| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 61st | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6626 Hayvenhurst Ave, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1980 |
| Units | 71 |
| Transaction Date | 1998-05-29 |
| Transaction Price | $2,450,000 |
| Buyer | H K REALTY INC |
| Seller | MANAGERS ROXBURY LTD |
6626 Hayvenhurst Ave, Van Nuys Multifamily Opportunity
Stabilized renter demand in an Urban Core pocket of Van Nuys is supported by neighborhood occupancy in the upper third nationally and a sizable renter base, according to WDSuite s CRE market data.
Located in Los Angeles County s Van Nuys, the property benefits from Urban Core fundamentals: daily-needs access is strong with grocery and pharmacy density ranking in the 91st and 97th percentiles nationally, while cafes and parks are comparatively limited. For investors, this mix points to convenience for residents and steady leasing draw despite fewer lifestyle amenities within the immediate neighborhood.
Neighborhood occupancy is 94.3%, placing the area around the 67th percentile nationwide, which supports pricing power and reduces downtime risk versus weaker submarkets. Median asking rents in the neighborhood are elevated relative to much of the U.S., consistent with Los Angeles dynamics, and median household incomes rank in the 83rd percentile nationally—useful context for underwriting achievable rent bands and renewal strategies.
Renter concentration is meaningful: 50.6% of neighborhood housing units are renter-occupied, and within a 3-mile radius renters account for about 58.6% of occupied units. This depth of tenant base supports absorption and occupancy stability for mid-size assets.
The asset s 1980 vintage is slightly older than the neighborhood average construction year of 1986. For investors, that suggests potential value-add and capital planning opportunities (exteriors, unit interiors, systems) to maintain competitive positioning against newer stock without overbuilding the scope.
Within a 3-mile radius, population has edged down modestly over the last five years while the number of households has increased, indicating smaller average household sizes and a gradual shift toward more units being occupied. Forward-looking data from WDSuite points to further household growth and a lower average household size by 2028, which can expand the renter pool and support occupancy.
Home values in the neighborhood sit near the 95th percentile nationally, signaling a high-cost ownership market. This typically sustains reliance on multifamily rentals and can aid lease retention and steady demand, particularly for well-managed, right-sized units.
Safety signals are mixed and should be evaluated in context. Compared with Los Angeles metro neighborhoods, the area trends toward higher reported crime (ranked 63 out of 1,441), yet national comparisons place the neighborhood in high percentiles for safety—around the upper 80s nationally for overall and violent incidents. Recent WDSuite indicators show notable year-over-year declines in both violent and property offense rates, an encouraging directional trend to monitor for durability.
For investors, the takeaway is to underwrite with standard urban Los Angeles assumptions (lighting, access control, and resident experience measures) while recognizing that recent trendlines have improved and national standing is comparatively favorable.
The employment base nearby mixes life sciences, insurance, media, and energy, supporting commuter convenience and diversified renter demand. Notable employers include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Radio Disney, and Occidental Petroleum.
- Thermo Fisher Scientific corporate offices (5.9 miles)
- Farmers Insurance Exchange insurance (6.3 miles) HQ
- Charter Communications telecommunications (8.5 miles)
- Radio Disney media (9.0 miles)
- Occidental Petroleum energy (9.5 miles) HQ
This 71-unit, 1980-vintage asset offers scale in Van Nuys with unit sizes averaging roughly 856 square feet—well-suited for retention and renewal strategies in a high-cost ownership market. Based on CRE market data from WDSuite, neighborhood occupancy sits in the upper third nationally and renter concentration is substantial locally, while elevated for-sale housing values reinforce sustained rental demand. The slightly older vintage creates a clear path for targeted value-add to enhance competitiveness against mid- to late-1980s stock.
Within a 3-mile radius, households have grown despite modest population decline, and projections indicate further household increases and smaller household sizes by 2028—conditions that can expand the renter pool and support occupancy stability. Underwriting should consider affordability pressure (neighborhood rent-to-income near one-third), and typical urban Los Angeles operating practices, but fundamentals point to durable demand and potential to capture steady NOI through focused operations and selective upgrades.
- Neighborhood occupancy around the 67th percentile nationally supports leasing stability and pricing power
- High-cost ownership market sustains renter reliance and aids retention
- 1980 vintage provides value-add and capital planning upside versus newer 1986-average stock
- 3-mile household growth and shrinking household size expand the renter pool over the forecast period
- Risks: affordability pressure (~one-third rent-to-income) and urban Los Angeles operating considerations (e.g., security, maintenance)