| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 34th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21845 Saticoy St, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | 2012-06-29 |
| Transaction Price | $5,400,054 |
| Buyer | 21845 SATICOY STREET LLC |
| Seller | VALLEY ASSOCIATES LLC |
21845 Saticoy St, Canoga Park Multifamily Investment
Renter demand is supported by a high neighborhood occupancy backdrop and elevated ownership costs, according to WDSuite’s CRE market data. Focus is on durable cash flow with potential value-add from a 1972 vintage relative to newer nearby stock.
Situated in Canoga Park within the Los Angeles metro, this Urban Core neighborhood carries a B rating and demonstrates leasing resilience. Neighborhood occupancy is strong (top quartile nationally), signaling stable tenant demand and fewer downtime risks at the property level. Median asking rents in the neighborhood trend above many U.S. submarkets (upper-quartile nationally), reinforcing revenue potential while requiring careful affordability management.
Amenity access skews practical: grocery and restaurant density ranks competitive among Los Angeles neighborhoods and in the national top decile, while parks and cafes are relatively limited. Pharmacy access is also strong. This mix favors day-to-day convenience for residents, though lifestyle-focused amenities may rely on broader Valley destinations. Transit options and key commuter corridors across the West Valley support connectivity to employment nodes.
The renter-occupied share of housing units is very high (competitive among 1,441 Los Angeles metro neighborhoods and near the top nationally), indicating a deep tenant base and consistent absorption potential for multifamily. Neighborhood NOI per unit trends in the upper quartile nationwide, suggesting a supportive revenue/expense profile at the neighborhood level rather than a guarantee for the subject asset.
Within a 3-mile radius, population has inched higher, with households expanding and forecast to continue increasing over the next several years. A shift toward smaller average household size also points to steady formation of renter households, which can support occupancy stability and broaden the prospective tenant pool. Elevated home values relative to incomes in the neighborhood context reinforce reliance on rental housing, aiding lease retention and pricing power for competitively positioned units.
The property’s 1972 construction is older than the neighborhood’s typical 1979 vintage. Investors should underwrite for ongoing capital planning and modernization, with potential value-add upside through unit renovations, system updates, and amenity refresh that can enhance competitiveness against newer product.
Neighborhood-level safety indicators benchmark favorably in broader comparisons. Based on WDSuite’s data, overall crime metrics are in the top quartile nationally, and performance is competitive among 1,441 Los Angeles metro neighborhoods. Violent-offense measures trend modestly better than national midline, while estimated property- and violent-offense rates show notable year-over-year improvement. These are neighborhood-wide signals and not block-level guarantees, but the directional trend supports tenant retention and operational stability.
Nearby corporate offices anchor diverse employment across healthcare/life sciences, insurance, energy, telecom, and infrastructure—supporting a broad renter base and commute convenience for workforce tenants.
- Thermo Fisher Scientific — life sciences (1.5 miles)
- Farmers Insurance Exchange — insurance (1.6 miles) — HQ
- Occidental Petroleum — energy (13.8 miles) — HQ
- Charter Communications — telecom (14.9 miles)
- AECOM — engineering & infrastructure (14.9 miles) — HQ
This 40-unit, 1972-vintage asset sits in a neighborhood with strong occupancy and a deep renter base, supporting durable leasing. Elevated neighborhood rents relative to national benchmarks, coupled with a high renter-occupied share of housing units, point to consistent demand. Within a 3-mile radius, households have grown and are projected to expand further, which supports a larger tenant base and ongoing absorption. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends remain above national norms, strengthening the case for steady cash flow.
Given its older vintage versus nearby stock, the property presents value-add potential through unit upgrades and system modernization to compete against newer product and capture premium rents. Elevated ownership costs in the area tend to sustain reliance on rental housing, aiding retention and lease-up. Investors should still plan for affordability pressure monitoring and targeted lease management as rents track above many U.S. neighborhoods.
- Strong neighborhood occupancy with investor-friendly stability signals
- High renter-occupied housing share supports deep tenant demand
- 1972 vintage enables value-add via renovations and building systems updates
- Elevated ownership costs reinforce rental reliance and lease retention
- Risk: Affordability pressure and competitive product require proactive lease management