| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 40th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21350 Parthenia St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2015-03-11 |
| Transaction Price | $5,500,000 |
| Buyer | Palmyra Ave Group LLC |
| Seller | 21350 Parthenia Apartments Own, Other, Ryan Somers, PCraicseh/ uEnqitu aivnadle /nsft |
21350 Parthenia St, Canoga Park Multifamily Investment
Neighborhood occupancy trends indicate stable renter demand in this Inner Suburb pocket of Los Angeles, according to WDSuite’s CRE market data. With a moderate renter base and established 1980s-era stock nearby, this asset’s positioning supports steady leasing with prudent asset management.
Located in Canoga Park within the Los Angeles metro, the immediate neighborhood shows high occupancy relative to peers, ranking in the top quartile among 1,441 metro neighborhoods. That backdrop points to durable leasing and low downtime risk at the property level when managed effectively.
Renter-occupied share at the neighborhood level is moderate, signaling a workable depth of tenant demand without overconcentration. Within a 3-mile radius, households have increased and are projected to expand further as average household size trends lower, which can widen the renter pool and support occupancy stability over time.
Amenity access is mixed: restaurant and café density scores competitively on a national basis, while immediate access to grocery, parks, and pharmacies is thinner inside the neighborhood boundary. For investors, this typically shifts the value proposition toward convenience to employment corridors and transit links rather than walk-to daily needs.
Typical contract rents in the neighborhood sit above national norms (national percentile upper range), which supports revenue potential, but rent-to-income around one-third suggests some affordability pressure that calls for disciplined renewal strategies and targeted unit positioning.
Safety indicators for the neighborhood compare favorably against national benchmarks, landing in the top quartile nationally on both violent and property offense measures. Recent year-over-year trends also point to meaningful declines in estimated offense rates, which supports tenant retention and leasing consistency.
As with most Los Angeles submarkets, conditions can vary block to block, so investors should evaluate property-level controls and lighting, but the neighborhood’s comparative standing versus U.S. peers provides a supportive context for multifamily operations.
Proximity to established employers underpins workforce renter demand and commute convenience here, led by Thermo Fisher Scientific, Farmers Insurance, and larger corporate offices in the Warner Center–to–Westside corridor including 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 (14.6 miles)
- Occidental Petroleum — energy (14.6 miles) — HQ
- AmerisourceBergen — pharmaceuticals distribution (14.6 miles)
The property’s 1988 vintage is slightly newer than the neighborhood average, offering competitive positioning versus older stock while leaving room for selective system upgrades or interior refreshes to enhance NOI. Neighborhood occupancy sits in the top quartile among 1,441 Los Angeles metro neighborhoods, supporting an expectation of limited downtime and steady leasing. According to CRE market data from WDSuite, local rent levels trend above national norms, which can sustain revenue, while rent-to-income near one-third suggests careful renewal and pricing strategies are prudent.
Within a 3-mile radius, household counts have been growing and are projected to expand further even as average household size declines—factors that typically enlarge the renter pool and support occupancy stability. Amenity access is mixed, with strong dining/coffee density but thinner immediate access to daily-needs retail; this places greater weight on proximity to employment nodes and asset-level convenience features.
- Top-quartile neighborhood occupancy in Los Angeles metro supports leasing stability
- 1988 vintage provides competitive positioning with potential value-add from targeted upgrades
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Rent levels above national norms support revenue potential with disciplined lease management
- Risk: thinner immediate grocery/park access and affordability pressure warrant amenity and pricing strategy focus