| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6911 Milwood Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1977 |
| Units | 44 |
| Transaction Date | 2002-07-16 |
| Transaction Price | $2,309,000 |
| Buyer | 6911 MILWOOD GARDEN APARMENTS LLC |
| Seller | ISAACSON ROBERT B |
6911 Milwood Ave Canoga Park Multifamily Investment
The property sits in a renter-dominated neighborhood with 84% rental occupancy and strong retail density, positioning it within a stable tenant pool according to WDSuite's CRE market data.
This 44-unit property, constructed in 1977, operates within an established urban core neighborhood that demonstrates consistent rental demand fundamentals. Neighborhood-level occupancy of 93.5% reflects stable tenant retention, though this figure has declined modestly over recent years, suggesting investors should monitor market dynamics and consider strategic improvements to maintain competitive positioning.
The area's retail infrastructure supports tenant convenience with high-density amenities including 10 grocery stores per square mile and extensive restaurant options. Demographics within a 3-mile radius show a household count increase of 4.2% over five years, with projections indicating continued growth of 35.2% through 2028, expanding the potential renter pool. Median household income of approximately $67,000 aligns with workforce housing demand, though the rent-to-income ratio suggests affordability pressures that could impact renewal rates.
The property's 1977 construction year matches the neighborhood average, positioning it for targeted value-add renovations without obsolescence concerns. Home values averaging nearly $600,000 create a significant ownership barrier, potentially supporting rental demand as households remain priced out of homebuying. However, investors should note the area's below-average school ratings, which may limit appeal to family renters seeking educational quality.
The neighborhood ranks 341st out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 77th percentile nationally for safety. Recent trends show substantial improvement, with property offense rates declining 82% year-over-year and violent crime dropping 97%, indicating strengthening security conditions that may support tenant retention and leasing velocity.
While current crime metrics demonstrate positive momentum, investors should consider the area's historical safety profile when evaluating long-term tenant appeal and insurance costs. The improving trend suggests potential for enhanced neighborhood perception, though sustained monitoring of safety conditions remains prudent for portfolio management.
The property benefits from proximity to major corporate employers anchored by insurance and technology sectors, providing workforce housing opportunities for professional tenants within reasonable commuting distance.
- Farmers Insurance Exchange — insurance (0.9 miles) — HQ
- Thermo Fisher Scientific — life sciences & technology (1.2 miles)
- Thermo Fisher Scientific — life sciences & technology (2.5 miles)
- Occidental Petroleum — energy (12.8 miles) — HQ
- AECOM — engineering & construction (13.9 miles) — HQ
The property operates within a fundamentally renter-oriented market with 84% rental occupancy and strong amenity density supporting tenant retention. Demographic projections indicate household growth of 35% through 2028, expanding the tenant base within a 3-mile radius. The 1977 construction vintage aligns with neighborhood norms while offering value-add renovation potential to capture higher rents in a market where median contract rents have increased 61% over five years.
High home values averaging nearly $600,000 create affordability barriers that support rental demand, while proximity to major employers including Farmers Insurance headquarters provides workforce housing appeal. According to CRE market data from WDSuite, the neighborhood's 90th percentile NOI performance suggests strong fundamentals, though investors should monitor occupancy trends and affordability pressures that could impact renewal rates.
- Renter-dominated market with 84% rental occupancy supporting tenant demand
- Projected 35% household growth through 2028 expanding renter pool
- Value-add renovation potential with 1977 construction vintage
- High ownership costs support rental demand fundamentals
- Risk: Rent-to-income pressures and declining occupancy trends require monitoring