| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 29th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6545 Hazeltine Ave, Van Nuys, CA, 91401, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1986 |
| Units | 23 |
| Transaction Date | 2009-05-21 |
| Transaction Price | $988,500 |
| Buyer | R & S BABAY II LLC |
| Seller | 6545 HAZELTINE LLC |
6545 Hazeltine Ave Van Nuys Multifamily Investment
This 23-unit property built in 1986 sits in a neighborhood with 80.9% renter occupancy and strong amenity access. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for rental share, supporting sustained tenant demand.
This Van Nuys neighborhood demonstrates strong multifamily fundamentals, ranking 617th among 1,441 Los Angeles metro neighborhoods with a B rating. The area maintains an 80.9% rental share, placing it in the top quartile nationally and indicating robust rental demand. Neighborhood-level occupancy stands at 94.1%, though this has declined slightly over the past five years.
The property's 1986 construction year aligns with the neighborhood average of 1968, suggesting potential value-add opportunities through strategic renovations and unit improvements. With median contract rents at $1,471 and 33.6% growth over five years, the area shows consistent rental appreciation, though investors should monitor affordability pressures given the rent-to-income dynamics.
Demographic data within a 3-mile radius reveals a stable tenant base of 283,623 residents, with 67.6% of housing units occupied by renters. The area benefits from exceptional amenity density, ranking in the 98th percentile nationally for cafes, grocery stores, and pharmacies per square mile. However, the neighborhood lacks parks and shows below-average school ratings at 2.0 out of 5, which may influence family tenant retention strategies.
Forward-looking projections indicate household growth of 30.8% by 2028, with median household income expected to rise 41.2% to $104,900. This demographic expansion should support larger tenant pools and rental demand, though investors should note the area's limited COVID-resilient employment sectors at 22.8% of jobs.
The neighborhood ranks 444th among 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 73rd percentile nationally for safety. Property crime rates show significant improvement, declining 78.8% year-over-year, while violent crime rates decreased 92.2% over the same period.
Current property offense rates stand at 233.2 incidents per 100,000 residents, positioning the area around the metro median. Violent crime rates are 56.4 per 100,000 residents, which is competitive among Los Angeles neighborhoods. The substantial year-over-year crime reductions suggest improving security conditions that may support tenant retention and property values.
The Van Nuys area benefits from proximity to major entertainment and media employers within the greater Los Angeles market, supporting workforce housing demand from corporate professionals.
- Charter Communications — telecommunications (5.5 miles)
- Radio Disney — media & entertainment (6.2 miles)
- Disney — entertainment conglomerate (7.0 miles) — HQ
- Live Nation Entertainment — live entertainment (8.3 miles) — HQ
- Activision Blizzard Studios — gaming & technology (8.8 miles)
This 23-unit Van Nuys property offers stable multifamily fundamentals in a neighborhood with exceptional rental demand characteristics. The area's 80.9% rental share ranks in the top quartile nationally, while strong amenity density supports tenant retention. Built in 1986, the property presents value-add potential through strategic renovations to capture rent premiums in a market showing 33.6% rent growth over five years.
Demographic projections within a 3-mile radius indicate household growth of 30.8% by 2028, with median incomes rising 41.2% to $104,900, expanding the potential tenant base. The neighborhood's proximity to major entertainment employers including Disney and Live Nation Entertainment provides workforce housing demand. However, investors should consider the area's limited COVID-resilient employment base and monitor affordability pressures given current rent-to-income ratios.
- Top quartile rental share nationally at 80.9% supports sustained tenant demand
- Value-add opportunity through 1986 vintage property improvements
- Projected 30.8% household growth by 2028 expands tenant pool
- Proximity to major entertainment employers supports workforce housing demand
- Risk: Limited COVID-resilient employment sectors may impact tenant stability