| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21106 Parthenia St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1980 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21106 Parthenia St Canoga Park Multifamily Investment
Neighborhood renter demand is supported by high occupancy and a deep renter-occupied housing base, according to WDSuite’s CRE market data. Investors screening Los Angeles’ San Fernando Valley submarkets may find stable tenancy dynamics and durable pricing power at this address.
The property sits in a Canoga Park neighborhood rated B+ with an Urban Core profile, where neighborhood occupancy is strong and the renter-occupied share is elevated. The area’s occupancy ranks above the metro median among 1,441 Los Angeles–Long Beach–Glendale neighborhoods, supporting lease stability for multifamily assets, while a higher renter concentration signals depth in the tenant base rather than reliance on a narrow demand segment.
Local convenience is a differentiator: grocery and pharmacy access score in high national percentiles, and cafes and restaurants are dense for the area. These amenity dynamics compare favorably to many neighborhoods nationwide and can enhance resident retention even when rental rates trend up with the market.
Within a 3-mile radius, demographics show modest population growth in recent years alongside a growing household count and a smaller average household size. Looking ahead, projections indicate more households even as population trends flatten, implying smaller household sizes and steady multifamily demand through a larger number of renting households rather than sheer population gains.
Home values are elevated compared with national benchmarks and the value-to-income ratio sits in a high national percentile, indicating a high-cost ownership market that tends to sustain demand for rentals. At the same time, rent-to-income ratios suggest some affordability pressure, which calls for prudent rent management to support renewals and occupancy.
Safety indicators compare favorably at the national level, with the neighborhood landing above the national median and portions in the top quartile nationally. Within the Los Angeles metro, conditions vary by subarea, but recent year-over-year estimates point to notable declines in both violent and property offenses, which supports a more stable operating backdrop for multifamily assets.
Investors should underwrite to submarket trends rather than block-level assumptions and monitor trajectory over multiple periods. The improving direction in estimated incident rates is a constructive signal, but on-the-ground diligence remains important for asset-specific risk assessment.
The area draws from a broad employment base across corporate services and energy, supporting commuter convenience and diversified renter demand. Notable nearby employers include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Occidental Petroleum, and AECOM.
- Thermo Fisher Scientific — corporate offices (1.95 miles)
- Farmers Insurance Exchange — corporate offices (3.01 miles) — HQ
- Charter Communications — corporate offices (14.35 miles)
- Occidental Petroleum — corporate offices (14.44 miles) — HQ
- AECOM — corporate offices (15.43 miles) — HQ
This 31-unit asset benefits from neighborhood fundamentals that favor multifamily: occupancy remains high and renter-occupied housing is substantial at the neighborhood level, reinforcing depth of the tenant base. Elevated home values relative to incomes point to a high-cost ownership market that tends to sustain renter reliance on apartments. Within a 3-mile radius, recent gains in household counts and projected growth in households alongside smaller average household size suggest more renting households entering the market, which supports occupancy stability and steady leasing.
Operating metrics in the area are competitive versus national benchmarks, and amenity access is strong, bolstering retention. According to CRE market data from WDSuite, rent levels have trended upward in the neighborhood and nationally comparable Urban Core areas, while local rent-to-income dynamics indicate the need for thoughtful lease management to balance pricing power with retention. Forward risks include flat-to-soft population trends in the wider area and limited park access, but the employer base and neighborhood convenience help underpin renter demand.
- High neighborhood occupancy and substantial renter-occupied housing support durable demand
- Elevated home values versus incomes reinforce reliance on rental housing
- Growing household counts within 3 miles and strong amenities aid retention and lease-up
- Data-driven underwriting supported by WDSuite helps calibrate pricing power and retention
- Risks: potential affordability pressure and flat population trajectory require disciplined rent strategy