| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6941 Owensmouth Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 2007 |
| Units | 48 |
| Transaction Date | 2004-09-14 |
| Transaction Price | $296,500 |
| Buyer | LOS ANGELES COMMUNITY DESIGN CENTER |
| Seller | FREETHY GLEN ROBERT |
6941 Owensmouth Ave Canoga Park Multifamily Investment
Renter demand is supported by a high renter-occupied share locally and elevated ownership costs in the neighborhood, according to WDSuite’s CRE market data. Expect steady leasing interest from workforce households given the Urban Core location and proximity to major employers.
The neighborhood around 6941 Owensmouth Ave is rated B+ and ranks 451 among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, placing it in the competitive range locally. Occupancy in the neighborhood is 93.5% (above the national midpoint), which helps support income stability for multifamily assets versus weaker submarkets, per CRE market data from WDSuite.
Livability is anchored by strong daily conveniences: grocery, restaurant, cafe, and pharmacy densities test in high national percentiles, while park access is limited. Average school ratings are lower than metro norms, which can affect family-oriented leasing strategies, but the broader amenity mix provides day-to-day convenience valued by renters.
Tenure patterns indicate depth in the renter pool: about 84% of neighborhood housing units are renter-occupied. Within a 3-mile radius, renters represent roughly 53% of housing units, reinforcing a sizable base of potential tenants and supporting renewal velocity.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue increasing, while household sizes trend slightly smaller. Together, this points to a larger tenant base and steady demand for professionally managed apartments. Elevated home values relative to incomes (high national percentile for value-to-income) signal a high-cost ownership market, which tends to sustain multifamily demand and supports lease retention.
Vintage context matters: neighborhood stock skews older (average 1976), while the subject’s 2007 construction is newer than much of the competitive set. That typically translates to stronger curb appeal and fewer near-term capital items versus older assets, though investors should still budget for system updates as the property ages.
Safety trends compare favorably in a regional and national context. The neighborhood’s overall crime profile sits around the 77th national percentile (safer than many areas nationwide). Within the Los Angeles-Long Beach-Glendale metro, it is in the top quartile among 1,441 neighborhoods, indicating comparatively better safety conditions than most peers.
Category details suggest mixed but positive signals: violent-offense metrics are better than national averages (around the low-60s percentile nationally), while property-offense levels are closer to national midrange. Recent year-over-year readings show sharp declines in both violent and property offenses, according to WDSuite, which supports a constructive near-term view while acknowledging that safety can vary block-to-block and should be confirmed through on-the-ground diligence.
Proximity to major employers supports commuter convenience and helps backfill units during turns. Nearby employment anchors include Farmers Insurance Exchange, Thermo Fisher Scientific, Occidental Petroleum, AECOM, and Live Nation Entertainment.
- Farmers Insurance Exchange — insurance (0.8 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.3 miles)
- Occidental Petroleum — energy (13.1 miles) — HQ
- AECOM — engineering & infrastructure (14.2 miles) — HQ
- Live Nation Entertainment — entertainment (14.4 miles) — HQ
This 2007 multifamily asset competes well against an older local stock base (average 1976), offering relative appeal and potentially lower near-term capital exposure. Neighborhood occupancy sits in the low-90s with a high renter-occupied share, and elevated ownership costs in the area tend to reinforce reliance on rentals — supportive of leasing stability and pricing power through typical cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, recent and projected increases in households, alongside slightly smaller household sizes, point to a gradually expanding renter pool. Investors may find additional upside via targeted value-add or modernization as the building ages into its next lifecycle, while managing rent-to-income affordability pressure to sustain renewal rates.
- 2007 vintage outcompetes older neighborhood stock, with potential capex efficiency and curb appeal advantages.
- High local renter concentration and steady neighborhood occupancy support leasing stability.
- Expanding 3-mile household base and smaller household sizes bolster multifamily demand over time.
- Elevated ownership costs sustain rental demand and can aid retention and pricing discipline.
- Risk: rent-to-income pressure requires careful lease management to protect collections and renewals.