| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 41st | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7420 Woodman Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | 2003-12-31 |
| Transaction Price | $1,975,000 |
| Buyer | 92 LA APTS LLC |
| Seller | VPP PROPERTIES LP |
7420 Woodman Ave Van Nuys Multifamily Investment
Renter demand is reinforced by a high renter-occupied share and mid-90s neighborhood occupancy, according to WDSuite’s CRE market data. This location offers durable leasing fundamentals in a high-cost ownership market within Los Angeles.
The property sits in an Urban Core pocket of Van Nuys with an A- neighborhood rating (ranked 273 of 1,441 Los Angeles neighborhoods), signaling competitive fundamentals among metro peers. Amenity access is a clear strength: grocery, cafe, and restaurant density place the area in the top decile nationally, supporting day-to-day convenience that helps with retention and leasing velocity.
Neighborhood occupancy trends are solid, with the area positioned in the upper third of neighborhoods nationwide, and median asking rents benchmark above the national median. Within the metro, amenity rank in the top quartile (92 of 1,441) underscores strong local services that typically correlate with steady renter interest and fewer concessions through cycles.
Tenure data points to a deep renter base: a high share of housing units are renter-occupied at the neighborhood level, which generally supports demand depth for multifamily product and reduces exposure to ownership competition. Elevated home values relative to incomes indicate a high-cost ownership market, which tends to sustain renter reliance on multifamily housing and can support pricing power for well-managed assets.
Within a 3-mile radius, demographics show modest population contraction alongside growth in households and a gradual shift toward smaller household sizes. This combination often expands the tenant base for professionally managed apartments and can favor smaller floor plans—aligned with the property’s average unit size near 513 sq. ft. Forward-looking projections within the same 3-mile radius indicate further household growth and rising incomes, which support occupancy stability and rent durability over the medium term.
Vintage context matters: the asset was built in 1974, slightly older than the neighborhood’s average vintage. Investors should plan for targeted capital expenditures and modernization to stay competitive against newer product, with potential to capture value-add upside through unit and systems updates.
Safety indicators for the neighborhood compare favorably versus many U.S. areas, with overall crime levels around the upper quartile nationally. Recent estimates also point to year-over-year improvements in both property and violent offenses. As always, safety can vary by block and over time, so investors should evaluate trends and on-the-ground conditions in the context of Los Angeles-Long Beach-Glendale metro benchmarks.
Proximity to major entertainment and corporate offices supports a broad renter pool and commute convenience. Nearby employers include Charter Communications, Radio Disney, The Walt Disney Company, Live Nation Entertainment, and Thermo Fisher Scientific.
- Charter Communications — telecommunications (4.97 miles)
- Radio Disney — media offices (6.27 miles)
- Disney — media & entertainment (6.94 miles) — HQ
- Live Nation Entertainment — live entertainment (9.24 miles) — HQ
- Thermo Fisher Scientific — life sciences (9.53 miles)
7420 Woodman Ave offers exposure to a renter-heavy pocket of Los Angeles with strong amenity access and steady neighborhood occupancy. Elevated ownership costs in the area support sustained apartment demand and retention, while demographics within a 3-mile radius point to an increasing number of households and smaller household sizes—tailwinds for stabilized leasing and smaller-unit absorption. Based on CRE market data from WDSuite, neighborhood rents benchmark above the national median and occupancy sits in the upper third nationally, reinforcing a case for durable cash flow with disciplined operations.
Constructed in 1974, the asset may benefit from targeted interior and systems upgrades to remain competitive versus newer stock. With a high renter-occupied share at the neighborhood level and access to diverse employment centers, the property’s long-term thesis centers on demand depth and operational consistency, balanced against affordability pressures and the need for ongoing capital planning.
- Renter-heavy neighborhood and strong amenity access support leasing durability.
- Occupancy in the upper third nationally and rents above national medians bolster income stability.
- 1974 vintage presents value-add potential through targeted renovations and modernization.
- High-cost ownership market underpins rental demand and potential pricing power.
- Risks: affordability pressure (rent-to-income) and below-median school ratings require careful lease management and positioning.