| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 40th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21330 Parthenia St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 1998-03-30 |
| Transaction Price | $1,200,000 |
| Buyer | PARTHENIA EHE |
| Seller | FEDERAL NATIONAL MORTGAGE ASSOCIATION |
21330 Parthenia St Canoga Park Multifamily Opportunity
Neighborhood occupancy trends are strong and support steady renter demand, according to WDSuite’s CRE market data.
Situated in an inner-suburban pocket of Los Angeles County, the property benefits from a neighborhood with high occupancy and resilient renter demand. The area s occupancy ranks 196 out of 1,441 metro neighborhoods, which is competitive among Los Angeles-Long Beach-Glendale neighborhoods and aligns with a top-quartile national standing. For investors, this backdrop points to support for lease-up and renewal stability rather than heavy concessions.
Renter-occupied housing comprises a notable share of neighborhood units (renter concentration measures are above the national median), indicating a meaningful tenant base for multifamily. Within a 3-mile radius, households have expanded over the last five years and are expected to continue increasing even as average household size trends lower. This shift typically widens the pool of prospective renters and can support occupancy stability for well-positioned assets.
Day-to-day convenience skews toward food-and-beverage access: restaurant and caf e9 density register in the 96th and 98th percentiles nationally, respectively. Other everyday services show thinner representation in the immediate neighborhood, so residents may rely on nearby corridors for grocery, pharmacy, parks, or childcare. For multifamily owners, this mix suggests marketing toward renters prioritizing commute convenience and dining options, while amenity programming on-site can help offset limited neighborhood services.
Built in 1988, the asset is newer than the neighborhood b4s average vintage. That positioning can provide an edge over older local stock; however, investors should still budget for modernization of building systems and finishes to sustain competitive standing. Elevated rent-to-income ratios at the neighborhood level imply some affordability pressure, suggesting disciplined revenue management will matter for retention and collections.
Safety indicators for the neighborhood compare favorably in both the metro and national contexts. Crime ranks near the top among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and trends in the top decile nationally, signaling comparatively safer conditions than many peer areas.
Recent year-over-year trends show substantial declines in both property and violent offense estimates, placing the neighborhood among the strongest improvers nationally. While crime can vary by block and over time, these comparative metrics point to a constructive trajectory that supports resident retention and long-term positioning.
Nearby corporate employers anchor a diverse employment base that supports renter demand and commute convenience, including Thermo Fisher Scientific, Farmers Insurance, Charter Communications, Occidental Petroleum, and AmerisourceBergen.
- Thermo Fisher Scientific life sciences (1.8 miles)
- Farmers Insurance Exchange insurance (3.0 miles) HQ
- Charter Communications telecommunications (14.5 miles)
- Occidental Petroleum energy (14.5 miles) HQ
- AmerisourceBergen pharmaceutical distribution (14.6 miles)
This 24-unit property combines a high-occupancy neighborhood profile with a sizable regional employment base, creating a favorable setup for cash flow durability. Based on CRE market data from WDSuite, local occupancy performance is competitive within the Los Angeles metro and ranks in the upper tier nationally, indicating a supportive demand backdrop for stabilized multifamily assets.
The 1988 vintage is newer than the neighborhood average, offering relative competitiveness versus older stock while still presenting value-add potential through targeted system upgrades and interior modernization. Within a 3-mile radius, households have grown and are projected to expand further as average household size moderates, which typically enlarges the renter pool. Balanced against this, pockets of affordability pressure and thinner representation of certain everyday services suggest a need for disciplined pricing and amenity-driven retention strategies.
- Competitive neighborhood occupancy supports lease-up and renewal stability
- 1988 construction provides an edge versus older local stock with value-add upside
- Diverse nearby employers underpin renter demand and retention
- Household growth within 3 miles points to a broader renter base over time
- Risks: affordability pressure and thinner nearby services call for careful revenue and amenity strategy