| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 54th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6630 Independence Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1973 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6630 Independence Ave Canoga Park Multifamily Investment
This 39-unit property sits in a neighborhood with 95.5% occupancy and strong rental demand fundamentals. Commercial real estate analysis from WDSuite shows the area ranks in the top quartile nationally for housing metrics among 1,491 metro neighborhoods.
The Canoga Park neighborhood demonstrates solid fundamentals for multifamily investors, with 95.5% occupancy rates and 64.7% of housing units occupied by renters. This rental share ranks in the 96th percentile nationally, indicating strong tenant demand in an established rental market. The area's median contract rent of $1,759 has grown 55% over five years, while maintaining stable occupancy levels.
Built in 1973, this property aligns with the neighborhood's average construction year of 1968, suggesting potential value-add opportunities through strategic renovations and unit upgrades. The older vintage presents investors with capital expenditure planning considerations alongside renovation upside potential in a market where rents have demonstrated consistent growth.
Demographics within a 3-mile radius show a population of 207,633 with median household income of $95,919, supporting rental affordability at current market rates. The area maintains strong employment proximity, with 40.2% of residents in prime working age (35-64 years). Forecasts indicate household growth of 35% over five years, expanding the potential tenant base and supporting long-term occupancy stability.
Local amenities include 2.29 grocery stores and childcare centers per square mile, ranking in the 85th and 94th percentiles nationally respectively. However, the neighborhood lacks parks and cafes, which may influence tenant retention strategies. The overall neighborhood rating of B+ reflects balanced fundamentals across housing, demographics, and local infrastructure.
Safety metrics show mixed performance relative to regional standards. Property crime rates have declined significantly, dropping 84.4% year-over-year and ranking in the 98th percentile nationally for crime reduction trends. Current property crime rates of 152.4 incidents per 100,000 residents rank 376th among 1,441 metro neighborhoods, placing the area above the regional median.
Violent crime rates remain low at 11.8 incidents per 100,000 residents, with a dramatic 96.5% decrease over the past year. This improvement trend ranks in the 100th percentile nationally, indicating substantial progress in neighborhood safety conditions. The overall crime rank of 202nd among metro neighborhoods places the area in the top 15% for safety performance.
The property benefits from proximity to major corporate employers, including insurance and technology companies that provide workforce housing demand within commuting distance.
- Farmers Insurance Exchange — insurance headquarters (0.8 miles) — HQ
- Thermo Fisher Scientific — life sciences (0.9 miles)
- Thermo Fisher Scientific — life sciences (2.9 miles)
- Occidental Petroleum — energy headquarters (12.4 miles) — HQ
- AECOM — engineering services headquarters (13.5 miles) — HQ
This 39-unit property presents value-add potential in a stable rental market with 95.5% neighborhood occupancy and strong demographic support. Built in 1973, the vintage allows for strategic renovations to capture rent growth in a submarket where contract rents have increased 55% over five years. The 64.7% rental occupancy share, ranking in the 96th percentile nationally, demonstrates sustained tenant demand.
According to CRE market data from WDSuite, the neighborhood's B+ rating reflects balanced fundamentals across housing and demographics. Forecast household growth of 35% over five years supports long-term absorption, while proximity to major employers like Farmers Insurance Exchange headquarters provides workforce housing appeal. The area's median household income of $95,919 supports current rental rates with room for strategic positioning.
- High rental demand with 95.5% neighborhood occupancy and 64.7% renter-occupied units
- Value-add opportunity through renovations in market with 55% rent growth over five years
- Proximity to major employers including Farmers Insurance Exchange headquarters
- Forecast household growth of 35% supports long-term tenant base expansion
- Risk consideration: 1973 vintage requires capital expenditure planning for building systems