| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6912 Milwood Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1989 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6912 Milwood Ave Canoga Park Multifamily Investment
Stabilized renter demand in an Urban Core setting supports consistent occupancy, with neighborhood fundamentals competitive among Los Angeles submarkets, according to CRE market data from WDSuite. Newer-than-average vintage for the area provides relative positioning against older stock while leaving room for targeted upgrades.
The property sits in a B+ rated Urban Core neighborhood that is competitive among Los Angeles-Long Beach-Glendale’s 1,441 neighborhoods (ranked 451), signaling solid fundamentals for workforce and market-rate renters. Neighborhood occupancy is 93.5% (above the national median at the 62nd percentile), a constructive backdrop for lease stability, based on CRE market data from WDSuite.
Renter-occupied share is high at the neighborhood level (approximately 84% of housing units), indicating deep tenant demand for multifamily and a broad leasing pool. Median contract rents in the neighborhood sit in the upper national percentiles, and average NOI per unit ranks in the top decile nationally, underscoring income potential where operations are well managed.
Local amenity access is a strength: grocery, restaurants, childcare, and pharmacies all score in very high national percentiles, supporting day-to-day livability and retention. Park access is limited within the immediate neighborhood, which investors should consider for positioning of on-site open space and resident programming. School ratings trend below national norms, which can temper family-oriented appeal but does not typically derail renter demand in urban Los Angeles locations.
Vintage matters: built in 1989 versus a neighborhood average around 1976, the asset is newer than much of the surrounding stock, enhancing competitive positioning against older comparables. Select system refreshes or cosmetic updates may still be warranted over a long hold to maintain rent readiness and support renewal capture.
Demographic statistics within a 3-mile radius point to modest recent population growth with an increase in households and a trend toward smaller household sizes over the forecast horizon. This combination generally expands the renter pool and supports occupancy stability even if population growth moderates.
Ownership costs in the neighborhood are elevated relative to incomes, and the value-to-income ratio sits in a high national percentile. That high-cost ownership environment tends to reinforce reliance on rental housing, while rent-to-income levels suggest some affordability pressure—calling for attentive lease management and renewal strategies.
Safety trends are mixed in context. Nationally, the neighborhood’s overall crime positioning is in the top quartile, indicating it is comparatively safer than many U.S. neighborhoods. Within the Los Angeles-Long Beach-Glendale metro, however, its crime rank (341 out of 1,441 neighborhoods) sits below the metro median, so investors should underwrite prudent security measures typical for urban Los Angeles assets.
Recent trend data from WDSuite show notable year-over-year decreases in both violent and property offense estimates, suggesting improving conditions. As always, use on-the-ground diligence to corroborate trend direction and to gauge building-level needs such as lighting, access control, and partnership with local patrols.
Proximity to diversified employers supports weekday traffic and renter retention, with a mix of insurance, scientific instrumentation, and energy/engineering offices within a commutable radius.
- Farmers Insurance Exchange — insurance (0.9 miles) — HQ
- Thermo Fisher Scientific — scientific equipment & services (1.2 miles)
- Thermo Fisher Scientific — scientific equipment & services (2.5 miles)
- Occidental Petroleum — energy corporate offices (12.8 miles) — HQ
- AECOM — engineering & infrastructure services (13.9 miles) — HQ
This 40-unit 1989-vintage asset benefits from a renter-heavy neighborhood, strong day-to-day amenities, and occupancy levels that are above national medians. Relative to the area’s older housing stock, the property’s newer construction offers competitive positioning and the potential to capture renewals with selective upgrades over time. According to CRE market data from WDSuite, neighborhood NOI per unit trends in high national percentiles, aligning with an investment case centered on operational execution.
Within a 3-mile radius, households are increasing even as household sizes trend smaller, expanding the tenant base and supporting steady leasing. Elevated ownership costs in the neighborhood typically sustain rental demand, while rent-to-income dynamics warrant disciplined pricing, renewal incentives where appropriate, and resident experience focus to protect retention.
- Renter-heavy neighborhood and above-median occupancy support durable demand
- 1989 construction is newer than local average, aiding competitive positioning
- High-amenity corridor near major employers bolsters leasing and retention
- Elevated ownership costs underpin reliance on rentals and pricing power
- Risks: limited nearby park access, lower school ratings, and affordability pressure require prudent asset management