantial crime reductions of 89-96% year-over-year improve the area's investment trajectory.
- Strong occupancy fundamentals with 97.2% neighborhood rate ranking 85th percentile nationally
- High-income demographics with $138,376 median household income and 78.5% five-year growth
- Value-add opportunity with 1986 construction year in neighborhood averaging 1964 vintage
- Improving safety trends with 89-96% crime reductions supporting tenant retention
- Risk consideration: Limited amenity density with low walkable retail and service access