| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 54th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21021 Vanowen St, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 80 |
| Transaction Date | 1997-03-18 |
| Transaction Price | $1,456,000 |
| Buyer | RESEDA NMS LLC |
| Seller | VANOWEN LANDMARK LLC |
21021 Vanowen St Canoga Park Multifamily Investment
This 80-unit property benefits from strong neighborhood occupancy at 95.5% and a renter-majority market of 64.7%, according to CRE market data from WDSuite.
The Canoga Park neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy rates of 95.5% and strong rental demand supported by 64.7% renter-occupied housing units. Based on neighborhood-level data aggregated within a 3-mile radius, the area shows household income growth of 33% over five years, reaching a median of $95,144, while contract rents increased 29.2% to $2,028 median.
The neighborhood ranks in the 81st percentile nationally for housing metrics among 1,441 Los Angeles metro neighborhoods, reflecting above-average market conditions. Demographics support sustained rental demand with 25% of the population aged 18-34 and forecasted household growth of 35.1% through 2028, expanding the potential tenant base significantly.
Built in 1988, this property aligns with the neighborhood's average construction year of 1968, positioning it as relatively newer stock that may require less immediate capital expenditure than older competing properties. The area provides solid amenity access with 2.29 grocery stores and childcare facilities per square mile, ranking in the 85th and 94th percentiles nationally respectively, supporting tenant retention through convenience.
Rent-to-income ratios at 0.22 suggest manageable affordability levels for tenants, though investors should monitor renewal rates as income growth trends continue. The high home values with a median of $859,692 and value-to-income ratio of 9.48 reinforce rental demand by maintaining elevated barriers to homeownership for many households.
Crime trends show meaningful improvement with property offenses declining 84.4% year-over-year and violent offenses down 96.5%, placing the neighborhood in the 98th and 100th percentiles nationally for crime reduction. The neighborhood ranks 202nd among 1,441 Los Angeles metro neighborhoods for overall crime, positioning it in the top quartile for safety performance.
Current property offense rates of 152.4 per 100k residents and violent offense rates of 11.8 per 100k residents reflect ongoing security considerations that investors should factor into property management and tenant screening protocols. The substantial year-over-year crime reductions suggest improving conditions that may support tenant retention and leasing velocity.
The property benefits from proximity to major corporate employers that provide workforce housing demand, with insurance and technology companies anchoring local employment within commuting distance.
- Farmers Insurance Exchange — insurance — HQ (0.9 miles)
- Thermo Fisher Scientific — life sciences (1.1 miles)
- Thermo Fisher Scientific — life sciences (2.7 miles)
- Occidental Petroleum — energy — HQ (12.6 miles)
- AECOM — engineering services — HQ (13.7 miles)
This 80-unit Canoga Park property offers stable cash flow fundamentals with neighborhood occupancy at 95.5% and strong rental demand from a 64.7% renter-occupied market. Multifamily property research indicates the area benefits from robust household income growth of 33% over five years and projected household expansion of 35.1% through 2028, supporting tenant demand and potential rent growth. The 1988 construction vintage positions the asset as newer than the neighborhood average, potentially reducing near-term capital expenditure requirements compared to competing properties.
High home values with a median of $859,692 and elevated ownership costs reinforce rental housing demand, while improving safety trends with significant crime reductions enhance the investment environment. The proximity to major employers including Farmers Insurance headquarters provides workforce housing appeal and commute convenience for professional tenants.
- Strong occupancy fundamentals at 95.5% neighborhood level with renter-majority market dynamics
- Projected household growth of 35.1% through 2028 expanding tenant base
- Newer vintage relative to neighborhood average potentially reducing capital expenditure needs
- High ownership costs at $859,692 median home value sustaining rental demand
- Risk consideration: Monitor rent-to-income ratios and renewal rates as market dynamics evolve