| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 35th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7320 Hazeltine Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1984 |
| Units | 36 |
| Transaction Date | 1994-04-06 |
| Transaction Price | $227,500 |
| Buyer | MA GEORGE WEE KENG |
| Seller | CHUN SHIU FAT |
7320 Hazeltine Ave Van Nuys Multifamily Investment
This 36-unit property built in 1984 benefits from neighborhood-level occupancy of 96.2% and strong renter demand in an area where 65% of housing units are rental-occupied, according to CRE market data from WDSuite.
The Van Nuys neighborhood demonstrates solid fundamentals for multifamily investors, ranking in the top quartile nationally for amenity access with strong grocery store density at 5.16 per square mile. The area maintains a 96.2% occupancy rate with 65.2% of housing units renter-occupied, indicating sustained rental demand. Contract rents average $1,596 with 34.8% growth over five years, while the neighborhood ranks in the 81st percentile nationally for rent levels.
Demographics within a 3-mile radius show a stable tenant base of approximately 302,500 residents, with 27.2% in the prime renting age group of 18-34 years. Household income averages $69,902 with 37% growth over five years, supporting rent collection stability. The area's rent-to-income ratio of 0.27 suggests manageable affordability for tenants, though this ranks in the 10th percentile nationally, indicating some retention considerations for lease management.
The property's 1984 construction year aligns with the neighborhood average of 1979, presenting potential value-add opportunities through strategic renovations and unit improvements. Home values at a median of $745,738 with 57% appreciation over five years reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. Forward-looking projections indicate household income growth to $98,040 by 2028, supporting future rent growth potential.
Crime metrics show the neighborhood ranking 295th among 1,441 metro neighborhoods, placing it in the 78th percentile nationally for safety. Property offense rates have declined significantly by 83.2% over the past year, ranking in the 98th percentile for improvement trends. Violent crime rates also decreased by 91.5% annually, demonstrating positive safety momentum that supports tenant retention and leasing appeal.
While absolute crime levels remain moderate compared to the broader Los Angeles metro, the substantial year-over-year improvements in both property and violent crime metrics indicate strengthening neighborhood conditions that benefit multifamily operations and resident stability.
The Van Nuys area benefits from proximity to major corporate offices and headquarters that support workforce housing demand, including entertainment, telecommunications, and insurance companies within commuting distance.
- Charter Communications — telecommunications (5.5 miles)
- Radio Disney — media & entertainment (6.6 miles)
- Disney — entertainment & media (7.3 miles) — HQ
- Live Nation Entertainment — entertainment services (8.9 miles)
- Thermo Fisher Scientific — life sciences (9.0 miles)
This 36-unit Van Nuys property offers stable cash flow fundamentals with neighborhood-level occupancy of 96.2% and a dominant 65% rental tenure share that supports consistent demand. The 1984 construction year presents value-add potential through strategic renovations, while elevated home values averaging $745,738 reinforce rental demand by keeping ownership costs beyond reach for many households.
Demographic trends within a 3-mile radius support long-term stability, with household income growing 37% over five years to $69,902 and projections indicating continued growth to $98,040 by 2028. According to multifamily property research from WDSuite, the combination of strong occupancy metrics, improving safety trends, and proximity to major employers creates favorable conditions for both current operations and future appreciation.
- High neighborhood occupancy at 96.2% indicates stable rental demand
- 1984 vintage offers value-add renovation opportunities
- Strong household income growth of 37% over five years
- Crime rates declining significantly with 83% reduction in property offenses
- Low rent-to-income ratio requires monitoring for potential retention challenges