| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20918 Gresham St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 2003 |
| Units | 49 |
| Transaction Date | 2017-11-03 |
| Transaction Price | $13,900,000 |
| Buyer | SUSSEX VICTORY COURT 24 LLC |
| Seller | PUR TOSCANA LLC |
20918 Gresham St Canoga Park Multifamily Investment
Neighborhood occupancy signals durable renter demand and supports income stability for a 49-unit asset, according to WDSuite’s CRE market data. Insights reference the surrounding neighborhood, not the property’s own performance.
Positioned in Los Angeles County’s Canoga Park, the property benefits from an Urban Core neighborhood with a B+ rating that is competitive among 1,441 Los Angeles–Long Beach–Glendale neighborhoods (ranked 410), suggesting solid locational fundamentals for multifamily. Neighborhood occupancy is strong and in the top quartile nationally, supporting leasing consistency at the submarket level rather than at the property itself.
The 2003 vintage is newer than the neighborhood’s average construction year of 1980, which can enhance competitive positioning versus older stock. Investors should still plan for aging building systems typical of early-2000s assets, while evaluating selective value-add and modernization to meet current renter preferences.
Local livability indicators favor renter retention: dense everyday amenities score above metro medians, with neighborhood rankings and national percentiles indicating good access to groceries, pharmacies, cafes, and childcare. Average school ratings near 3.0/5 are serviceable for workforce households, though not a distinguishing strength relative to top-rated Los Angeles submarkets.
Neighborhood tenure shows a high renter-occupied share, indicating a deep tenant base for multifamily demand. Within a 3-mile radius, households have increased over the past five years alongside modest population growth, expanding the local renter pool. Forward-looking estimates show household counts continuing to rise while average household size trends lower, which can support occupancy stability and unit absorption even if population growth moderates.
Home values in the area are elevated by national standards, characteristic of a high-cost ownership market in Los Angeles. This tends to reinforce reliance on rental housing and can support pricing power for well-located product, though lease management should account for rent-to-income pressures when optimizing renewal strategies.
Neighborhood safety indicators compare favorably at the national level, with metrics in the upper percentiles nationwide indicating relatively safer conditions than many U.S. neighborhoods. Within the Los Angeles–Long Beach–Glendale metro (1,441 neighborhoods), safety ranks indicate competitive standing rather than outlier performance.
Recent trends show notable year-over-year reductions in both property and violent offenses in the broader neighborhood, according to WDSuite data. While block-level outcomes vary and conditions can change, these directional improvements reduce volatility risk relative to prior periods and support renter retention when paired with effective on-site security and resident engagement.
Proximity to established employers supports a stable renter pipeline and commute convenience for workforce tenants, anchored by life sciences, insurance, telecommunications, pharma distribution, and energy firms located within a commutable radius.
- Thermo Fisher Scientific — life sciences (2.2 miles)
- Farmers Insurance Exchange — insurance (3.2 miles) — HQ
- Charter Communications — telecommunications (14.2 miles)
- AmerisourceBergen — pharmaceutical distribution (14.4 miles)
- Occidental Petroleum — energy (14.4 miles) — HQ
This 49-unit, early-2000s asset offers a balanced mix of durability and potential upside in a neighborhood that is competitive among Los Angeles–Long Beach–Glendale peers. Neighborhood occupancy sits in the top quartile nationally, and the renter-occupied share is high, indicating depth in the tenant base and supporting renewal performance. Elevated local home values sustain reliance on rentals, while the 2003 vintage should position the property favorably versus older nearby stock, with targeted upgrades to finishes and building systems likely to enhance performance.
Within a 3-mile radius, recent increases in households and income growth expand the renter pool, even as household sizes trend lower. According to CRE market data from WDSuite, neighborhood-level rents and occupancy remain supportive for professionally managed product, though lease management should account for affordability pressure and demand elasticity. Limited park access and only moderate school scores are secondary considerations when underwriting rent premiums.
- Competitive Urban Core location with top-quartile neighborhood occupancy supporting leasing stability
- 2003 vintage offers relative competitiveness vs. older stock, with value-add potential through selective upgrades
- High renter-occupied share and expanding household counts within 3 miles deepen the tenant base
- Elevated ownership costs in the area reinforce multifamily demand and potential pricing power
- Risks: rent-to-income pressures, modest school ratings, and limited nearby park access warrant conservative underwriting