| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 28th | Poor |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7244 Kester Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1978 |
| Units | 27 |
| Transaction Date | 2001-04-12 |
| Transaction Price | $161,000 |
| Buyer | FRIEDMAN JACOB |
| Seller | KESTER TOWERS GENERAL PARTNERSHIP |
7244 Kester Ave, Van Nuys Multifamily Investment
Steady renter demand and mid-90% neighborhood occupancy suggest durable income potential for a 1978-vintage, 27-unit asset in Los Angeles County, according to WDSuite s CRE market data.
Situated in Van Nuys within the Los Angeles-Long Beach-Glendale metro, the property sits in an Urban Core neighborhood rated B- (ranked 830 among 1,441 metro neighborhoods). The area s occupancy level is above the national median, supporting income consistency for stabilized multifamily. Renter concentration is high at the neighborhood level (about two-thirds of housing units are renter-occupied), indicating depth in the tenant base and a broad pool for leasing.
Daily-needs access is a relative strength: grocery and pharmacy density ranks competitively versus peer neighborhoods (both in the mid-to-high 90s nationally), while restaurants are also plentiful. By contrast, cafes and parks are limited locally, so residents likely rely on nearby districts for lifestyle amenities. For investors, this mix points to solid essentials access that underpins retention, with some lifestyle demand spilling to adjacent nodes.
At the neighborhood level, median contract rents and home values both sit in the upper national percentiles. Elevated home values within Los Angeles County create a high-cost ownership market, which typically sustains reliance on rental housing and can support pricing power for well-managed assets. Rent-to-income metrics indicate some affordability pressure, so prudent lease management and amenity-value positioning remain important for renewals.
Construction patterns skew slightly older than the metro average; with a 1978 vintage in a submarket where the average build year trends mid-1970s, investors should plan for targeted capital projects and potential value-add upgrades to enhance competitiveness versus newer stock while preserving operating efficiency.
Within a 3-mile radius, recent population counts have edged down while household counts have increased and are projected to rise further, implying smaller average household sizes and a gradual renter pool expansion. This dynamic generally supports occupancy stability and leasing velocity for appropriately sized units, especially workforce-oriented floor plans.
Neighborhood safety compares favorably in a regional context and trends show improvement. The area ranks 178 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods for overall crime, placing it above the metro median, and it sits in higher national safety percentiles for both property and violent offenses. Recent year-over-year estimates indicate notable reductions in incident rates, suggesting positive momentum rather than a short-term anomaly.
As always, investors should evaluate property-level measures (lighting, access control, and visibility) and monitor submarket trends over time, but current indicators point to conditions that are competitive among Los Angeles neighborhoods and supportive of tenant retention.
Proximity to major entertainment, media, and technology employers supports a sizable commuter tenant base and helps underpin leasing and retention. Notable nearby employers include Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — corporate offices (6.5 miles)
- Radio Disney — corporate offices (7.5 miles)
- Thermo Fisher Scientific — corporate offices (8.0 miles)
- Disney — corporate offices (8.2 miles) — HQ
- Farmers Insurance Exchange — corporate offices (8.4 miles) — HQ
This 27-unit, 1978-vintage asset in Van Nuys benefits from a high renter concentration at the neighborhood level and occupancy that trends above the national median, supporting income durability. Elevated for-sale housing costs locally reinforce long-term reliance on multifamily, while strong access to daily-needs retail and proximity to major employers broaden the tenant base. Based on CRE market data from WDSuite, neighborhood rent levels sit in upper national percentiles, suggesting room for disciplined revenue management alongside attentive renewal strategies.
Given the late-1970s vintage relative to a mid-1970s neighborhood average, targeted renovations and systems upgrades can drive competitiveness versus newer stock. Within a 3-mile radius, household counts are increasing even as population edges down, pointing to smaller household sizes and steady renter pool expansion—conditions that typically support occupancy stability for efficiently sized units.
- Above-median neighborhood occupancy and high renter concentration support stable leasing
- High-cost ownership market sustains multifamily demand and pricing power potential
- Daily-needs retail access and major employers within ~6–9 miles reinforce tenant retention
- 1978 vintage offers value-add pathways via unit and building system upgrades
- Risk: rent-to-income pressure requires disciplined renewals and expense control