| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21051 Gresham St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1982 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21051 Gresham St Canoga Park Multifamily Investment
Neighborhood occupancy remains high and stable, according to WDSuite’s CRE market data, positioning this asset to serve durable renter demand in Canoga Park. The thesis centers on a deep renter base and a high-cost ownership market that supports retention.
Located in Los Angeles’ Canoga Park, the property benefits from an Urban Core setting where neighborhood occupancy is strong and has trended higher over five years. At the neighborhood level, occupancy is in the top quartile nationally, a supportive backdrop for lease stability and pricing discipline. Renter-occupied housing represents a majority share of local units, indicating a sizable tenant base to draw from and potential depth for renewals and lease-up.
Everyday convenience is a relative strength: neighborhood amenities rank in the top quartile among 1,441 metro neighborhoods, with grocery, pharmacy, childcare, and cafe densities comparing favorably to national benchmarks. Park access is limited, which may modestly reduce recreational appeal, but proximity to retail and services can offset this for many renters.
Home values in the neighborhood sit in a high-cost ownership market (above the 90th percentile nationally), which tends to reinforce multifamily demand and support retention. Median contract rents are also in upper national percentiles and have risen meaningfully over the past five years; investors should manage affordability pressure carefully to maintain lease performance. This balance of elevated ownership costs and steady renter demand aligns with sustained occupancy at the neighborhood level.
Within a 3-mile radius, WDSuite data indicate recent population growth with higher household incomes, and forward-looking estimates show households expanding even as population edges lower—suggesting smaller household sizes and a broader household count. For investors, that dynamic can translate to a larger renter pool over time, supporting occupancy and absorption, provided rent growth is calibrated to local income trends and commercial real estate analysis remains disciplined.
Safety conditions compare favorably: the neighborhood ranks in a stronger tier within the Los Angeles metro (top quartile among 1,441 neighborhoods) and sits above the 80th percentile for safety nationally based on WDSuite metrics. Recent readings also show notable year-over-year declines in both property and violent offense estimates, indicating an improving trend rather than a spike-driven change.
Investors should continue to monitor neighborhood-level trends over multiple periods, but the combination of an above-metro showing and positive momentum is supportive for resident retention and long-term operations.
The area draws from a diverse employment base that supports renter demand and commute convenience, including life sciences, insurance, communications, energy, and entertainment—specifically Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Occidental Petroleum, and Live Nation.
- Thermo Fisher Scientific — life sciences (2.0 miles)
- Farmers Insurance Exchange — insurance (3.2 miles) — HQ
- Charter Communications — communications (14.4 miles)
- Occidental Petroleum — energy (14.6 miles) — HQ
- Live Nation Entertainment — entertainment (15.5 miles) — HQ
This 81-unit asset sits in a Los Angeles neighborhood with top-quartile occupancy nationally and above-metro amenity positioning, supporting stable operations and tenant retention. Elevated neighborhood home values relative to incomes create a high-cost ownership market, which typically sustains multifamily demand and reduces move-outs to ownership. According to CRE market data from WDSuite, neighborhood rents are in upper national percentiles and have grown over five years, underscoring revenue potential if managed alongside affordability.
Within a 3-mile radius, households are projected to expand even as population trends modestly lower, implying smaller household sizes and a wider household base—dynamics that can broaden the renter pool. Coupled with a strong employer mix across life sciences, insurance, communications, energy, and entertainment, the location supports leasing durability, provided rent strategies respect local income growth and resident affordability.
- Top-quartile neighborhood occupancy supports stability and renewal depth
- High-cost ownership market reinforces reliance on rental housing
- Diverse nearby employers underpin steady demand across renter cohorts
- Forward outlook: more households within 3 miles can expand the renter pool
- Risks: affordability pressure and limited park access call for careful lease and amenity management