| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16812 Sherman Way, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 50 |
| Transaction Date | 2004-07-12 |
| Transaction Price | $5,100,000 |
| Buyer | 6TH ST GOVERNOR LLC |
| Seller | 16812 SHERMAN WAY LLC |
16812 Sherman Way Van Nuys Multifamily Investment
This 50-unit property benefits from neighborhood-level occupancy of 98.1%, well above metro averages, while elevated home values sustain rental demand in a renter-concentrated market according to WDSuite's CRE market data.
Van Nuys presents a mature urban core environment with strong fundamentals for multifamily investment. The neighborhood ranks among the top quartile nationally for amenity access, with high concentrations of restaurants, cafes, and essential services that support tenant retention. With 57.7% of housing units renter-occupied within a 3-mile radius, the area maintains a substantial tenant base that reinforces rental demand stability.
Neighborhood-level occupancy trends show resilience at 98.1%, ranking in the 90th national percentile and significantly outperforming broader metro averages. The property's 1986 construction year aligns closely with the neighborhood average of 1981, reducing capital expenditure disparities while offering potential value-add opportunities through targeted renovations. Median home values of $772,343 represent a 71% increase over five years, limiting ownership accessibility and sustaining reliance on rental housing among local households.
Demographics within a 3-mile radius indicate household income growth, with median household income projected to increase 50% by 2028 to $121,810, expanding the qualified renter pool. The forecast anticipates a 32% increase in total households, supporting absorption potential despite modest population decline. Contract rents have grown 35% over five years to $1,765 median, with projections showing continued upward momentum to $2,446 by 2028.
Safety metrics show mixed but improving trends for the Van Nuys area. The neighborhood ranks 260th of 1,441 metro neighborhoods for overall crime, placing it in the 79th national percentile for safety compared to neighborhoods nationwide. Property offense rates have declined significantly by 81% year-over-year, while violent crime rates dropped 96%, indicating positive momentum in public safety conditions.
These improvements reflect broader area stabilization efforts, though investors should consider that safety perceptions can influence tenant retention and lease-up velocity. The substantial year-over-year crime reductions suggest the neighborhood is experiencing positive change, which may support longer-term occupancy stability and resident satisfaction.
The Van Nuys location provides access to major corporate employers across the San Fernando Valley and greater Los Angeles region, supporting workforce housing demand from diverse industries including technology, insurance, entertainment, and energy sectors.
- Thermo Fisher Scientific — life sciences and laboratory services (5.7 miles)
- Farmers Insurance Exchange — insurance services (6.0 miles) — HQ
- Charter Communications — telecommunications and media (8.9 miles)
- Disney — entertainment and media (10.4 miles) — HQ
- Live Nation Entertainment — live entertainment and ticketing (10.5 miles) — HQ
This Van Nuys property offers compelling fundamentals anchored by exceptional neighborhood occupancy performance and sustained rental demand drivers. The 98.1% neighborhood-level occupancy rate ranks in the 90th national percentile, demonstrating tenant retention strength that exceeds broader Los Angeles metro averages. Elevated home values at $772,343 median create a substantial ownership barrier, reinforcing rental housing reliance among area households and supporting lease renewal rates.
The 1986 construction vintage aligns with neighborhood norms while presenting targeted value-add opportunities through unit improvements and amenity upgrades. Demographic projections within a 3-mile radius show household income growth to $121,810 by 2028, expanding the qualified tenant base, while a projected 32% increase in total households supports absorption potential according to multifamily property research from WDSuite.
- Neighborhood occupancy at 98.1% ranks 90th percentile nationally, indicating strong tenant retention
- Home values 71% above five-year average sustain rental demand by limiting ownership accessibility
- 57.7% renter-occupied housing concentration provides substantial tenant base depth
- Projected 50% household income growth and 32% household increase support rent growth potential
- Risk consideration: School ratings below average may limit family tenant appeal and retention