| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 35th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6930 Lennox Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1976 |
| Units | 28 |
| Transaction Date | 1999-09-24 |
| Transaction Price | $1,630,000 |
| Buyer | VALERIO LENNOX TOWNHOUSES LLC |
| Seller | LENNOX COURT LTD |
6930 Lennox Ave Van Nuys Multifamily Investment Opportunity
Neighborhood occupancy is above the metro median with a deep renter base, supporting leasing stability, according to WDSuite s CRE market data. Elevated ownership costs in Los Angeles reinforce renter demand in Van Nuys.
The property sits in a B+ rated Urban Core neighborhood that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 524 out of 1,441). At the neighborhood level, occupancy trends are above the metro median, a constructive backdrop for collections and retention in typical cycles, based on CRE market data from WDSuite.
Renter-occupied housing represents a high share of units in the neighborhood (65.2% renter concentration), indicating a broad tenant pool for multifamily. Median contract rents are above national norms while the local rent-to-income ratio suggests manageable affordability pressures for professionally managed assets.
Livability drivers are strong for daily needs: groceries, pharmacies, cafes, and restaurants score in high national percentiles, supporting convenience that helps with leasing and renewals. Park access is limited within the neighborhood, which may require operators to emphasize on-site amenities. Average school ratings trail national medians, a consideration for family-oriented positioning.
Within a 3-mile radius, households have increased even as population edged down modestly and average household size declined, pointing to more, smaller households and a larger renter pool over time. Household incomes have risen meaningfully over the last five years, and median home values are elevated versus national benchmarks; in practice, this high-cost ownership market sustains reliance on rental housing and can support pricing power for well-managed communities.
Vintage context: built in 1976 versus a neighborhood average around the late 1970s, the asset s slightly older profile suggests routine capital planning and potential value-add upgrades to stay competitive against newer stock.
Safety indicators compare favorably to national benchmarks overall: the neighborhood s composite crime profile sits in the upper-tier nationally (around the 78th percentile for safety versus neighborhoods nationwide). Violent and property offense estimates trend near or modestly above national midpoints, with recent year-over-year declines indicating improving conditions, according to WDSuite s data.
Within the Los Angeles metro context, results are above average but mixed by category. Investors should underwrite with property-specific measures in mind (lighting, access control, and tenant screening) and monitor trend momentum at the block-group level over time rather than relying solely on metro-wide comparisons.
Proximity to major employers in media, telecom, and life sciences supports a diverse renter base and commute convenience for workforce tenants, including Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Live Nation Entertainment.
- Charter Communications telecom (5.8 miles)
- Radio Disney media (6.7 miles)
- Disney media & entertainment (7.4 miles) HQ
- Thermo Fisher Scientific life sciences (8.6 miles)
- Live Nation Entertainment entertainment (8.9 miles) HQ
This 28-unit 1976 asset in Van Nuys benefits from neighborhood occupancy above the metro median and a high share of renter-occupied housing, which together point to a steady tenant base and resilient leasing. Elevated home values relative to incomes in Los Angeles tilt households toward renting, while daily-needs amenities in high national percentiles support retention and operational performance. According to CRE market data from WDSuite, rents in the area have trended above national norms, consistent with a high-cost ownership market.
Demographic data within a 3-mile radius show increasing household counts and smaller average household sizes despite modest population contraction, which expands the renter pool over time. Given the 1976 vintage, a targeted value-add program and ongoing systems modernization can enhance competitiveness versus newer product while maintaining focus on affordability management to protect renewals.
- Above-median neighborhood occupancy and high renter concentration support demand depth and leasing stability.
- High-cost ownership market sustains multifamily demand and pricing power for well-managed assets.
- Household growth and smaller household sizes within 3 miles expand the tenant base over time.
- 1976 vintage offers value-add and capital planning opportunities to improve competitive positioning.
- Risks: limited park access and below-average school ratings may require amenity and marketing adjustments.