The apartment market in the Ventura Corridor community is showing steady demand. Occupancy levels have improved for last year with average vacancy 3.2%, down from 5.37% last year. Average sale price per unit is currently $351,020, up from last month. Apartment rents are forecast to grow steadily for the next few years.
Average household income in Sherman Oaks is $134,000. Over 60% of the local population are renters. The majority of the rental housing is held by local private owners. 40% of the population has a college degree.
Los Angeles continues to be a great market for investors. For real estate related inquiries, please contact us.