| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 34th | Fair |
| Amenities | 71st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7003 Haskell Ave, Van Nuys, CA, 91406, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1984 |
| Units | 22 |
| Transaction Date | 1995-03-24 |
| Transaction Price | $713,000 |
| Buyer | BERKELEY FEDERAL BANK & TRUST FSB |
| Seller | LYCON 501 |
7003 Haskell Ave Van Nuys Multifamily Investment
Positioned in an Inner Suburb pocket of Van Nuys, the neighborhood shows above-metro-median occupancy stability and strong renter demand, according to WDSuite’s CRE market data. For investors, that suggests steady leasing fundamentals supported by a deep renter pool rather than property-specific performance.
The surrounding neighborhood rates a B within the Los Angeles-Long Beach-Glendale metro and is competitive among metro neighborhoods (591 of 1,441), indicating solid livability for workforce renters and service professionals. Amenity access is a relative strength versus many U.S. areas: grocery, restaurants, cafes, pharmacies, and childcare density sit in the top quartile nationally, while park access is limited—an operational consideration for marketing and resident engagement.
Renter concentration is high at the neighborhood level, with a renter-occupied share that ranks near the top of metro peers (top 1–2% nationally). For multifamily owners, that depth of renter households supports day-to-day leasing velocity and a consistent tenant pipeline, though it also heightens the importance of competitive finishes and responsive management to stand out.
Construction year context: the property was built in 1984, newer than the neighborhood’s late-1970s average. This vintage positioning can temper near-term capital needs compared with older 1960s–1970s stock, while still offering value-add potential via common-area refreshes, in-unit upgrades, or energy systems modernization.
Within a 3-mile radius, household counts have trended upward in recent years and are projected to continue increasing, even as population growth is modest to negative—pointing to smaller household sizes and a gradually expanding tenant base. This pattern typically supports occupancy stability and broadens the pool of prospective renters. Median contract rents in the neighborhood have risen over the past five years, and home values are elevated versus national norms; in practice, a high-cost ownership market tends to reinforce reliance on multifamily housing and can sustain renter demand.
Operationally, neighborhood occupancy performance sits above the metro median (top quintile nationally), and average NOI per unit ranks in the upper tier nationally, according to CRE market data from WDSuite. The main watch items are limited park access and lower average school ratings relative to national peers; owners can mitigate these with on-site amenities and partnerships for after-school or enrichment programming.
Neighborhood safety trends compare favorably both locally and nationally. Crime levels are stronger than many Los Angeles metro neighborhoods (ranked 388 out of 1,441, which places it above the metro average) and fall around the 75th percentile for safety nationwide. Recent year-over-year data also show a notable decline in both property and violent offense rates, which supports resident retention and leasing narratives without overpromising block-level outcomes.
As always, investors should assess property-level measures—lighting, access control, and maintenance practices—to complement the neighborhood’s improving trend.
The location serves a broad employment base across insurance, media, communications, and life sciences—supporting renter demand through short commutes and diversified industries. Notable nearby employers include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Radio Disney, and The Walt Disney Company.
- Thermo Fisher Scientific — life sciences (6.9 miles)
- Farmers Insurance Exchange — insurance (7.3 miles) — HQ
- Charter Communications — telecommunications (7.5 miles)
- Radio Disney — media (8.3 miles)
- Disney — entertainment (9.1 miles) — HQ
This 22-unit, 1984-vintage asset sits in a renter-driven Van Nuys submarket where neighborhood occupancy trends run above the metro median and amenity density is a relative strength. Elevated home values at the neighborhood level sustain reliance on rental housing, while 3-mile household growth and a high share of renter-occupied units support a deeper tenant base and stable leasing. According to CRE market data from WDSuite, neighborhood NOI per unit and occupancy both compare well nationally, indicating resilient fundamentals for operators focused on steady cash flow.
The vintage leaves room for targeted value-add—unit interiors, building systems, and common areas—without the heavier structural risk often seen in older 1960s–1970s properties. Key items to monitor include resident affordability pressure (given neighborhood rent-to-income ratios), limited park access, and below-average school ratings; proactive asset management and amenity programming can help mitigate retention risks.
- Above-metro-median neighborhood occupancy and strong renter depth support leasing stability.
- 1984 construction offers value-add upside with comparatively moderate capital planning.
- Elevated neighborhood home values reinforce multifamily demand and pricing power.
- 3-mile household growth expands the tenant base even as household sizes trend smaller.
- Risks: affordability pressure, limited park access, and weaker school ratings may affect retention.