| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 40th | Fair |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6948 Vesper Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2021-12-08 |
| Transaction Price | $3,815,000 |
| Buyer | 6948 VESPER LLC |
| Seller | SOURATHA DOUANGMALY |
6948 Vesper Ave Van Nuys Value-Add Multifamily
Neighborhood data points to durable renter demand, with renter-occupied housing prevalent in the area and occupancy near the national middle, according to WDSuite’s CRE market data. For investors, this location offers scale-appropriate operations for a 20-unit asset with pricing power supported by a high-cost ownership market in Van Nuys.
The immediate neighborhood trends favor multifamily demand. Renter-occupied housing comprises a large share of local units (measured for the neighborhood, not this property), which supports a deeper tenant base and leasing resilience. Occupancy in the neighborhood sits around the national middle, with recent softening versus five years ago, suggesting disciplined lease management can protect cash flow in the near term.
Local amenity access is a relative strength: dining density ranks in the top quartile nationally and cafes are competitive, while pharmacies score near the top nationally. Grocery access trends above average. Park and formal childcare options are limited within the neighborhood, so resident value may hinge on private amenities and proximity to broader Van Nuys offerings.
Home values in the neighborhood are elevated relative to most U.S. areas, and the value-to-income relationship ranks among the highest nationally. In practical terms, a high-cost ownership market tends to reinforce rental reliance and can support lease retention and occupancy stability for well-managed assets. At the same time, rent-to-income reads comparatively manageable here, which can temper affordability pressure and aid renewals.
Within a 3-mile radius, households have grown even as total population has edged down, indicating smaller household sizes and a shifting mix that typically expands the renter pool. Median incomes have trended higher, and forward-looking data show further gains alongside continued renter concentration, based on CRE market data from WDSuite. These dynamics generally support steady absorption for professionally operated multifamily.
The property’s late-1970s construction (1977) is slightly newer than the neighborhood’s average vintage. That positioning can be competitive versus older stock, though investors should still plan for systems updates and targeted modernization to capture rent premiums and reduce near-term capex surprises.
Neighborhood safety metrics compare favorably at the national level: overall crime conditions place the area above many U.S. neighborhoods, with both violent and property offense rates trending on the better side of nationwide comparisons. Recent year-over-year readings indicate notable improvement, pointing to a positive trend rather than a one-off shift. These are neighborhood-level indicators and should be paired with on-the-ground diligence for block-specific context.
Within the Los Angeles-Long Beach-Glendale, CA metro’s 1,441 neighborhoods, the area performs competitively on several safety benchmarks; nationally it aligns closer to the upper tiers than the median. For underwriting, this supports a case for tenant retention and fewer disruption risks, while still warranting standard security and lighting enhancements typical for urban core assets.
Proximity to major media and corporate offices underpins workforce housing demand, supporting commute convenience and leasing stability for multifamily. Nearby employers include Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Farmers Insurance.
- Charter Communications — telecommunications (6.1 miles)
- Radio Disney — media (7.0 miles)
- Disney — media & entertainment (7.7 miles) — HQ
- Thermo Fisher Scientific — life sciences (8.3 miles)
- Farmers Insurance Exchange — insurance (8.7 miles) — HQ
6948 Vesper Ave offers a scale-appropriate, 20-unit positioning in Van Nuys with fundamentals that favor durable renter demand. Neighborhood occupancy trends are around the national middle while renter concentration is high, and the ownership market is expensive relative to incomes—factors that typically support retention and stabilize collections. According to CRE market data from WDSuite, local amenity density (restaurants, cafes, pharmacies) outperforms national norms, which can enhance leasing velocity for renovated units.
Built in 1977, the asset is slightly newer than the surrounding average vintage, providing a competitive edge versus older stock while still presenting clear value-add opportunities through systems upgrades and unit finishes. With household counts rising within a 3-mile radius despite modest population drift, the tenant base is widening, suggesting ongoing depth for professionally managed multifamily in this sub-area of Los Angeles County.
- High renter concentration and expensive ownership market support rental demand and renewal leverage
- Amenity-rich location (dining, cafes, pharmacies) aids leasing and tenant satisfaction
- 1977 vintage enables value-add through modernization while remaining competitive versus older stock
- Household growth within 3 miles indicates a larger renter pool and supports occupancy stability
- Risk: Neighborhood occupancy has softened versus five years ago, requiring proactive lease and expense management