| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16547 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1977 |
| Units | 29 |
| Transaction Date | 2019-06-07 |
| Transaction Price | $4,975,000 |
| Buyer | VANOWEN LAKE BALBOA LP |
| Seller | WERTZ REALTY INVESTMENTS LLC |
16547 Vanowen St, Van Nuys Multifamily Investment
Stabilized renter demand in the surrounding neighborhood and an urban Los Angeles location support consistent leasing, according to WDSuite’s CRE market data. For investors, the combination of a value-add 1977 vintage and strong local occupancy trends offers a pragmatic path to durable income with targeted upgrades.
Located in Van Nuys within the Los Angeles metro, the neighborhood ranks 336 out of 1,441 metro neighborhoods — placing it in the top quartile locally for overall performance. Dining and daily-needs access are a strength: restaurant density sits in the 96th percentile nationally, with cafes and pharmacies in the mid-90s percentiles, and grocery options above the national average. Park access is limited, which may temper outdoor amenity appeal relative to other Los Angeles subareas.
Multifamily fundamentals are constructive. Neighborhood occupancy is elevated versus many peer areas and sits in the upper national decile, supporting leasing stability and renewal potential. Within a 3-mile radius, a majority of housing units are renter-occupied, indicating a deep tenant base for small to mid-size multifamily assets and consistent demand for professionally managed rentals.
The asset’s 1977 construction is modestly older than the neighborhood’s average vintage (early 1980s). For investors, this often translates to clear value-add avenues — unit interiors, common areas, and building systems — that can sharpen competitiveness against newer stock while planning for ongoing capital needs.
Home values in the neighborhood test in the mid-90s national percentiles and value-to-income levels are similarly high, reflecting a high-cost ownership market. That dynamic tends to reinforce renter reliance on multifamily housing and can support pricing power and retention, while the area’s rent-to-income positioning suggests room for disciplined rent management without overextending affordability.
Demographics aggregated within a 3-mile radius indicate steady household formation despite a softer population trend, with smaller average household sizes over the outlook period. This shift can expand the renter pool for efficient unit mixes and supports occupancy stability when paired with the neighborhood’s amenity access and employment connectivity.
Safety trends are comparatively favorable in a regional and national context. The neighborhood’s composite crime profile places it in the upper tiers nationally, indicating relatively safer conditions than many U.S. neighborhoods. Recent year-over-year declines in both property and violent offense rates further point to improving conditions, though safety can vary block to block and should be validated during due diligence.
Proximity to established employers supports a broad renter base seeking commute convenience, notably in insurance, energy, media, and life sciences. Nearby anchors include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Occidental Petroleum.
- Thermo Fisher Scientific — life sciences (5.9 miles)
- Farmers Insurance Exchange — insurance (6.2 miles) — HQ
- Charter Communications — telecommunications (8.6 miles)
- Radio Disney — media (9.2 miles)
- Occidental Petroleum — energy (9.7 miles) — HQ
16547 Vanowen St is a 29-unit property built in 1977, positioned in a Los Angeles urban-core neighborhood with strong renter demand signals. Neighborhood occupancy trends are high and the local market skews renter-occupied within a 3-mile radius, indicating depth for leasing and renewals. Elevated home values relative to incomes create a high-cost ownership market that tends to sustain multifamily demand and supports disciplined rent strategies, while robust amenity access reinforces livability. Based on CRE market data from WDSuite, the area’s performance ranks competitively across the metro and compares favorably to national benchmarks for dining and daily services.
The 1977 vintage provides a clear value-add thesis: targeted interior modernization and selective system upgrades can lift renter appeal and retention against newer stock. Risks to underwrite include limited park access, below-average school ratings, and the need for ongoing capital planning typical of older assets. Even so, proximity to major employers and an entrenched renter base provide durable demand drivers for long-term ownership.
- Strong neighborhood occupancy and majority renter-occupied housing within 3 miles support leasing stability
- High-cost ownership market reinforces renter demand and pricing power for well-managed assets
- 1977 vintage offers value-add potential through unit and system upgrades
- Amenity-rich urban location near employers underpins tenant retention
- Risks: limited parks, weaker school ratings, and capex needs typical of older buildings