| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20939 Parthenia St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1977 |
| Units | 70 |
| Transaction Date | 1993-08-30 |
| Transaction Price | $2,800,000 |
| Buyer | MANAGED PROPERTIES INC |
| Seller | LENDER SERVICE BUREAU |
20939 Parthenia St Canoga Park Multifamily Investment
Positioned in an Urban Core pocket of Canoga Park with above-metro neighborhood occupancy and a deep renter base, this asset offers durable demand drivers, according to WDSuite s CRE market data. Neighborhood statistics reflect area-wide conditions (not the property), pointing to stable leasing fundamentals and room for value-add execution.
The property sits within a B+ rated neighborhood that is competitive among Los Angeles metro neighborhoods (ranked 410 of 1,441). Neighborhood-level occupancy trends are above the metro median, supporting leasing stability for multifamily operators. Renter concentration is high at the neighborhood level, indicating a broad tenant base and consistent demand for apartment product.
Everyday convenience is a strength: grocery access and pharmacies score in the upper national percentiles, with cafes and restaurants also performing well versus national peers. Park access is limited locally, which may modestly affect lifestyle appeal; however, average school ratings are above the national median, adding balance for family-oriented renters.
Construction vintage skews slightly older than the area average (1977 vs. ~1980), which points to clear value-add and capital planning opportunities e from interior refreshes to systems modernization e to enhance competitiveness against newer stock. For investors, this can translate into targeted capex that supports rent premiums without over-improving for the submarket.
Within a 3-mile radius, demographics show recent population growth alongside a rising household count and smaller average household sizes. This mix generally supports a larger tenant base and steady absorption of smaller floor plans. Elevated home values in the neighborhood context reinforce renter reliance on multifamily housing, which can aid retention and pricing power while requiring active lease management to monitor affordability.
Safety indicators for the broader neighborhood compare favorably to many areas nationwide, with overall measures landing in the top quartile nationally. According to WDSuite s data, both violent and property offense metrics are better than national averages, and recent year-over-year trends point to notable declines. These are neighborhood-level signals and can support renter retention and leasing velocity, though on-the-ground diligence remains important.
Nearby corporate employment anchors help sustain renter demand through commute convenience and a diverse white-collar workforce. Key employers include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Occidental Petroleum, and AmerisourceBergen.
- Thermo Fisher Scientific life sciences (2.1 miles)
- Farmers Insurance Exchange insurance (3.1 miles) HQ
- Charter Communications telecommunications (14.2 miles)
- Occidental Petroleum energy (14.4 miles) HQ
- AmerisourceBergen pharmaceutical distribution (14.5 miles)
This 70-unit asset with efficient average unit sizes benefits from neighborhood occupancy strength and a high share of renter-occupied housing, supporting depth of demand and lease-up resilience. The 1977 vintage suggests actionable value-add potential eunit renovations and building systems updates eto sharpen positioning versus newer product while managing capital outlays. Elevated ownership costs in the area tend to sustain reliance on rentals, which can support rent growth and retention with thoughtful affordability and renewal strategies.
According to commercial real estate analysis from WDSuite, the neighborhood s amenity access is strong for daily needs, and household counts within 3 miles have been rising, expanding the renter pool even as average household size trends lower. Looking ahead, monitoring forecast shifts in population and rent levels alongside capex execution will be key to realizing the asset s operational upside.
- Above-metro neighborhood occupancy and strong renter concentration support stable demand
- 1977 vintage offers clear value-add and systems modernization pathways
- Strong neighborhood amenity access and rising 3-mile household counts expand the tenant base
- High-cost ownership environment reinforces rental reliance and pricing power
- Risks: limited park access and potential demographic shifts require proactive leasing and asset management