| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16005 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2018-03-12 |
| Transaction Price | $5,475,000 |
| Buyer | PORTOBELLO MANAGEMENT II LLC |
| Seller | GAUR SONAL MEHTA |
16005 Vanowen St Van Nuys Multifamily Investment
Renter demand is reinforced by a high neighborhood renter-occupied share and steady occupancy, according to WDSuite’s CRE market data. Positioned in Los Angeles’ Urban Core, the asset benefits from a deep tenant base and a high-cost ownership market that supports leasing stability.
Located in Van Nuys within Los Angeles’ Urban Core, the neighborhood carries a B rating and sits above the metro median overall (ranked 627 out of 1,441 metro neighborhoods). Strong lifestyle access is evidenced by restaurants in the top national percentiles, along with solid coverage for cafes, groceries, and pharmacies. Limited park density is a noted gap, suggesting residents rely more on private or nearby regional open spaces.
For investors focused on rentability, neighborhood occupancy has been resilient and competitive among Los Angeles neighborhoods, with levels that compare favorably to national norms. The area also shows a high share of renter-occupied housing units (measured at the neighborhood level), which supports a deep tenant pool and helps stabilize leasing through cycles.
Within a 3-mile radius, household counts have grown in recent years despite modest population contraction, indicating smaller average household sizes and a broader renter pool. Projections within 3 miles point to further household growth alongside rising incomes, which can support rent levels and occupancy stability over time.
Home values rank in the upper percentiles nationally, signaling a high-cost ownership environment that tends to sustain multifamily demand and lease retention. School ratings trail national averages, which can factor into tenant mix and length of stay, while amenity access and commuting convenience within the Valley provide countervailing strengths for working households.
Neighborhood safety indicators are competitive among Los Angeles neighborhoods (crime rank is in the stronger third versus 1,441 metro neighborhoods) and compare favorably to many areas nationwide (around the top quartile nationally). Recent data also shows meaningful year-over-year improvements in both property and violent offense rates at the neighborhood level, indicating a positive directional trend rather than a guarantee. Investors should evaluate property-level measures and management practices alongside these neighborhood trends.
Proximity to major employers in the San Fernando Valley and nearby LA employment centers supports workforce housing demand and commuting convenience. Key nearby employers include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Radio Disney, and Disney.
- Thermo Fisher Scientific — life sciences (6.6 miles)
- Farmers Insurance Exchange — insurance (6.9 miles) — HQ
- Charter Communications — telecommunications (7.9 miles)
- Radio Disney — media (8.5 miles)
- Disney — entertainment (9.3 miles) — HQ
This 20-unit, 1989 vintage asset offers relative competitiveness versus older neighborhood stock, with potential to capture demand from a predominantly renter-occupied area and a high-cost ownership landscape. Neighborhood occupancy is strong and the local renter concentration is high, supporting depth of tenant demand and lease-up durability. According to CRE market data from WDSuite, the neighborhood ranks well for housing fundamentals nationally, while amenities score above average across food, cafe, and pharmacy access.
Investor considerations include limited park access and below-average school ratings at the neighborhood level, which can influence tenant composition and retention strategies. Demographic data aggregated within 3 miles shows rising household counts alongside smaller household sizes and higher incomes over time, which can support rent growth and stabilize occupancy; thoughtful capital planning for systems typical of late-1980s construction can unlock value-add potential and maintain competitive positioning.
- High neighborhood renter-occupied share and competitive occupancy support stable leasing
- 1989 vintage offers value-add/modernization pathways versus older local stock
- Amenity access and nearby employment nodes underpin renter demand
- High-cost ownership market supports tenant retention and pricing power
- Risks: limited parks, weaker school ratings, and macro sensitivity require active management