| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15524 Sherman Way, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1978 |
| Units | 29 |
| Transaction Date | 2006-04-03 |
| Transaction Price | $2,800,000 |
| Buyer | GARCIA WILSON M |
| Seller | CORDARY LLC |
15524 Sherman Way, Van Nuys Multifamily Investment
Neighborhood fundamentals point to a deep renter base and steady occupancy, according to WDSuite s CRE market data, with metrics measured for the surrounding area rather than the property itself. For investors, this supports durable demand visibility in a high-cost ownership submarket.
The property sits in Van Nuys s Urban Core, where neighborhood occupancy is strong and renter demand is entrenched. The surrounding neighborhood posts an occupancy level in the top quintile nationally, and the renter-occupied share is elevated, indicating a sizable tenant pool and breadth for leasing, per commercial real estate analysis from WDSuite. Note that these occupancy and tenure indicators are measured for the neighborhood, not the property.
Local livability encourages retention: restaurants index in the top quartile nationally, with cafes and pharmacies also above national averages, while grocery access is solid. Park access is limited within the immediate neighborhood, which may require positioning amenities or walkable alternatives to maintain competitive appeal.
Home values in the neighborhood rank in the upper tiers nationally, signaling a high-cost ownership market that tends to sustain reliance on multifamily rentals and supports pricing power. At the same time, rent levels have increased over the last five years, so prudent lease management can balance growth with retention risk.
Within a 3-mile radius, households have increased and are projected to expand further even as population growth is flat to slightly negative, reflecting smaller average household sizes and a shift toward more, smaller households. That dynamic generally enlarges the renter pool and favors efficient floorplans relevant given the asset s average unit size. Built in 1978, the property is slightly newer than the neighborhood s average vintage (early 1970s), offering competitive positioning versus older stock while still warranting targeted modernization and system upgrades as part of a value-add or capital planning strategy.
Neighborhood safety trends are comparatively favorable versus many U.S. neighborhoods, landing around the upper quartiles nationally. According to WDSuite s CRE market data, both property and violent offense rates in the surrounding area show notable year-over-year declines, which supports resident retention and leasing stability. As always, safety conditions vary by micro-location, so investors should pair these macro indicators with on-site diligence.
Proximity to major corporate offices in the Valley and Westside underpins a broad commuter tenant base and supports occupancy stability. Key nearby employers include Thermo Fisher Scientific, Charter Communications, Farmers Insurance Exchange, Radio Disney, and Disney.
- Thermo Fisher Scientific corporate offices (7.2 miles)
- Charter Communications corporate offices (7.3 miles)
- Farmers Insurance Exchange corporate offices (7.6 miles) HQ
- Radio Disney corporate offices (8.2 miles)
- Disney corporate offices (8.9 miles) HQ
This 29-unit asset at 15524 Sherman Way benefits from a neighborhood with elevated occupancy and a high renter-occupied share, supporting durable leasing. According to CRE market data from WDSuite, the area s high home values reinforce multifamily reliance, while household growth within a 3-mile radius and shrinking household sizes point to a larger, more diversified renter base for smaller floorplans. Built in 1978, the property is modestly newer than the local average vintage, offering competitive standing versus older stock and potential to unlock value with selective modernization.
Operationally, strong amenity density (restaurants, cafes, pharmacies) supports resident convenience and lease retention, while recent improvements in neighborhood safety trends further aid stability. Risks include limited nearby park space, uneven school quality, and the need to calibrate rent growth to retention given prior rent gains and household budget sensitivity in Los Angeles.
- Deep neighborhood renter base and above-average occupancy support leasing stability
- High-cost ownership market sustains rental demand and pricing power potential
- 1978 vintage provides competitive positioning with value-add modernization upside
- Amenity-rich corridor enhances livability and retention for commuter tenants
- Watch for limited parks, school quality, and affordability management as key risks