| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 54th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21037 Vanowen St, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 1997-08-18 |
| Transaction Price | $1,600,000 |
| Buyer | VAN VILLAS |
| Seller | SAMUEL OLGA |
21037 Vanowen St Canoga Park Multifamily Investment
Neighborhood fundamentals point to stable renter demand and above-average occupancy for the area, according to WDSuite’s CRE market data, which supports consistent leasing performance for a 36-unit asset.
Located in Canoga Park within the Los Angeles metro, the neighborhood rates B+ and performs above the metro median (rank 491 out of 1,441) with a renter-occupied share that is high for the region. The share of housing units that are renter-occupied sits in the upper tier nationally (96th percentile), which generally deepens the tenant base and supports demand durability for multifamily. Neighborhood occupancy is also above national norms, reinforcing near-term leasing stability rather than rapid swings.
Rents in the immediate neighborhood sit in the upper national tier while home values are elevated (96th percentile nationally), creating a high-cost ownership market that tends to sustain reliance on multifamily rentals and can support pricing power and retention. At the same time, the neighborhood’s NOI per unit benchmarks score in the upper decile nationally, signaling competitive performance relative to peers, per WDSuite’s commercial real estate analysis.
Amenities are mixed: grocery, pharmacy, and restaurants index well versus national peers (mid‑80s percentiles), while parks and cafes are relatively limited. For investors, this combination typically attracts everyday convenience-driven renters, though outdoor and coffee-shop amenities are thinner locally.
Demographic statistics aggregated within a 3‑mile radius show recent population and household growth with projections indicating smaller average household sizes ahead. A rising household count alongside smaller household sizes often expands the renter pool and supports occupancy stability, even if population growth moderates.
The asset’s 1988 construction is newer than the neighborhood’s typical 1960s vintage. That positioning can be competitively favorable versus older stock, with potential to capture value through targeted modernization or systems updates as needed.
Safety indicators compare favorably. The neighborhood’s crime environment ranks in the top quartile among 1,441 Los Angeles metro neighborhoods and is stronger than many areas nationwide (around the 81st national percentile). Recent estimates also indicate notable year‑over‑year declines in both property and violent offense rates, suggesting an improving trend rather than deterioration. These measures are neighborhood‑level and should be considered alongside on‑site security and operational practices.
Proximity to major employers supports workforce housing demand and commute convenience for renters, notably insurance, life sciences, energy, engineering & infrastructure, and entertainment headquarters and offices listed below.
- Farmers Insurance Exchange — insurance (0.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.1 miles)
- Occidental Petroleum — energy (12.6 miles) — HQ
- AECOM — engineering & infrastructure (13.7 miles) — HQ
- Live Nation Entertainment — entertainment (13.8 miles) — HQ
This 36‑unit, 1988‑vintage property benefits from a neighborhood with above‑average occupancy, a deep renter base, and high ownership costs that reinforce reliance on rentals. According to CRE market data from WDSuite, the area sits above metro medians with strong NOI per‑unit benchmarks and rents positioned in the upper tier nationally, supporting durable demand and steady lease performance. The asset’s newer‑than‑area vintage can compete well versus older stock, while selective renovations may unlock incremental rent and retention.
Investor considerations include limited nearby parks/cafes and forecasts that point to smaller household sizes and moderated population growth; however, a projected increase in household counts within 3 miles and proximity to diversified employment nodes should continue to support tenant demand and occupancy stability over the long term.
- Strong renter-occupied concentration and above‑average neighborhood occupancy support leasing stability
- Elevated home values bolster rental reliance and pricing power relative to ownership
- 1988 vintage is competitively newer than local stock with value‑add modernization potential
- Proximity to diversified employers underpins tenant demand and retention
- Risks: thinner park/cafe amenities and softer long‑run population growth require focused leasing and asset management