| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16505 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1979 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
16505 Vanowen St, Van Nuys Multifamily Investment
Neighborhood fundamentals point to durable renter demand, with occupancy in the surrounding area near 98% according to WDSuite’s CRE market data. Positioned in the San Fernando Valley, the asset benefits from established amenities and a deep tenant base that supports income stability.
This Van Nuys address sits in an Urban Core pocket rated A- and competitive within the Los Angeles-Long Beach-Glendale metro, landing in the top quartile among 1,441 metro neighborhoods. Amenity access is a clear strength: restaurants and cafes index in the mid-90s nationally, with strong coverage of pharmacies and groceries as well. The trade-off is limited park space locally, so outdoor access relies more on regional offerings than immediate walk-to green space.
For investors, renter demand indicators are constructive. The neighborhood’s occupancy trend is strong (around 98% and above national norms), while median contract rents have risen over the last five years against a backdrop of solid household incomes. Elevated home values relative to incomes signal a high-cost ownership market, which typically sustains reliance on multifamily housing and supports lease retention and pricing power.
Within a 3-mile radius, approximately 59% of housing units are renter-occupied, indicating a sizable tenant base and ongoing depth for leasing. Over the same 3-mile radius, households have increased even as population edged lower, implying smaller household sizes and a potential shift toward more rental households—factors that can help support occupancy stability and day-to-day leasing velocity.
Vintage matters for underwriting. Built in 1979, the property is slightly older than the neighborhood average (1981). That age profile suggests manageable capital planning today and potential value-add or system modernization to enhance competitiveness versus newer product. School quality in the neighborhood trends below national averages, which merits consideration for tenant mix but does not typically dominate demand drivers in workforce-oriented multifamily near major employment corridors.
Safety metrics for the neighborhood compare favorably in a national context, with overall conditions trending in the stronger range nationwide. According to CRE market data from WDSuite, both violent and property offense rates have shown notable year-over-year improvement, which supports renter retention and long-term leasing stability. As with any urban Los Angeles location, patterns can vary by block and over time, so investors should pair these macro indicators with on-the-ground diligence.
Proximity to major employers across insurance, life sciences, media, and energy underpins steady commuter demand and supports resident retention. Nearby anchors include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Radio Disney, and Occidental Petroleum.
- Thermo Fisher Scientific — scientific instruments (5.9 miles)
- Farmers Insurance Exchange — insurance (6.3 miles) — HQ
- Charter Communications — telecommunications (8.5 miles)
- Radio Disney — media (9.1 miles)
- Occidental Petroleum — energy (9.7 miles) — HQ
16505 Vanowen St offers scale at 65 units in a high-amenity Van Nuys location where neighborhood occupancy is strong and renter concentration within a 3-mile radius is substantial. Elevated home values relative to incomes point to a high-cost ownership market, which tends to reinforce multifamily demand and support pricing power. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile metro-wide and shows robust restaurant, cafe, and daily-needs access—drivers that help sustain leasing and retention.
The 1979 vintage suggests a practical path for targeted value-add—interiors, common areas, and selective building systems—aimed at improving competitive positioning against newer stock. While school ratings and limited nearby park acreage warrant underwriting caution, year-over-year safety improvements and a diversified employment base help balance risk, supporting a long-term hold thesis focused on occupancy stability and incremental NOI growth.
- Strong neighborhood occupancy and sizable 3-mile renter base support stable lease-up and retention
- High-cost ownership market reinforces reliance on rentals, aiding pricing power
- 1979 vintage provides value-add and modernization pathways to enhance competitiveness
- Amenity-rich location near diverse employers supports day-to-day renter demand
- Risks: lower school ratings and limited parks; mitigate via tenant targeting and asset upgrades