| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15614 W Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15614 W Vanowen St Van Nuys Multifamily Investment
This 25-unit property benefits from strong neighborhood occupancy at 96.8% and a predominantly rental market with 74.5% of housing units renter-occupied, according to CRE market data from WDSuite.
Van Nuys presents a stable rental environment with neighborhood occupancy rates of 96.8%, ranking in the 82nd percentile nationally. The area maintains strong renter demand with 74.5% of housing units renter-occupied, placing it in the top 2% of neighborhoods nationwide for rental concentration. Contract rents average $1,651 with 40.1% growth over five years, indicating solid pricing power for multifamily operators.
Demographics within a 3-mile radius show a population of 241,396 with 68.3% of households renting rather than owning. The area serves a diverse tenant base with 26.7% of residents aged 18-34 and median household income of $74,852. Five-year projections indicate household growth of 29.5% with median income rising to $109,168, supporting continued rental demand expansion.
Built in 1986, this property aligns with the neighborhood's average construction year of 1972, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older area buildings. The urban core location provides tenant convenience with 18.7 restaurants per square mile and solid access to childcare and pharmacy services, though park access remains limited in the immediate area.
Home values averaging $808,934 with an 11.8 value-to-income ratio reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market. The rent-to-income ratio of 0.29 suggests manageable affordability for tenants while supporting lease retention and renewal rates.
The neighborhood ranks 381st among 1,441 metro neighborhoods for crime, placing it in the 75th percentile nationally for safety. Property offense rates have declined significantly by 89.7% over the past year, ranking in the 99th percentile nationally for improvement trends. Violent offense rates also decreased by 89.3% annually, indicating strengthening security conditions that support tenant retention and property values.
While the area shows positive safety momentum, investors should monitor these trends as part of ongoing property management and tenant relations. The substantial year-over-year improvements in both property and violent crime metrics suggest effective local safety initiatives that enhance the investment environment.
The property benefits from proximity to major corporate employers within the greater Los Angeles market, providing workforce housing opportunities for professionals across entertainment, technology, and financial services sectors.
- Thermo Fisher Scientific — life sciences technology (7.0 miles)
- Charter Communications — telecommunications (7.4 miles)
- Farmers Insurance Exchange — insurance services (7.4 miles) — HQ
- Disney — entertainment and media (8.9 miles) — HQ
- Live Nation Entertainment — entertainment services (9.3 miles) — HQ
This 25-unit Van Nuys property offers stable multifamily fundamentals with neighborhood occupancy at 96.8% and strong rental market concentration at 74.5% of housing units. The 1986 construction vintage positions the asset as newer than the neighborhood average, potentially reducing near-term capital expenditure needs while maintaining competitive appeal. Demographics within a 3-mile radius support continued demand with household growth projected at 29.5% over five years and median income rising to $109,168, expanding the renter pool and supporting pricing power.
High home values averaging $808,934 with an 11.8 value-to-income ratio reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market. According to commercial real estate analysis, contract rents have grown 40.1% over five years to $1,651, indicating solid market momentum. The urban core location provides tenant convenience while proximity to major employers including Disney and Live Nation Entertainment supports workforce housing demand.
- Strong occupancy fundamentals with 96.8% neighborhood rates and 74.5% rental concentration
- Projected household growth of 29.5% and rising median incomes support demand expansion
- 1986 vintage newer than area average may reduce immediate capital requirements
- High ownership costs at 11.8 value-to-income ratio sustain rental market reliance
- Risk considerations include limited park access and school ratings below metro averages