| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15736 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 2003 |
| Units | 42 |
| Transaction Date | 2002-01-23 |
| Transaction Price | $450,000 |
| Buyer | NEW HOMES 2000 LLC |
| Seller | CHELZINGER MICHA |
15736 Vanowen St Van Nuys Multifamily Investment
Neighborhood occupancy is steady with a large renter-occupied base, supporting durable leasing for a 42-unit asset, according to WDSuite’s CRE market data. Elevated ownership costs in Los Angeles tend to reinforce renter reliance on multifamily housing.
The property sits in an Urban Core pocket of Van Nuys where neighborhood occupancy trends are strong (neighborhood occupancy is in the top quartile nationally), and renter-occupied units comprise a high share of housing, indicating depth in the tenant base. Median contract rents in the neighborhood have risen over the past five years, and the area’s high-cost ownership market (home values rank in the top national percentiles) supports lease retention and pricing power for quality rental product.
Amenities are competitive among Los Angeles neighborhoods (ranked 393 out of 1,441 locally; 70th percentile nationally), with strong restaurant density (96th percentile) and above-average access to cafes, groceries, and pharmacies. Park space is limited within the neighborhood context, which may modestly affect lifestyle appeal for some renters and is worth factoring into amenity programming.
Schools in the neighborhood score below national averages (15th percentile for average school rating), an element that can influence unit mix performance for family renters; however, proximity to employment centers and transit-oriented lifestyles typical of the San Fernando Valley often sustain demand among working households and young professionals.
Demographic statistics aggregated within a 3-mile radius show households have grown in recent years while total population edged down slightly, pointing to smaller household sizes and a broader pool of renting households. Looking ahead, WDSuite’s data indicate continued growth in the number of households and higher median incomes, which can support occupancy stability and rent performance for well-maintained, mid-size assets.
Built in 2003, the asset is newer than the neighborhood’s average vintage (1970s). That positioning can offer a competitiveness edge versus older stock, while investors should still plan for mid-life system updates and selective renovations to meet current renter expectations.
Neighborhood safety indicators compare favorably at a national level: overall crime sits in the top quartile for safety nationally, while property offense levels are better than the national midpoint. Violent offense indicators track closer to the national middle. Recent WDSuite data also show notable one-year improvements in both violent and property offense rates. As with any urban Los Angeles submarket, outcomes can vary by block and over time, so investors should underwrite to ongoing monitoring and standard security best practices rather than point-in-time readings.
Proximity to major corporate employers across insurance, media, communications, and life sciences supports a broad commuting renter pool and can aid retention for workforce-oriented units near key Valley and Westside job corridors.
- Thermo Fisher Scientific — life sciences (6.9 miles)
- Farmers Insurance Exchange — insurance (7.3 miles) — HQ
- Charter Communications — communications (7.5 miles)
- Radio Disney — media (8.2 miles)
- Disney — media & entertainment (9.0 miles) — HQ
This 42-unit, 2003-vintage property offers relative competitive positioning versus older neighborhood stock while tapping into a high-renter, high-occupancy Urban Core in Van Nuys. Elevated for-sale home values locally bolster reliance on rentals, and the neighborhood’s occupancy sits above national norms, supporting cash flow durability. According to commercial real estate analysis from WDSuite, the surrounding area exhibits strong amenity access and a diverse employment base, with household growth and income gains within a 3-mile radius that can expand the tenant pool over time.
Key considerations include limited park availability and lower average school ratings, which may influence certain renter cohorts. Mid-life capital planning is prudent given the 2003 vintage, but the asset’s era of construction should help it compete well against older buildings while targeted updates can capture value-add upside.
- High renter concentration and above-average occupancy support stable leasing
- 2003 construction provides competitive position versus older local stock with selective value-add potential
- Strong amenity access and proximity to major employers underpin tenant demand
- Elevated ownership costs in Los Angeles reinforce multifamily demand and pricing power
- Risks: limited park space, weaker school ratings, and typical urban variability warrant conservative underwriting