| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16819 W Vanowen St, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 53 |
| Transaction Date | 1997-09-02 |
| Transaction Price | $2,960,000 |
| Buyer | LASALLE NATIONAL BANK |
| Seller | WDC VANOWEN ASSOCIATES |
16819 W Vanowen St Van Nuys Multifamily Investment
This 53-unit property benefits from neighborhood-level occupancy rates of 98.1%, indicating strong tenant retention in an area with substantial renter demand. According to WDSuite's CRE market data, the location maintains competitive fundamentals within the Los Angeles metro's diverse multifamily landscape.
The Van Nuys neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for amenity access, with high-density dining and essential services supporting tenant appeal. Neighborhood-level occupancy trends remain robust at 98.1%, well above many comparable urban markets, while median contract rents of $2,031 reflect the area's positioning within the broader Los Angeles rental ecosystem.
Demographics within a 3-mile radius show household growth of 3.0% over the past five years, with 57.4% of housing units occupied by renters. Median household income has increased 32.2% to $82,979, while projected income growth of 50.9% through 2028 suggests continued rental demand expansion. The area's substantial renter population provides a stable tenant base for multifamily operators.
Built in 1986, the property aligns with the neighborhood's average construction year of 1981, minimizing obsolescence risk while potentially offering targeted value-add opportunities. Home values averaging $772,343 create affordability challenges for homeownership, which can support rental retention as households remain in the rental market longer. The neighborhood's urban core designation reflects transit accessibility and employment proximity that appeals to renters seeking convenience.
The neighborhood demonstrates improving safety trends, ranking 260th of 1,441 Los Angeles metro neighborhoods for overall crime metrics, placing it in the 79th percentile nationally. Property crime rates have declined significantly by 80.8% year-over-year, while violent crime has decreased 96.2%, indicating substantial improvement in local security conditions.
These positive safety trends can support tenant retention and property values, though investors should monitor ongoing improvements and consider the neighborhood's urban core environment when evaluating long-term stability and insurance considerations.
The Van Nuys location benefits from proximity to major corporate employers across entertainment, technology, and financial services, supporting diverse employment-driven rental demand from professional tenants.
- Thermo Fisher Scientific — life sciences & technology (5.5 miles)
- Farmers Insurance Exchange — insurance services (5.9 miles) — HQ
- Charter Communications — telecommunications (8.9 miles)
- Radio Disney — media & entertainment (9.5 miles)
- Occidental Petroleum — energy (9.8 miles) — HQ
This 53-unit Van Nuys property offers stable fundamentals within a high-occupancy neighborhood, supported by diverse employment and strong renter demographics. The 1986 construction year aligns with area norms while providing potential renovation upside, and neighborhood-level occupancy of 98.1% indicates consistent tenant demand. Projected household income growth of 50.9% through 2028 and increasing household formation support long-term rental demand expansion.
Commercial real estate analysis from WDSuite confirms the area's competitive positioning, with improving safety metrics and substantial amenity density enhancing tenant appeal. The high home value-to-income ratio creates natural barriers to homeownership, supporting rental market stability as households remain in the rental pool longer.
- Neighborhood occupancy of 98.1% demonstrates strong tenant retention and demand
- Projected 50.9% household income growth through 2028 supports rent growth potential
- High home values relative to income maintain rental demand as ownership remains challenging
- 1986 vintage offers renovation upside while aligning with neighborhood construction patterns
- Risk: Urban core location requires ongoing attention to safety trends and tenant mix management