| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16609 Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2019-02-20 |
| Transaction Price | $3,600,000 |
| Buyer | EKINS GEORGE W |
| Seller | HAWAII 11 LP |
16609 Vanowen St Van Nuys Multifamily Investment
Neighborhood occupancy is high and stable (measured for the surrounding area, not this asset), suggesting steady tenant retention, according to WDSuite’s CRE market data. Strong local amenities and elevated ownership costs in Van Nuys support durable renter demand.
Located in Van Nuys within the Los Angeles metro, the surrounding neighborhood rates A- and is competitive among 1,441 metro neighborhoods on overall livability factors. Amenity access is a clear strength—restaurants, cafes, pharmacies, and childcare density sit in the top decile nationally, supporting convenience for residents and reinforcing leasing appeal. Park access is limited, which may modestly temper outdoor amenity appeal.
For investors, the area’s occupancy rate is strong and in the top quartile among 1,441 Los Angeles neighborhoods and top decile nationally, indicating stable renter demand at the neighborhood level. Median contract rents benchmark high versus national norms, while the rent-to-income ratio sits comparatively low for the metro context, which can aid lease retention and reduce affordability pressure.
Vintage in this submarket trends early-1980s on average; this property’s 1973 construction is older than the neighborhood norm. That typically implies capital planning for building systems and common areas, but also creates potential value-add or repositioning upside versus newer competitive stock.
Within a 3-mile radius, approximately 58.5% of housing units are renter-occupied, indicating a deep tenant base for multifamily. Over the last five years, households have increased even as population edged lower, and projections call for a further increase in households alongside smaller average household sizes through 2028. This mix points to a larger renter pool over time, supporting occupancy stability and sustained demand for professionally managed units. Elevated home values (top percentile nationally for the neighborhood) further reinforce reliance on rental housing, which can support pricing power and lease-up consistency.
School ratings in the immediate area trend below national averages, which may influence family-driven demand in certain unit mixes. Even so, the broader amenity density and employment access within Los Angeles help sustain renter interest, particularly for workforce and commuter households.
Safety indicators for the neighborhood compare favorably to many areas nationwide, with overall crime levels trending safer than average. Recent estimates also show notable year-over-year declines in both violent and property offenses at the neighborhood level, according to CRE market data from WDSuite. While conditions can vary by block and over time, the comparative metrics suggest a supportive backdrop for resident retention and day-to-day livability.
Proximity to major employers supports a steady renter base and commute convenience for residents. Near-term demand is anchored by roles in life sciences, insurance, media, communications, and energy—mirrored by the employers listed below.
- Thermo Fisher Scientific — life sciences (5.8 miles)
- Farmers Insurance Exchange — insurance (6.2 miles) — HQ
- Charter Communications — communications (8.6 miles)
- Radio Disney — media (9.2 miles)
- Occidental Petroleum — energy (9.7 miles) — HQ
16609 Vanowen St is a 20-unit 1973-vintage asset positioned within a high-amenity Los Angeles neighborhood where occupancy is strong at the neighborhood level and ownership costs are elevated compared with national norms. This combination supports durable renter demand and potential pricing power relative to many U.S. submarkets. Based on commercial real estate analysis from WDSuite, the area’s amenity density and commuting access are competitive drivers for leasing stability.
The property’s older vintage suggests thoughtful capital planning and selective renovations could unlock value-add upside versus early-1980s average stock nearby. Within a 3-mile radius, a majority renter-occupied housing mix and increasing household counts—despite a smaller overall population—point to a broadening tenant base and support for occupancy stability over the medium term. Limited park access and below-average school ratings are considerations for certain renter cohorts, but proximity to diversified employment hubs can help sustain demand.
- Neighborhood occupancy strength supports leasing stability and retention
- Elevated home values reinforce reliance on rental housing and pricing power
- 1973 vintage offers value-add and modernization potential versus newer comps
- Deep renter base within 3 miles and rising household counts expand the tenant pool
- Risks: limited park access, lower school ratings, and capital expenditure needs for an older asset