| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15507 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2018-07-03 |
| Transaction Price | $3,970,000 |
| Buyer | RUNIN REB LTD |
| Seller | 15507 VANOWEN STREET LLC |
15507 Vanowen St Van Nuys Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite s CRE market data, with ownership costs in Van Nuys supporting sustained reliance on rental housing. For investors, this location offers stable cash flow dynamics with potential to enhance positioning over time.
Van Nuys Urban Core location provides everyday convenience that supports leasing stability. Neighborhood amenity access is competitive nationally, led by strong restaurant density (top decile) and solid coverage of cafes, groceries, and pharmacies. Average public school ratings in the area track below national norms, which may temper family-driven demand but does not typically diminish workforce-oriented renter interest in similar Los Angeles submarkets.
For the neighborhood, occupancy is high and steady, with the area trending in the low-to-mid 90s and ranked in the upper national percentiles. Renter concentration is also elevated about three-quarters of housing units are renter-occupied which points to a deep tenant base and generally resilient multifamily demand. Median contract rents in the neighborhood sit in the low-$1,600s and have increased meaningfully over the past five years, reinforcing the need for deliberate lease management and renewals.
Within a 3-mile radius, demographics show a slight population decrease over the last five years alongside an increase in the number of households, indicating smaller household sizes and a gradual shift toward more renters entering the market. Forecasts point to continued household growth through 2028, which should expand the local tenant pool and support occupancy stability even if population growth remains muted.
The property s 1977 vintage is a bit newer than the neighborhood s early-1970s average. That positioning can be competitive against older stock in this part of Los Angeles, while still presenting opportunities for targeted system updates, common-area refreshes, or in-unit renovations to drive rent premiums relative to legacy properties.
Elevated home values locally (well above national averages) characterize this as a high-cost ownership market. For multifamily investors, that typically sustains renter reliance on apartments and supports pricing power, though it also warrants careful monitoring of rent-to-income ratios to protect retention.
Safety indicators for the neighborhood are mixed but improving. Overall crime levels benchmark better than many U.S. neighborhoods (upper national percentiles), while violent offense measures sit closer to mid-range. Recent year-over-year data from WDSuite shows substantial declines in both property and violent offense rates, suggesting positive momentum; investors should still underwrite to local operating practices and professional management to maintain resident confidence.
Nearby corporate employment centers provide a broad white-collar and tech-media employment base that supports renter demand and commute convenience, including Thermo Fisher Scientific, Charter Communications, Farmers Insurance, Radio Disney, and Disney headquarters.
- Thermo Fisher Scientific life sciences offices (7.1 miles)
- Charter Communications telecommunications offices (7.3 miles)
- Farmers Insurance Exchange insurance services (7.5 miles) HQ
- Radio Disney media offices (7.9 miles)
- Disney entertainment studios & corporate (8.8 miles) HQ
This 23-unit asset sits in a renter-heavy Los Angeles neighborhood where occupancy runs in the upper national percentiles and the share of renter-occupied housing is high, supporting depth of demand and day-one leasing stability. Elevated home values relative to incomes indicate a high-cost ownership market, which typically sustains reliance on multifamily housing and can support pricing power when combined with disciplined renewals, according to CRE market data from WDSuite.
Built in 1977, the property is slightly newer than the area s early-1970s average, offering an edge versus older stock while leaving room for targeted capital plans from system upgrades to interior refreshes to capture incremental rent. Within a 3-mile radius, the number of households has been rising even as population trends are flat to slightly negative, a pattern that usually expands the renter pool and supports occupancy through smaller household sizes and more single-tenant demand.
- High neighborhood occupancy and elevated renter-occupied share support stable leasing
- High-cost ownership market reinforces rental demand and potential pricing power
- 1977 vintage offers competitive positioning with value-add renovation upside
- 3-mile household growth indicates a larger tenant base even with flat population
- Risk: below-average school ratings and affordability pressure require careful lease management