| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15928 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 31 |
| Transaction Date | 2022-03-22 |
| Transaction Price | $10,100,000 |
| Buyer | BALBOA WEST LLC |
| Seller | GLORIA RUTH KOEHLER LIVING TRUST |
15928 Vanowen St, Van Nuys Multifamily Investment
Neighborhood-level occupancy is strong and stable, supporting cash flow durability for a 31-unit asset in Van Nuys, according to WDSuite’s CRE market data. Renter demand is reinforced by a high-cost ownership landscape in Los Angeles, which typically sustains leasing velocity for well-located properties.
This Urban Core neighborhood in the Los Angeles-Long Beach-Glendale metro carries a B rating and demonstrates durable rental performance. Neighborhood occupancy sits in the top quartile nationally and is competitive among 1,441 Los Angeles-area neighborhoods, signaling steady lease-up and retention for multifamily operators (source: WDSuite).
The area shows a high renter concentration, with a large share of housing units renter-occupied, placing the neighborhood in the upper tier nationally. For investors, this points to a deep tenant base and demand stability across product classes. Median contract rents trend above many U.S. locations, while rent-to-income levels near the neighborhood suggest manageable affordability for retention-focused strategies.
Livability drivers are mixed but generally supportive. Dining density ranks among the stronger cohorts nationally, and everyday conveniences like pharmacies and groceries score above the U.S. median; however, the average school rating is low relative to national benchmarks, which may shape unit mix strategy and marketing. Compared with metro peers, amenity access is above the median, aiding leasing appeal for working households.
The property’s 1986 vintage is newer than the neighborhood’s average construction year (1972). That relative youth can reduce near-term capital expenditures versus older stock, while still leaving room for targeted system updates or interior modernization to enhance competitive positioning.
Within a 3-mile radius, recent demographic patterns show a slight population contraction alongside an increase in total households and smaller household sizes. For multifamily owners, this combination typically supports a larger renter pool and sustained occupancy, particularly in professionally managed buildings. Elevated home values across the neighborhood—among the highest percentiles nationally—reinforce reliance on rental housing, which can support pricing power and renewal capture when managed carefully.
Based on WDSuite’s CRE market data, overall crime indicators place the neighborhood in the top quartile nationally for safety, a favorable comparative position for Los Angeles. Year over year, both property and violent offense estimates show sharp declines, ranking among the strongest improvements nationally. Conditions can vary by block and building, so underwriting should consider property-level security, lighting, and management practices.
Nearby employers span life sciences, insurance, telecom, and media/entertainment, supporting a diverse renter base and commute-friendly housing demand for Van Nuys multifamily.
- Thermo Fisher Scientific — life sciences (6.6 miles)
- Farmers Insurance Exchange — insurance (7.0 miles) — HQ
- Charter Communications — telecom (7.8 miles)
- Radio Disney — media (8.4 miles)
- Disney — entertainment (9.3 miles) — HQ
15928 Vanowen St offers a 31-unit, 1986-vintage asset in a renter-heavy Los Angeles neighborhood where occupancy is both nationally strong and competitive within the metro. Elevated home values relative to incomes indicate a high-cost ownership market that tends to sustain multifamily demand and support lease retention. According to CRE market data from WDSuite, neighborhood-level occupancy trends remain solid, while the area’s amenity access and everyday services underpin day-to-day livability for renters.
Demographic signals within a 3-mile radius point to a modest population dip alongside household growth and shrinking household sizes—conditions that often expand the renter pool and help stabilize absorption. Given the asset’s newer-than-average vintage for the neighborhood, targeted modernization and unit refreshes can enhance competitiveness against older stock, while disciplined management can navigate softer elements such as school quality and cyclical sensitivity.
- Strong neighborhood occupancy and deep renter-occupied share support leasing stability
- High-cost ownership environment reinforces reliance on multifamily housing and pricing power
- 1986 vintage offers relative capex efficiency with value-add potential via targeted updates
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risks: lower school ratings, localized safety variation, and macro sensitivity warrant conservative underwriting