| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 41st | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6746 N Greenbush Ave, Van Nuys, CA, 91401, US |
| Region / Metro | Van Nuys |
| Year of Construction | 2005 |
| Units | 20 |
| Transaction Date | 2023-10-03 |
| Transaction Price | $6,750,000 |
| Buyer | PEL TRUST |
| Seller | GREENBUSH VILLA LLC |
6746 N Greenbush Ave Van Nuys Multifamily Investment
High renter concentration and dense amenities in the surrounding neighborhood support steady leasing and occupancy, according to WDSuite’s CRE market data.
Urban Van Nuys location with renter depth. The property sits in an Urban Core neighborhood that is competitive among Los Angeles-Long Beach-Glendale metro neighborhoods (ranked 273 of 1,441). A high share of renter-occupied housing units supports a deep tenant base, while neighborhood occupancy trends indicate generally stable performance relative to broader metro patterns.
Amenity access is a clear strength: neighborhood counts for groceries, cafes, restaurants, parks, and pharmacies place the area in the top quartile nationally, helping retention and day-to-day convenience for residents. Average school ratings trend below national norms, which may modestly weigh on family-driven demand and should be considered in leasing strategy.
Relative pricing dynamics favor rentals: elevated home values compared with local incomes (near the top nationally) reinforce reliance on multifamily housing, sustaining renter demand and potential lease retention. At the same time, rent-to-income levels signal affordability pressure for some households; operators should manage turnover risk with targeted renewals and product positioning.
Within a 3-mile radius, demographic data show households have increased over the past five years, even as total population has edged down. This points to smaller household sizes and a broader household count, which can expand the renter pool and support occupancy. Looking ahead, projections indicate further gains in households and incomes alongside modest rent growth, which, combined with top-quartile neighborhood housing and amenity scores, underpins durable demand, based on commercial real estate analysis from WDSuite.
Asset positioning. Built in 2005, the property is newer than the neighborhood’s average vintage (1970s), offering relative competitiveness versus older stock; investors should still plan for mid-life system updates and selective renovations to drive rent positioning. The 20-unit scale with larger average unit sizes can capture demand from renters seeking more space in a supply-constrained pocket of the San Fernando Valley.
Neighborhood safety indicators compare favorably at the national level while remaining mixed locally. The area sits around the upper quartile for safety nationwide, yet within the Los Angeles-Long Beach-Glendale metro its crime ranking (356 among 1,441 neighborhoods; lower ranks indicate higher incident rates) places it closer to the higher-incident side of the metro distribution. This combination suggests operators should maintain standard security practices while recognizing that national benchmarks are comparatively stronger.
Recent trend data are constructive: both violent and property offense estimates have declined sharply year over year, pointing to improving conditions. For investors, the directional improvement supports leasing stability and operational planning, though submarket-level monitoring remains prudent.
Proximity to major entertainment, media, and engineering employers supports a consistent renter pipeline and commute convenience for residents, notably Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and AECOM/Occidental.
- Charter Communications — telecommunications (4.7 miles)
- Radio Disney — media (5.6 miles)
- Disney — media & entertainment (6.3 miles) — HQ
- Live Nation Entertainment — entertainment offices (7.9 miles)
- AECOM — engineering & design (9.3 miles) — HQ
- Occidental Petroleum — energy (9.3 miles) — HQ
6746 N Greenbush Ave combines a newer 2005 vintage with strong neighborhood fundamentals. The asset competes well against older local stock and benefits from a high concentration of renter-occupied units and dense daily-needs amenities that support occupancy resilience. Larger average unit sizes (about 1,224 sq. ft.) add utility for households seeking more space within the San Fernando Valley.
Based on CRE market data from WDSuite, the neighborhood’s housing and amenity scores rank in the top quartile nationally, while elevated ownership costs relative to incomes favor sustained multifamily demand. Operators should account for rent-to-income affordability pressures and below-average school ratings in leasing and renewal strategies, but demographic trends within a 3-mile radius—more households amid smaller household sizes—signal a broadening tenant base over the next cycle.
- Newer 2005 construction offers competitive positioning versus older neighborhood stock, with clear value-add/refresh pathways
- High renter-occupied share and top-quartile amenity access support demand depth and leasing stability
- Larger average unit sizes appeal to space-seeking renters in a constrained San Fernando Valley location
- Risks: manage affordability pressure and below-average school ratings to sustain renewals and pricing power