| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 54th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6831 Independence Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1978 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6831 Independence Ave Canoga Park Multifamily Investment
Neighborhood multifamily fundamentals show solid occupancy and a deep renter base, according to WDSuite’s CRE market data. This positioning supports income stability while offering room for value-add strategy in a high-cost ownership market.
Located in Canoga Park within the Los Angeles metro, the neighborhood posts an estimated 95.5% multifamily occupancy at the neighborhood level, which is above the metro median and stronger than many U.S. neighborhoods. Renter-occupied housing is a sizable share of local units (64.7% at the neighborhood level), pointing to a deep tenant base that can support leasing velocity and retention in typical market cycles.
Amenity access is mixed: grocery, pharmacy, and restaurant density compare well nationally (around the mid-80s percentiles), while parks and cafes are relatively sparse. For investors, this suggests practical day-to-day convenience that supports resident satisfaction, with potential upside for future amenity additions in the submarket.
Ownership costs in the neighborhood are elevated relative to national norms, and neighborhood rents benchmark in the upper tier nationally. Combined with a rent-to-income profile that indicates manageable affordability pressure locally, this backdrop can reinforce renter reliance on multifamily housing and support pricing power when managed carefully.
Within a 3-mile radius, demographics indicate recent population growth with continued increases in households and smaller average household sizes projected. That shift typically expands the renter pool and can support occupancy stability, even if overall population growth moderates. These dynamics, based on CRE market data from WDSuite, frame steady renter demand and a durable leasing base for professionally managed assets.
Relative to the Los Angeles metro, the neighborhood’s crime positioning is in the top quartile among 1,441 neighborhoods, and it also scores stronger than most areas nationwide (higher national percentile indicates safer conditions). Recent WDSuite indicators show sizable year-over-year declines in both property and violent offense estimates, suggesting an improving trend rather than a one-off data point.
Investors should still underwrite property-level security measures and monitor submarket trends, but the comparative standing and improving directionality help contextualize safety risk at the neighborhood level.
Nearby employment anchors include insurance, life sciences, energy, and engineering headquarters and offices that support commuter convenience and help sustain renter demand. Specifically, the area draws from Farmers Insurance Exchange, Thermo Fisher Scientific, Occidental Petroleum, AECOM, and Live Nation Entertainment.
- Farmers Insurance Exchange — insurance (0.93 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.1 miles)
- Occidental Petroleum — energy (12.6 miles) — HQ
- AECOM — engineering & infrastructure (13.7 miles) — HQ
- Live Nation Entertainment — live entertainment (13.8 miles) — HQ
6831 Independence Ave benefits from a neighborhood with above-median metro occupancy and a high renter-occupied share, supporting depth of demand and lease-up durability. Elevated ownership costs relative to income locally further sustain reliance on multifamily rentals, while amenity density is practical for daily needs. Built in 1978, the asset is newer than much of the neighborhood’s older stock, offering competitive positioning versus legacy buildings, though modernization of select systems and finishes may unlock additional value.
Household counts within a 3-mile radius are projected to increase as average household size trends lower, signaling potential renter pool expansion and support for occupancy stability. Based on commercial real estate analysis from WDSuite, this neighborhood also demonstrates solid income performance relative to many U.S. areas, aligning with a long-term hold or targeted value-add approach while acknowledging localized amenity gaps and macro volatility risks.
- Above-median metro occupancy and strong renter concentration support demand depth
- High-cost ownership market sustains renter reliance and pricing power when managed carefully
- 1978 vintage is competitive versus older local stock; value-add and system updates can enhance returns
- 3-mile household growth and smaller household sizes indicate renter pool expansion and leasing support
- Risks: limited parks/cafes nearby; macro demand shifts; capex for modernization and resiliency