| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15231 Sherman Way, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 2000 |
| Units | 22 |
| Transaction Date | 2019-05-10 |
| Transaction Price | $3,000,000 |
| Buyer | OAK TREE VILLAGE APARTMENTS LP |
| Seller | OAK TREE VILLAGE AFFD HSNG PARNTERS LP |
15231 Sherman Way Van Nuys Multifamily Investment
Renter-occupied housing is elevated in the immediate neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data. Area ownership costs are high relative to incomes, which tends to sustain rental demand in Van Nuys.
The property sits within Los Angeles’s Urban Core fabric of Van Nuys, where neighborhood occupancy is healthy and renter-occupied share is high. The renter-occupied share ranks 177 out of 1,441 metro neighborhoods — top quartile — signaling a sizable tenant pool and potential demand depth for multifamily assets. Neighborhood occupancy is mid-pack locally yet above national norms, suggesting stable day-to-day leasing rather than peak tightness.
Everyday amenities are a relative strength. Restaurant, grocery, and pharmacy density track in higher national percentiles, offering convenience that can aid retention. By contrast, parks and formal childcare options are more limited in the immediate area; investors should consider how on-site features can offset those gaps for family tenants. Average school ratings trend below national norms, which may influence unit-mix strategy toward adult and workforce renters.
At the neighborhood level, home values are elevated versus incomes (a high value-to-income ratio, top-tier nationally). For investors, that high-cost ownership market typically reinforces reliance on rentals and can support pricing power when managed carefully. Median asking rents in the neighborhood have grown over the last five years, consistent with broader Los Angeles patterns noted in WDSuite’s commercial real estate analysis.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, total population edged down while the number of households increased, pointing to smaller household sizes and a broader household base. Projections show further growth in households alongside higher incomes, which can expand the renter pool and support occupancy stability even if population growth is modest.
Safety trends are competitive among Los Angeles-Long Beach-Glendale neighborhoods (crime rank sits within the stronger 40% when measured against 1,441 metro neighborhoods) and around the national middle on a percentile basis. Recent year-over-year estimates indicate meaningful declines in both property and violent offenses, which is a constructive directional signal, though investors should underwrite to submarket-level variability and property-specific security measures.
The employment base nearby includes media, entertainment, telecom, insurance, and life sciences offices within a 7–9 mile commute, supporting workforce housing demand and retention for renters prioritizing access to these corridors. Notable employers include Charter Communications, Thermo Fisher Scientific, Radio Disney, Farmers Insurance Exchange, and Disney.
- Charter Communications — telecom & media operations (6.9 miles)
- Thermo Fisher Scientific — life sciences (7.6 miles)
- Radio Disney — media (7.8 miles)
- Farmers Insurance Exchange — insurance (7.9 miles) — HQ
- Disney — entertainment (8.6 miles) — HQ
Built in 2000, the 22-unit asset offers a newer vintage relative to much of the surrounding housing stock, which skews 1970s. That positioning can be competitively favorable versus older properties, while still leaving room for selective modernization of building systems and common areas over a long hold. The neighborhood shows a high renter-occupied share — top quartile among 1,441 metro neighborhoods — and occupancy that is steady rather than peak-tight, supporting durable leasing. Elevated ownership costs locally tend to sustain demand for rentals, and larger average unit sizes here can appeal to share-by-room and household renters.
Within a 3-mile radius, households have increased despite flat-to-lower population, and forecasts point to further gains alongside rising incomes — a setup that can expand the tenant base and support rent durability when managed with attention to affordability. According to CRE market data from WDSuite, local amenity access is a relative strength while schools are weaker, guiding a pragmatic approach to tenant targeting and on-site programming.
- Newer 2000 vintage versus older neighborhood stock, with potential for targeted value-add
- High renter-occupied share (top quartile among 1,441) supports a deeper tenant base
- Elevated ownership costs in the area reinforce sustained reliance on rentals
- Strong everyday amenities nearby aid retention and leasing momentum
- Risks: below-average school ratings and limited parks/childcare; underwrite to mid-pack neighborhood occupancy