| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 34th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21821 Saticoy St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1983 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21821 Saticoy St Canoga Park Multifamily Investment
This 36-unit property benefits from strong neighborhood occupancy at 97.5% and a high concentration of renter-occupied housing units at 83.3%, supporting stable tenant demand according to WDSuite's CRE market data.
The Canoga Park submarket presents a rental-focused housing environment with 83.3% of units occupied by renters, ranking in the top quartile nationally among 1,441 metro neighborhoods. Neighborhood-level occupancy trends remain strong at 97.5%, though down slightly over the past five years. Built in 1983, this property aligns with the area's average construction year of 1979, indicating consistent building stock without immediate capital expenditure pressures.
Demographics within a 3-mile radius show a stable tenant base of 185,793 residents across 63,051 households, with modest population growth of 1.5% over five years. Household income averages $95,162 median, with projections indicating continued growth to $121,520 by 2028. The area maintains strong amenity density, ranking above the 63rd percentile nationally, with 5.8 grocery stores per square mile and substantial restaurant access supporting tenant retention.
Home values average $552,128 with 45% appreciation over five years, creating elevated ownership costs that reinforce rental demand and sustain multifamily housing reliance. The rent-to-income ratio of 0.33 suggests manageable affordability for tenants, though investors should monitor renewal rates given the low 4th percentile national ranking on this metric. Forward-looking household formation projects 37.5% growth in total households by 2028, expanding the potential renter pool within the submarket.
Crime metrics indicate favorable conditions relative to metro and national benchmarks, with the neighborhood ranking 160th out of 1,441 Los Angeles metro neighborhoods and achieving the 83rd percentile nationally for overall safety. Property offense rates have declined significantly by 92.7% year-over-year, placing the area in the top percentile nationally for crime reduction trends.
Violent crime rates remain moderate at 22.6 incidents per 100,000 residents, ranking around the metro median. The substantial year-over-year improvement in both property and violent crime metrics suggests ongoing neighborhood stabilization, supporting tenant retention and property values over the investment horizon.
The employment base centers on corporate offices and insurance operations within commuting distance, providing workforce housing opportunities for professional tenants in the San Fernando Valley submarket.
- Thermo Fisher Scientific — life sciences and laboratory equipment (1.5 miles)
- Farmers Insurance Exchange — insurance services (1.6 miles) — HQ
- Thermo Fisher Scientific — life sciences and laboratory equipment (2.1 miles)
- Occidental Petroleum — energy and oil operations (13.8 miles) — HQ
- AECOM — engineering and construction services (14.9 miles) — HQ
This 1983-vintage property operates in a fundamentally rental-oriented submarket where 83.3% of housing units are renter-occupied, ranking in the top quartile nationally. Neighborhood occupancy remains elevated at 97.5%, while elevated home values averaging $552,128 reinforce rental demand by keeping households in the multifamily market. Demographics within a 3-mile radius project 37.5% household growth through 2028, expanding the tenant base for lease-up and renewal activity.
The property benefits from proximity to established corporate employers including Thermo Fisher Scientific and Farmers Insurance Exchange headquarters within two miles, supporting professional tenant demand. Based on CRE market data from WDSuite, the submarket's NOI per unit averages $11,815, ranking in the 87th percentile nationally, indicating strong revenue potential relative to operating expenses.
- Strong renter concentration at 83.3% of housing units supports stable tenant demand
- Neighborhood occupancy at 97.5% indicates consistent absorption and low vacancy risk
- Projected 37.5% household growth through 2028 expands potential tenant base
- Elevated ownership costs reinforce rental market participation and lease retention
- Risk consideration: Rent-to-income ratio ranks low nationally, requiring careful lease management