| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20904 W Gresham St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1991 |
| Units | 42 |
| Transaction Date | 2018-03-29 |
| Transaction Price | $12,000,000 |
| Buyer | DE SOTO PACIFIC OWNER I LLC |
| Seller | BENDER FAMILY PROPERTIES LLC |
20904 W Gresham St Canoga Park Multifamily Investment
This 42-unit property built in 1991 benefits from strong neighborhood occupancy rates at 97.2% and a dense renter market where 60.6% of housing units are renter-occupied. CRE market data from WDSuite indicates the neighborhood ranks in the top quartile nationally for housing metrics among Los Angeles metro neighborhoods.
This Canoga Park neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy rates reaching 97.2% compared to typical market conditions. The area ranks 395th among 1,441 Los Angeles metro neighborhoods for occupancy performance, placing it above the metro median. Renter-occupied units comprise 60.6% of the housing stock, indicating strong rental demand depth in this urban core location.
The property's 1991 construction year aligns with the neighborhood average vintage of 1980, suggesting consistent building stock that may offer value-add renovation opportunities for investors focused on capital improvements. Demographic data aggregated within a 3-mile radius shows a population of 186,105 with median household income of $92,942, supporting rental affordability at current median rents of $1,909.
Amenity density supports tenant retention with 4.15 grocery stores per square mile ranking in the 94th percentile nationally, plus 3.11 childcare facilities per square mile ranking in the 96th percentile. The neighborhood's B+ rating reflects above-average housing metrics, though investors should monitor the rent-to-income ratio of 0.33, which ranks in the bottom quartile nationally and may indicate affordability pressures that could affect renewal rates.
Forward-looking demographics show household growth projected at 35.4% over five years, with renter-occupied units expected to increase from 28.8 to 35.1 units per 100 households. This expansion in the renter pool, combined with median rent projections of $2,647 by 2028, suggests sustained demand for multifamily housing in this submarket.
Safety metrics for this neighborhood show mixed but improving trends that investors should consider in their due diligence. Property crime rates of 115.5 incidents per 100,000 residents rank 282nd among 1,441 Los Angeles metro neighborhoods, placing the area above the metro median for property crime performance.
More encouraging for long-term investment prospects, both property and violent crime rates have declined significantly over the past year, with property crime dropping 84.7% and violent crime falling 95.7%. These improvement trends rank in the 99th and 100th percentiles nationally respectively, indicating substantial year-over-year safety gains that may support tenant retention and property values.
The employment base includes significant corporate presence within commuting distance, anchored by scientific and insurance sector employers that support workforce housing demand.
- Thermo Fisher Scientific — life sciences (2.2 miles)
- Farmers Insurance Exchange — insurance HQ (3.2 miles)
- Thermo Fisher Scientific — life sciences (3.6 miles)
- Charter Communications — telecommunications (14.2 miles)
- Occidental Petroleum — energy HQ (14.4 miles)
This 42-unit property presents a compelling case for investors seeking stable cash flow in a proven rental market. Neighborhood occupancy of 97.2% ranks above the Los Angeles metro median, while the 60.6% renter-occupied housing share indicates deep rental demand. The 1991 vintage suggests potential for value-add improvements that could drive rent growth beyond the current $1,909 neighborhood median.
Demographic projections show household growth of 35.4% over five years within the 3-mile radius, with renter-occupied units expected to expand significantly. According to multifamily property research from WDSuite, the neighborhood's B+ rating reflects above-average housing fundamentals, though the bottom-quartile rent-to-income ratio warrants careful lease management and renewal strategies.
- Strong occupancy fundamentals with 97.2% neighborhood rate above metro median
- Dense rental market with 60.6% of housing units renter-occupied
- Projected 35.4% household growth supporting future rental demand
- Value-add potential from 1991 vintage allowing strategic capital improvements
- Risk consideration: Bottom-quartile rent-to-income ratio requires active lease management