| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16750 Sherman Way, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1976 |
| Units | 45 |
| Transaction Date | 2014-10-31 |
| Transaction Price | $2,500,000 |
| Buyer | NEWMARK CAROL F |
| Seller | SILVERBERG WARREN |
16750 Sherman Way Van Nuys Multifamily Investment
Neighborhood occupancy trends are resilient and supportive of stable operations, according to WDSuite’s CRE market data. Positioned in Los Angeles’ San Fernando Valley, the asset benefits from deep regional renter demand and commuter access.
Located in Van Nuys’ Urban Core setting, the property sits in a neighborhood rated A- that is above the metro median (ranked 336 out of 1,441 Los Angeles metro neighborhoods). Amenity density is a relative strength: cafes, restaurants, groceries, and pharmacies score in the upper national percentiles, pointing to convenient daily needs and lifestyle services that support leasing and retention.
Rents and occupancy at the neighborhood level are favorable for operators. Occupancy is in the top decile nationally, indicating limited vacancy risk and steady tenant rollover conditions, based on CRE market data from WDSuite. Median contract rents track in the higher national percentiles, but local rent-to-income metrics are relatively manageable versus many coastal submarkets, which can help stabilize retention.
Within a 3-mile radius, households have edged up while average household size has trended lower, and projections call for a notable increase in household count over the next five years. That shift points to a larger tenant base even as population growth is muted, expanding the pool of renters and supporting occupancy and leasing velocity. The share of housing units that are renter-occupied in the 3-mile area is elevated, reinforcing depth of demand for multifamily.
Home values in the neighborhood sit in the upper national percentiles, reflecting a high-cost ownership market. For investors, that typically sustains reliance on rental housing and can support pricing power and lease-up efficiency. Offsetting considerations include limited park access and below-average school ratings locally; operators may lean more on amenity, service quality, and unit finishes to compete for households prioritizing convenience.
The asset’s 1976 vintage is slightly older than the neighborhood’s average construction year. That age profile suggests planning for ongoing capital expenditures and presents potential value-add opportunities through unit and systems modernization to remain competitive against newer stock.
Safety outcomes compare favorably in a metro context and are competitive among Los Angeles neighborhoods. With a crime rank of 260 out of 1,441 metro neighborhoods, the area performs in the top quartile locally and scores in the upper national percentiles, indicating comparatively safer conditions than many urban peers.
Recent trend indicators also show improvement: both violent and property offense rates have moved lower year over year, with reductions that place the neighborhood among stronger improvers nationally. As always, investors should evaluate submarket and corridor-level dynamics as part of site due diligence rather than relying on block-level assumptions.
Proximity to established corporate employers underpins a broad commuter tenant base and supports leasing stability. Nearby employers include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Radio Disney, and Occidental Petroleum.
- Thermo Fisher Scientific — corporate offices (5.7 miles)
- Farmers Insurance Exchange — corporate offices (6.1 miles) — HQ
- Charter Communications — corporate offices (8.8 miles)
- Radio Disney — corporate offices (9.6 miles)
- Occidental Petroleum — corporate offices (10.3 miles) — HQ
16750 Sherman Way is a 45-unit multifamily asset with average unit sizes around 713 square feet, positioned in a high-amenity Van Nuys pocket where neighborhood occupancy runs strong and renter demand is reinforced by a large commuter workforce. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood ranks above the metro median and sits in the upper national percentiles for amenity access, supporting tenant retention and steady leasing.
Built in 1976, the property is slightly older than nearby stock, creating scope for targeted value-add and systems upgrades to enhance competitiveness against newer product. High home values in the area point to a high-cost ownership market, which tends to sustain multifamily reliance and pricing power, while the 3-mile trade area shows a rising household count and a sizable renter-occupied share that supports occupancy stability.
- Strong neighborhood occupancy and amenity depth support stable leasing and retention
- High-cost ownership market reinforces renter demand and potential pricing power
- 3-mile trade area shows growing household counts and elevated renter-occupied share
- 1976 vintage presents value-add potential via unit/interior and systems modernization
- Risks: below-average local school ratings, limited park access, and capex needs typical of older assets