| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 35th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7457 Woodman Ave, Van Nuys, CA, 91405, US |
| Region / Metro | Van Nuys |
| Year of Construction | 1979 |
| Units | 30 |
| Transaction Date | 1995-10-13 |
| Transaction Price | $618,000 |
| Buyer | HOME SVGS OF AMERICA FSB |
| Seller | LIN CHIN LON |
7457 Woodman Ave Van Nuys Multifamily Investment
This 30-unit property sits in an urban core neighborhood with strong renter occupancy at 96.2% and high rental density, indicating solid tenant demand fundamentals according to CRE market data from WDSuite.
Van Nuys offers an established multifamily market with dense rental housing stock, where 65.2% of housing units are renter-occupied—placing this neighborhood in the 96th percentile nationally for rental tenure concentration. This high rental density suggests sustained demand for apartment housing in the area.
Built in 1979, this property aligns with the neighborhood's average construction year, indicating potential value-add opportunities through strategic renovations and unit upgrades. The urban core location provides access to essential amenities, with grocery stores at 5.16 per square mile (96th percentile nationally) and childcare facilities at 3.87 per square mile (98th percentile nationally), supporting tenant retention through convenience.
Demographic data within a 3-mile radius shows 303,500 residents with median household income of $68,573. Forecasts project household growth of 29.5% through 2028, expanding the potential renter pool. Current median contract rent of $1,558 has increased 35.1% over five years, while neighborhood-level occupancy remains stable at 96.2%, suggesting balanced supply-demand dynamics.
Home values averaging $745,738 create elevated ownership costs that reinforce rental demand and support tenant retention in multifamily properties. The rent-to-income ratio of 27% indicates moderate affordability pressure that requires careful lease management but doesn't signal immediate retention risk.
The neighborhood ranks in the 78th percentile nationally for overall crime metrics, indicating above-average safety conditions compared to urban neighborhoods nationwide. Property crime rates show a significant declining trend with an 83.2% reduction over the past year, ranking in the 98th percentile for improvement among the 1,441 metro neighborhoods.
Violent crime rates also demonstrate positive trends, declining 91.5% year-over-year and ranking in the 99th percentile for improvement. These substantial reductions in both property and violent crime suggest improving security conditions that can support tenant retention and property values.
The Van Nuys location provides access to major corporate employers within commuting distance, including entertainment and media companies that support workforce housing demand in the San Fernando Valley.
- Charter Communications — telecommunications (5.0 miles)
- Radio Disney — media and entertainment (6.3 miles)
- Disney — entertainment and media (7.0 miles) — HQ
- Live Nation Entertainment — entertainment services (8.8 miles)
- Live Nation Entertainment — entertainment services (9.3 miles) — HQ
This 1979-vintage property offers value-add potential through unit renovations while benefiting from strong local rental fundamentals. The neighborhood maintains 96.2% occupancy rates and 65.2% rental tenure, indicating sustained apartment demand. Demographic projections show household growth of 29.5% through 2028, expanding the potential tenant base within the 3-mile radius.
Commercial real estate analysis from WDSuite confirms the area's investment-grade characteristics, with crime rates improving significantly and home values at $745,738 reinforcing rental demand over ownership alternatives. The urban core location provides tenant amenities while offering renovation upside typical of properties from this construction era.
- High neighborhood occupancy at 96.2% indicates stable rental demand
- 1979 construction year offers value-add renovation opportunities
- Projected 29.5% household growth expands potential tenant base through 2028
- Risk: Rent-to-income ratio of 27% requires careful lease management and renewal strategies