Sherman Oaks can be understood as the Beverly Hills of the Valley - the preeminent neighborhood with the best homes, the best schools and the best amenities. It is also two distinct sub-neighborhoods that share a common border - Ventura Blvd. The stretch of Ventura between Sepulveda and Coldwater is the heart of that Blvd's commercial corridor and the epicenter of life for Sherman Oaks (and for much of the Valley for that matter). To the north of this corridor lies the Sherman Oaks of late 40's and 50's tract housing. Which, over tim,e has been articulated and evolved into many distinct sub-neighborhoods.
To the south of the Blvd lies the Sherman Oaks that feels like the northernmost extension of the City - replete with winding streets and multi-million dollar homes, albeit a little more modest and comparatively affordable than similar ones on the south facing slope of the hill. For buyers working in the City but looking for relative bang for the buck and some of the best school districts in the city Sherman Oaks is the ideal neighborhood - which is probably why it is rapidly losing that affordability.