| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15403 Sherman Way, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1978 |
| Units | 41 |
| Transaction Date | 2002-10-15 |
| Transaction Price | $3,500,000 |
| Buyer | FSC/SHERMAN WAY ASSOCIATES LLC |
| Seller | 15403 SHERMAN LTD |
15403 Sherman Way Van Nuys Multifamily Investment
With the neighborhood’s occupancy measured near 99% and a high renter-occupied share, the asset sits in a demand-dense pocket that has sustained leasing stability, according to WDSuite’s CRE market data.
Situated in Van Nuys’ Urban Core, the property benefits from a neighborhood rated B- with occupancy that is in the top quartile nationally and above the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. A high share of renter-occupied housing units indicates a deep tenant base that supports consistent leasing and renewal activity.
Daily-life amenities are strong: cafes and restaurants rank in the upper national percentiles, and grocery and pharmacy access also test well above national medians. This concentration of essentials helps underpin renter convenience and retention. Neighborhood-wide net operating income per unit trends around the national midpoint, suggesting performance in line with broader markets with room for operational outperformance at the asset level.
Within a 3-mile radius, household counts have grown and are projected to continue rising even as average household size edges lower. That combination typically expands the renter pool and supports occupancy stability, particularly for well-managed mid-size properties. Median rents in the neighborhood sit in the upper national quartile while home values are elevated versus national norms, a high-cost ownership backdrop that tends to sustain multifamily demand and pricing power.
Neighborhood construction skews similar to the metro’s vintage profile. For investors, competitive amenity access and strong renter concentration point to durable demand, while ongoing rent-to-income levels near regional norms call for attentive lease management to preserve retention.
Safety indicators compare favorably on a national basis: neighborhood measures land in the top quartile nationally, with recent year-over-year declines in both violent and property offense estimates. This trajectory positions the area as competitive among Los Angeles neighborhoods while avoiding block-level claims.
Investors should continue to monitor trend direction, but the combination of comparatively strong national standing and improving estimates supports a stable operating outlook relative to many urban submarkets.
The surrounding employment base mixes media, telecommunications, and corporate services, supporting a broad workforce renter pool and commute-friendly demand for mid-size multifamily.
- Charter Communications — telecommunications (7.1 miles)
- Thermo Fisher Scientific — life sciences offices (7.4 miles)
- Farmers Insurance Exchange — insurance (7.7 miles) — HQ
- Radio Disney — media (8.0 miles)
- Disney — entertainment (8.8 miles) — HQ
This 41-unit property is positioned in a high-demand renter pocket where neighborhood occupancy is above the metro median and strong on a national basis. Elevated home values in the area reinforce reliance on multifamily housing, while neighborhood rents in the upper national quartile point to proven depth of demand and potential pricing power with careful lease management. According to CRE market data from WDSuite, amenity access (dining, cafes, grocery, pharmacy) is competitive, supporting retention and day-to-day livability.
Within a 3-mile radius, households are increasing and are projected to rise further as average household size trends down, expanding the tenant base and supporting occupancy stability for well-operated assets. Neighborhood NOI per unit sits near the national midpoint, suggesting room for operational improvements to drive returns, while monitoring affordability pressure and macro volatility remains prudent.
- Strong neighborhood occupancy and deep renter concentration support leasing stability.
- High-cost ownership market sustains multifamily demand and pricing power.
- Competitive amenity access (cafes, restaurants, grocery, pharmacy) aids retention.
- Household growth within 3 miles expands the renter pool as household size declines.
- Risks: affordability pressure at higher rent levels, macro variability, and the need for continued operational focus to outperform median NOI.