| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15305 Lanark St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 2009 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15305 Lanark St Van Nuys Multifamily Investment
This 94-unit property built in 2009 operates in a neighborhood with 99.1% occupancy and strong rental demand. The area ranks in the top quartile nationally for occupancy stability, according to CRE market data from WDSuite.
The Van Nuys neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy at 99.1% ranking in the top 10% nationally among 1,441 metro neighborhoods. The area maintains 82.4% of housing units as renter-occupied, reflecting strong rental demand dynamics in this urban core location.
Demographics within a 3-mile radius show a stable tenant base with 279,148 residents and household incomes averaging $91,494. The median contract rent of $1,630 has increased 38.4% over five years, while forecasts project continued household growth and rent expansion through 2028. With 62.1% of area housing units occupied by renters, the neighborhood provides consistent demand for multifamily properties.
Local amenities support tenant retention with 7.28 cafes per square mile (99th percentile nationally) and 5.46 grocery stores per square mile (96th percentile nationally). The concentration of restaurants at 20.02 per square mile ranks in the 96th percentile nationwide, contributing to neighborhood livability. However, childcare facilities are limited, ranking last among metro neighborhoods.
The property's 2009 construction year aligns with recent development patterns, offering modern amenities while avoiding the highest capital expenditure needs of older stock. Home values averaging $714,934 with 67.5% five-year appreciation reinforce rental demand as ownership costs remain elevated relative to household incomes.
Safety metrics show mixed trends with property crime at 205.6 incidents per 100,000 residents, placing the neighborhood near the metro median among 1,441 neighborhoods. More encouraging, property crime declined 80.4% year-over-year, ranking in the 98th percentile nationally for improvement.
Violent crime remains notably low at 2.67 incidents per 100,000 residents, ranking in the top 1% of metro neighborhoods and 88th percentile nationally. The violent crime rate also decreased 99.4% year-over-year, representing the strongest improvement among all metro neighborhoods. These downward trends support tenant retention and leasing velocity.
The Van Nuys area benefits from proximity to major corporate employers within commuting distance, supporting workforce housing demand from professional tenants.
- Charter Communications — telecommunications (7.1 miles)
- Thermo Fisher Scientific — life sciences (7.8 miles)
- Farmers Insurance Exchange — insurance — HQ (8.1 miles)
- Disney — entertainment — HQ (9.2 miles)
- Live Nation Entertainment — entertainment — HQ (10.7 miles)
Exceptional occupancy at 99.1% ranks in top 10% nationally among metro neighborhoods
Strong rental demand with 82.4% of housing units renter-occupied (99th percentile nationally)
2009 construction provides modern amenities while avoiding heavy capital expenditure needs
Rent growth of 38.4% over five years with continued upward trajectory projected
Risk consideration: Limited childcare amenities may affect family tenant retention