| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 40th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21320 Parthenia St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2018-11-29 |
| Transaction Price | $7,205,000 |
| Buyer | Daniel Dunkelman |
| Seller | Riadh Fakhoury |
21320 Parthenia St, Canoga Park Multifamily Investment
Neighborhood occupancy trends point to durable renter demand, according to WDSuite’s CRE market data, supporting a steady leasing backdrop for a 24-unit asset with larger average floor plans. Insights from multifamily property research suggest pricing power will depend on managing affordability and tenant retention.
Positioned in an inner-suburban pocket of Los Angeles County, the neighborhood posts a high occupancy rate (reported for the neighborhood, not the property) with performance in the top quartile among 1,441 metro neighborhoods. According to WDSuite’s CRE market data, neighborhood NOI per unit trends are also strong versus national peers, indicating a supportive income profile for stabilized multifamily.
Daily-life amenities are mixed: restaurants and cafes are plentiful relative to national norms (restaurants and coffee options rank well above most U.S. neighborhoods), which helps with livability and leasing appeal. However, counts for grocery, parks, and pharmacies within the immediate neighborhood are limited, so residents may rely on nearby districts for some errands—an operational consideration for marketing and retention.
The neighborhood’s renter-occupied share is in the upper range locally (measured for the neighborhood), signaling a meaningful tenant base for multifamily operators. Median contract rents and NOI sit above many national benchmarks, while rent-to-income indicates some affordability pressure; for investors, this points to the need for active lease management rather than outsized rent steps.
Within a 3-mile radius, demographics show modest population growth historically with a larger increase in households, expanding the pool of potential renters. Forward-looking data indicate households continue to rise even as average household size declines, which can support unit absorption and occupancy stability over time.
Safety indicators compare favorably to many neighborhoods nationwide, with the area landing in higher national percentiles for both violent and property offense safety. Recent data also show notable year-over-year improvement in estimated offense rates. These figures are neighborhood-level indicators and should be used for comparative context across the Los Angeles-Long Beach-Glendale metro rather than as block-level guarantees.
The employment base combines life sciences, insurance, media/telecom, and energy/engineering, supporting renter demand through a diverse set of nearby commuters. Major employers include Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Occidental Petroleum, and AECOM.
- Thermo Fisher Scientific — life sciences (1.8 miles)
- Farmers Insurance Exchange — insurance (3.0 miles) — HQ
- Charter Communications — telecom & media (14.5 miles)
- Occidental Petroleum — energy (14.5 miles) — HQ
- AECOM — engineering & infrastructure (15.5 miles) — HQ
This 24-unit, 1988-vintage asset offers larger average floor plans in a neighborhood that, per WDSuite’s CRE market data, maintains high occupancy and above-average income performance relative to national peers. Proximity to diversified employment and strong food-and-beverage density supports leasing, while limited immediate grocery and park counts suggest targeting convenience-focused amenities on-site.
Given the 1988 construction, systems and common areas may benefit from selective modernization to sharpen competitive positioning versus older local stock (average neighborhood vintage trends earlier in the 1980s). Renter-occupied share is meaningful and household growth within a 3-mile radius expands the tenant base, but a higher rent-to-income burden implies measured rent growth and emphasis on renewal strategies.
- High neighborhood occupancy and strong relative NOI support income stability
- 1988 vintage with value-add potential through targeted upgrades
- Diverse nearby employers and strong dining density aid leasing and retention
- Expanding household base within 3 miles broadens the renter pool
- Risk: affordability pressure requires careful pricing and renewal management