| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15909 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1979 |
| Units | 21 |
| Transaction Date | 1997-09-23 |
| Transaction Price | $762,000 |
| Buyer | FEINSTEIN JAMES RONALD |
| Seller | FNB REAL ESTATE CORP |
15909 Vanowen St, Van Nuys Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite s CRE market data. These indicators reflect the surrounding area s stability rather than the specific property s performance.
The property sits in an Urban Core pocket of Van Nuys with a B neighborhood rating and a track record of solid renter demand. Neighborhood occupancy trends are elevated versus many U.S. areas, supporting lease-up and retention potential, and median asking rents in the area have grown meaningfully over the past five years, based on WDSuite s CRE market data. These metrics describe the neighborhood and not the property s own occupancy or rent roll.
Relative to the Los Angeles-Long Beach-Glendale metro, amenity access is competitive (ranked 393 out of 1,441 neighborhoods), with strong restaurant, cafe, and pharmacy density contributing to day-to-day convenience. Housing performance also ranks competitively (361 of 1,441), indicating a submarket that has held renter interest compared with the broader metro. Park access is limited within the immediate area, which may temper some lifestyle appeal.
Home values in the neighborhood are elevated versus national norms, and ownership costs are high relative to incomes (value-to-income metrics are among the highest nationally). For multifamily investors, this typically reinforces reliance on rental housing and can support pricing power, while the neighborhood s rent-to-income levels suggest manageable affordability pressure that can aid lease retention. These are neighborhood-level indicators, not property-specific affordability metrics.
Within a 3-mile radius, demographic data show household counts have increased in recent years even as average household size has edged lower, expanding the potential tenant base. Looking ahead, forecasts point to continued growth in households alongside smaller household sizes, which can translate to a broader pool of renters and support occupancy stability over time.
Neighborhood safety metrics are comparatively favorable. The area ranks 381 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it competitive within the metro. Nationally, it performs around the top quartile for overall safety, and recent year-over-year estimates indicate notable improvement in both property and violent offense rates. These are neighborhood-level indicators intended to contextualize risk rather than describe block-level conditions.
Proximity to diversified employment centers supports renter demand and commute convenience, including life sciences, insurance, telecommunications, media, and entertainment employers noted below.
- Thermo Fisher Scientific life sciences (6.7 miles)
- Farmers Insurance Exchange insurance (7.1 miles) HQ
- Charter Communications telecommunications (7.8 miles)
- Radio Disney media (8.4 miles)
- Disney entertainment (9.2 miles) HQ
15909 Vanowen St is a 21-unit asset positioned in a Los Angeles Urban Core neighborhood that demonstrates resilient renter demand and high occupancy at the neighborhood level. According to CRE market data from WDSuite, the area s occupancy and amenity access compare well within the metro, while elevated home values relative to incomes tend to reinforce reliance on multifamily housing. These dynamics, combined with steady household growth within a 3-mile radius, point to a durable tenant base and support for rent collections and retention.
Built in 1979, the asset is newer than the neighborhood s average vintage, which can enhance competitive positioning versus older stock. At the same time, investors should underwrite typical late-1970s building needs from system modernization to common-area updates to unlock value-add potential and support rentability versus comparable product.
- Neighborhood occupancy trends and renter depth support leasing stability
- High-cost ownership market bolsters multifamily demand and pricing power
- 1979 vintage offers value-add upside through targeted renovations
- Amenity-rich corridor with strong access to dining and services
- Risks: limited park access and below-metro school ratings may affect some demand segments