| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15506 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2002-10-22 |
| Transaction Price | $1,750,000 |
| Buyer | RUNIN REB LTD |
| Seller | CALIFORNIA PLAZA BUILDING LLC |
15506 Vanowen St Van Nuys Multifamily Investment
Neighborhood occupancy remains resilient with a deep renter base, according to WDSuite’s CRE market data, supporting steady leasing for well-managed assets. Elevated ownership costs in Van Nuys point to sustained renter reliance and stable demand.
Van Nuys sits in Los Angeles’ Urban Core, with a neighborhood rating of B and amenity access that outperforms much of the nation. Restaurant density is strong (top decile nationally) alongside competitive counts of cafes and pharmacies, though park access is limited, which may influence resident lifestyle preferences and the mix of tenants attracted to the area.
Neighborhood occupancy is high and competitive among Los Angeles-Long Beach-Glendale neighborhoods, and in the top quintile nationally, reinforcing expectations for leasing stability rather than outsized vacancy swings. The neighborhood’s renter-occupied share is elevated (renter concentration), which signals a broad tenant base for multifamily and helps supports absorption in normal market conditions. These are neighborhood-level signals, not property-specific rates.
Within a 3-mile radius, recent population counts have edged down modestly while households have grown and are projected to expand further, indicating smaller household sizes and ongoing renter pool expansion. Median and mean household incomes have risen meaningfully and are expected to continue increasing, which tends to support rent growth potential and renewal conversion, even as operators should monitor affordability pressure and apply disciplined lease management.
Home values in the neighborhood are elevated versus national norms (top percentile range), creating a high-cost ownership market that tends to sustain rental demand and improve retention for quality rental stock. Average school ratings in the area trail national benchmarks, which can modestly narrow the family-demand segment but does not preclude strong leasing to working professionals and roommate households typical of the submarket.
Neighborhood safety indicators are comparatively favorable at the national level, placing the area roughly in the top quartile of neighborhoods nationwide. Recent year-over-year estimates show notable declines in both violent and property offense rates, according to WDSuite’s data, which supports a constructive operating backdrop for tenant retention and collections. These are neighborhood-level trends and may vary by block.
Within the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods, the area is competitive on safety, though investors should still underwrite prudent on-site measures and consider lighting, access controls, and management presence to maintain performance.
Proximity to major employers supports renter demand and commute convenience, with concentrations in life sciences, telecommunications, insurance, and entertainment that align with the area’s workforce housing profile.
- Thermo Fisher Scientific — life sciences (7.1 miles)
- Charter Communications — telecommunications (7.2 miles)
- Farmers Insurance Exchange — insurance (7.6 miles) — HQ
- Radio Disney — media (7.9 miles)
- Disney — entertainment (8.7 miles) — HQ
Built in 1989, this 20-unit asset is newer than much of the surrounding neighborhood stock (average 1972), offering relative competitiveness versus older properties while leaving room for targeted modernization of systems and interiors. Neighborhood NOI per unit trends sit above the national median, and occupancy is both nationally strong and competitive within Los Angeles—factors that point to steadier cash flow potential rather than volatility, based on CRE market data from WDSuite.
The surrounding 3-mile radius shows modest population softening but continued—and forecast—growth in household counts, implying smaller household sizes and a larger renter base over time. Elevated home values support renter reliance on multifamily, while rising incomes help underpin pricing power; operators should still monitor rent-to-income dynamics and the neighborhood’s limited park access and below-average school ratings when positioning units and amenities.
- 1989 vintage is newer than area norms, with potential value-add via selective modernization
- Strong neighborhood occupancy and above-median NOI per unit support cash flow durability
- High-cost ownership market reinforces renter demand and lease retention
- 3-mile household growth and rising incomes expand the tenant base and support rent levels
- Risks: limited park access, below-average school ratings, and affordability pressure require prudent operations