| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 88th | Best |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5637 Hazeltine Ave, Van Nuys, CA, 91401, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 40 |
| Transaction Date | 1998-04-03 |
| Transaction Price | $2,155,000 |
| Buyer | 5637 HAZELTINE LLC |
| Seller | UNIVERSAL EXCHANGE PARTNERS LLC |
5637 Hazeltine Ave Van Nuys Multifamily Investment
This 40-unit property built in 1986 sits in a neighborhood ranking in the top 16 among 1,441 Los Angeles metro neighborhoods with 96.9% occupancy rates. According to CRE market data from WDSuite, the area demonstrates strong rental fundamentals with rents rising 31% over five years.
Van Nuys demonstrates strong multifamily fundamentals with neighborhood-level occupancy at 96.9%, ranking in the 83rd percentile nationally. The area maintains a 55.8% renter-occupied housing unit share, placing it in the 92nd percentile nationwide for rental demand depth. With 66.4% of housing units occupied by renters within a 3-mile radius, the broader market reinforces sustained tenant demand.
The property's 1986 construction year aligns with the neighborhood average, suggesting potential value-add opportunities through strategic renovations and unit upgrades. Median contract rents reached $1,878 with 31.3% growth over five years, while the broader 3-mile area shows median rents of $1,748 with 35.6% growth, indicating pricing momentum that supports revenue optimization strategies.
Demographics within a 3-mile radius show household income growth of 29.7% over five years to a median of $84,868, with projections indicating continued expansion to $119,392 by 2028. The area's 38.6% bachelor's degree attainment rate ranks in the 96th percentile nationally, supporting income stability. Home values averaging $1.1 million create elevated ownership costs that reinforce rental demand and support tenant retention.
Amenity density enhances tenant appeal with 2.46 cafes per square mile ranking in the 96th percentile nationally, 6.14 childcare facilities per square mile in the 99th percentile, and restaurant density of 12.29 per square mile in the 92nd percentile. School ratings average 4.0 out of 5, ranking in the 84th percentile nationally, which supports family renter attraction and retention.
Safety metrics show mixed signals that require careful monitoring. Property crime rates of 345.8 per 100,000 residents rank 673rd among 1,441 metro neighborhoods, placing performance below the metro median. However, property crime declined 78.4% year-over-year, ranking in the 97th percentile nationally for improvement trends.
Violent crime rates remain relatively low at 24.7 per 100,000 residents, with an 88.3% year-over-year decline ranking in the 99th percentile for improvement. The overall crime rank of 416th among metro neighborhoods places the area in the 74th percentile nationally, indicating above-average safety conditions compared to neighborhoods nationwide.
The Van Nuys area benefits from proximity to major corporate employers across entertainment, telecommunications, and energy sectors, supporting workforce housing demand and commute convenience for tenants.
- Charter Communications — telecommunications (5.8 miles)
- Radio Disney — media and entertainment (5.8 miles)
- Disney — entertainment and media (6.7 miles) — HQ
- Live Nation Entertainment — entertainment services (7.2 miles) — HQ
- Activision Blizzard Studios — gaming and technology (7.7 miles)
This 40-unit property leverages Van Nuys' strong rental fundamentals, with neighborhood occupancy at 96.9% and renter-occupied housing comprising 55.8% of local units. The 1986 construction vintage presents value-add potential through strategic renovations, while rent growth of 31% over five years demonstrates pricing power. Demographics within a 3-mile radius show household income growth supporting affordability, with projections indicating continued expansion through 2028.
Commercial real estate analysis from WDSuite indicates the neighborhood ranks 16th among 1,441 Los Angeles metro neighborhoods, with high amenity density and strong school ratings supporting tenant retention. Elevated home values reinforce rental demand by maintaining elevated ownership costs, while proximity to major employers including Disney and Live Nation Entertainment provides workforce housing appeal.
- High occupancy fundamentals with 96.9% neighborhood rates and strong renter demand depth
- Value-add potential through 1986 vintage requiring strategic capital improvements
- Rent growth momentum with 31% increases over five years supporting revenue optimization
- Strong demographics with income growth and elevated ownership costs reinforcing rental demand
- Risk consideration: Property crime rates below metro median require ongoing security evaluation