| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 34th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21611 Saticoy St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1997 |
| Units | 68 |
| Transaction Date | 2023-03-24 |
| Transaction Price | $11,739,000 |
| Buyer | EHF NOBLE PINES PROPCO LP |
| Seller | NOBLE PINES LP |
21611 Saticoy St, Canoga Park Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite s CRE market data, with a strong renter-occupied base supporting leasing stability.
Situated in Los Angeles San Fernando Valley, the area around 21611 Saticoy St shows above metro median overall performance (ranked 680 among 1,441 Los Angeles metro neighborhoods) with a B neighborhood rating, per WDSuite. Grocery and dining access outperform most U.S. locations (national percentiles in the mid-to-high 90s), while parks and caf e9 density are comparatively limited factors investors can weigh when assessing resident appeal and retention.
The property s 1997 construction is newer than the neighborhood s average 1979 vintage, which can improve competitive positioning versus older stock. Investors should still plan for mid-life system updates and targeted common-area or in-unit modernization to defend rents and reduce long-term capex surprises.
Multifamily demand signals are constructive: the neighborhood s renter-occupied share is elevated (83%+ of housing units), indicating a deep tenant base and potential occupancy resilience at the neighborhood level. Median contract rents in the area sit well above national norms (mid-80s percentile) after multi-year growth, supporting pricing power but requiring active lease management as rent-to-income ratios run high for the neighborhood.
Within a 3-mile radius, WDSuite s demographics indicate modest population growth over the last five years alongside an increase in households and a slight downshift in average household size. Looking ahead, forecasts point to relatively steady population with continued household increases and smaller average household sizes, which can expand the renter pool and support occupancy. Elevated home values (upper-80s national percentile) characterize a high-cost ownership market, which tends to sustain reliance on rental housing and can aid lease retention.
Safety indicators compare favorably to many neighborhoods nationwide: WDSuite s national percentiles show violent offenses around the upper-half nationally and property offenses in a stronger position, with recent data indicating sharp year-over-year declines in both categories. While conditions can vary block to block, the directional trend and comparative standing suggest a generally competitive safety profile relative to U.S. neighborhoods. Investors should still underwrite with standard operating assumptions for urban Los Angeles assets and monitor local reports for micro-trend shifts.
The surrounding employment base blends insurance, life sciences, energy, and professional services, supporting commuter convenience and renter demand from a diverse set of white-collar and operations roles.
- Farmers Insurance Exchange insurance (1.6 miles) HQ
- Thermo Fisher Scientific life sciences (1.6 miles)
- Occidental Petroleum energy (13.7 miles) HQ
- Charter Communications telecommunications (14.7 miles)
- AECOM engineering & professional services (14.8 miles) HQ
This 68-unit, mid-size asset built in 1997 benefits from a renter-heavy neighborhood and occupancy levels that trend strong for the Los Angeles metro. Based on CRE market data from WDSuite, the area posts high national standing for restaurants and groceries, while ownership costs remain elevated, reinforcing reliance on rental housing and supporting tenant retention when paired with focused operations.
The vintage positions the property ahead of older local stock, with potential to unlock value through selective interior updates and systems modernization. Household growth within a 3-mile radius and a smaller average household size point to a broader tenant base over time. Counterbalancing these positives, the neighborhood s higher rent-to-income profile warrants careful renewal strategies and thoughtful pricing to maintain occupancy stability.
- Renter concentration supports depth of tenant demand and occupancy stability.
- 1997 vintage offers competitive positioning with value-add potential via targeted renovations.
- Amenity access (groceries/dining) and high-cost ownership market bolster leasing durability.
- 3-mile household growth and smaller household sizes suggest a wider renter pool over time.
- Risk: Elevated rent-to-income ratios require disciplined renewal and retention management.