| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 41st | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6954 Woodman Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2012-06-12 |
| Transaction Price | $2,525,000 |
| Buyer | COELER WILLI O |
| Seller | KARRAA REAL PROPERTY 4 LLC |
6954 Woodman Ave Van Nuys Multifamily Investment
Neighborhood occupancy trends in the mid‑90s point to steady leasing and income durability for a 24‑unit asset in Van Nuys, according to WDSuite’s CRE market data. High renter concentration and an urban amenity base support demand resilience through cycles.
Located in Los Angeles’ San Fernando Valley, the neighborhood surrounding 6954 Woodman Ave is rated A- and ranks 273 out of 1,441 metro neighborhoods — top quartile among 1,441 — indicating competitive fundamentals for multifamily investors. Amenity access is a clear strength, with grocery, cafes, restaurants, parks, and pharmacies all scoring well above national medians, supporting day-to-day livability and leasing appeal.
Renter demand is deep. The neighborhood’s share of renter-occupied housing units is high (ranked near the top nationally), which typically broadens the tenant base and supports occupancy stability. Neighborhood occupancy sits above national median levels, helping underpin consistent collections and lower downtime between turns. Median contract rents are also positioned above national norms, reflecting the area’s urban core positioning and service/office employment base.
Within a 3‑mile radius, demographics show a slight population contraction in recent years while total households edged higher, and projections indicate further household growth alongside smaller average household sizes by 2028. For investors, that combination generally points to a larger renter pool over time and steadier absorption, particularly for efficiently sized units.
Ownership costs are elevated compared with national benchmarks, which tends to sustain reliance on rental housing and can support pricing power and retention. At the same time, rent-to-income ratios trend on the higher side locally, suggesting prudent lease management and renewal strategies will matter for maintaining occupancy without excessive turnover. Average school ratings sit below national medians, which may temper family-driven demand but is less consequential for workforce-oriented renter segments drawn by commute access and amenities.
Safety indicators for the neighborhood are favorable in a comparative context. Based on WDSuite neighborhood metrics, the area is competitive among Los Angeles neighborhoods — top quartile among 1,441 — and sits in the upper quartile nationally for safety. Recent estimates also point to notable year‑over‑year declines in both property and violent offense rates, an encouraging trend for tenant retention and leasing.
As with any urban core location, conditions can vary by block and time of day, so investors should confirm on‑the‑ground patterns and property-level security needs as part of diligence.
Nearby corporate anchors provide a diversified employment base that supports renter demand and retention, including Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Occidental Petroleum.
- Charter Communications — telecommunications (4.9 miles)
- Radio Disney — media (5.9 miles)
- Disney — media & entertainment (6.7 miles) — HQ
- Live Nation Entertainment — live entertainment (8.7 miles) — HQ
- Occidental Petroleum — energy (9.5 miles) — HQ
This 24‑unit, 1972 vintage asset presents a straightforward value‑add and income‑preservation case in a top‑quartile Los Angeles neighborhood. According to CRE market data from WDSuite, neighborhood occupancy trends in the mid‑90s and NOI per unit performance ranks in the national top decile, reinforcing the area’s operating resilience. Elevated home values relative to incomes help sustain renter reliance on multifamily product, while an extensive amenity set supports leasing velocity.
The 1972 construction is slightly older than the neighborhood’s average vintage, suggesting focused capital planning and modernization can enhance competitive positioning and drive rent premiums. Within a 3‑mile radius, households are projected to grow as average household size trends smaller by 2028, expanding the renter pool for efficiently sized units. Counterbalancing strengths, higher rent-to-income ratios point to affordability pressure, so disciplined renewal and concession strategies remain important for retention.
- Top‑quartile neighborhood in Los Angeles with strong amenity access and stable occupancy
- High renter concentration supports depth of demand and consistent leasing
- 1972 vintage offers value‑add potential through systems upgrades and unit renovations
- Risk: higher rent‑to‑income ratios warrant careful renewal and pricing strategies to protect retention