| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15950 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1975 |
| Units | 21 |
| Transaction Date | 1999-09-10 |
| Transaction Price | $564,000 |
| Buyer | FLORENTIN ABRAHAM |
| Seller | FEDERAL NATIONAL MORTGAGE ASSOCIATION |
15950 Vanowen St Van Nuys Multifamily Investment
This 21-unit property sits in an Urban Core neighborhood where 96.8% occupancy and 74.5% renter share indicate strong multifamily fundamentals. According to WDSuite's CRE market data, the area ranks in the top quartile nationally for rental housing demand.
This Van Nuys neighborhood demonstrates strong rental market fundamentals with 96.8% occupancy and ranks in the 82nd percentile nationally for occupancy stability. The area maintains a heavily renter-focused housing stock, with 74.5% of units occupied by tenants—placing it in the 98th percentile nationally for rental share among Los Angeles metro neighborhoods.
Built in 1975, this property aligns with the neighborhood's average construction year of 1972, indicating consistent building stock that may present value-add renovation opportunities. Demographics within a 3-mile radius show 219,837 residents with median household income of $78,593, supporting sustainable rental demand. The area's median contract rent of $1,651 has grown 40.1% over five years, demonstrating pricing power.
Amenity density supports tenant retention with 1.04 cafes, grocery stores, and pharmacies per square mile, plus 18.70 restaurants per square mile ranking in the 96th percentile nationally. While the neighborhood lacks parks and shows below-average school ratings, the strong occupancy metrics and rental tenure patterns indicate these factors have minimal impact on multifamily performance in this urban core location.
Crime metrics show mixed trends for this Van Nuys neighborhood. The area ranks 381st among 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 75th percentile nationally—indicating above-average safety performance compared to neighborhoods nationwide.
Recent crime trends show significant improvement, with both property and violent offense rates declining by approximately 90% year-over-year. Property offense rates rank in the 99th percentile nationally for improvement trends, while violent crime rates also show substantial reduction. These declining crime trends may support tenant retention and leasing velocity going forward.
The Van Nuys area benefits from proximity to major corporate employers across entertainment, insurance, and technology sectors, providing diverse workforce housing demand within a 10-mile radius.
- Thermo Fisher Scientific — life sciences technology (6.6 miles)
- Farmers Insurance Exchange — insurance services (7.0 miles) — HQ
- Charter Communications — telecommunications (7.8 miles)
- Disney — entertainment and media (9.3 miles) — HQ
- Live Nation Entertainment — entertainment services (9.5 miles) — HQ
This Van Nuys multifamily property presents a compelling investment case anchored by strong occupancy fundamentals and rental market dynamics. The neighborhood's 96.8% occupancy rate and 74.5% renter share create a stable tenant base, while recent rent growth of 40.1% over five years demonstrates pricing power. Built in 1975, the property offers potential value-add opportunities through strategic renovations in a market where similar vintage assets comprise the neighborhood norm.
Demographics within a 3-mile radius support long-term rental demand, with forecast data indicating household growth and rising incomes through 2028. Commercial real estate analysis from WDSuite shows the area ranking in the top quartile nationally for rental housing fundamentals, while proximity to major employers including Disney and Farmers Insurance headquarters provides workforce stability within commuting distance.
- Strong occupancy at 96.8% with 98th percentile national ranking for renter share
- Demonstrated rent growth of 40.1% over five years indicating pricing power
- Value-add potential through 1975 construction vintage alignment with neighborhood stock
- Proximity to major corporate headquarters supporting workforce housing demand
- Risk: Below-average school ratings and lack of parks may limit family tenant appeal