| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 41st | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6420 Fulton Ave, Van Nuys, CA, 91401, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 1997-05-16 |
| Transaction Price | $800,000 |
| Buyer | HOME SVGS OF AMERICA FSB |
| Seller | VIGIL FRANK |
6420 Fulton Ave Van Nuys Multifamily Investment
This 20-unit property benefits from strong neighborhood rental demand fundamentals, with 72% of housing units occupied by renters and above-average NOI performance according to WDSuite's CRE market data.
Van Nuys presents a rental-focused market with 72% of housing units occupied by renters, significantly above national averages and supporting consistent tenant demand. The neighborhood ranks in the top quartile nationally for amenity access, with 9.3 grocery stores per square mile and extensive dining options that enhance tenant retention prospects.
Built in 1990, this property aligns with the neighborhood's average construction vintage of 1976, positioning it competitively without immediate major capital expenditure pressures. Neighborhood-level occupancy rates maintain stability at 94.6%, while median contract rents of $1,519 reflect affordability relative to the broader Los Angeles metro.
Demographics within a 3-mile radius show a population of 278,000 with household income growth of 34% over five years, reaching a median of $77,937. Forecasts indicate continued household formation with 34% growth projected through 2028, expanding the potential renter pool. Home values averaging $829,000 with 69% appreciation over five years reinforce rental demand by limiting ownership accessibility for many households.
The neighborhood demonstrates improving safety trends with property crime rates declining 83% year-over-year and violent crime down 93%, ranking above the metro median among 1,441 Los Angeles area neighborhoods. Current crime metrics place the area at the 76th national percentile for overall safety, indicating stronger performance compared to most neighborhoods nationwide.
The Van Nuys area benefits from proximity to major entertainment and corporate employers that support workforce housing demand, including Disney headquarters and Live Nation Entertainment within commuting distance.
- Charter Communications — telecommunications (4.5 miles)
- Radio Disney — entertainment media (5.2 miles)
- Disney — entertainment conglomerate (6.0 miles) — HQ
- Live Nation Entertainment — entertainment services (7.5 miles)
- Activision Blizzard Studios — gaming & technology (8.4 miles)
This Van Nuys property offers exposure to a stable rental market supported by strong demographic fundamentals and improving neighborhood metrics. The 1990 construction year positions the asset for potential value-add opportunities while avoiding immediate major capital requirements. Neighborhood-level NOI averaging $14,682 per unit ranks in the 94th national percentile, indicating strong revenue generation potential in this submarket.
Projected household growth of 34% through 2028 within the 3-mile radius supports expanding tenant demand, while elevated home values sustain rental housing reliance. According to multifamily property research from WDSuite, the combination of high renter occupancy rates and declining crime trends creates favorable conditions for occupancy stability and lease retention.
- Strong rental market fundamentals with 72% renter-occupied housing units
- Neighborhood NOI performance in 94th national percentile
- Projected 34% household growth through 2028 expanding tenant base
- Value-add potential with 1990 vintage allowing renovation upside
- Risk consideration: Below-average school ratings may limit family tenant appeal