| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7000 Vassar Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1988 |
| Units | 39 |
| Transaction Date | 1996-02-01 |
| Transaction Price | $3,028,000 |
| Buyer | WILMINGTON TRUST COMPANY |
| Seller | VASSAR COURT APARTMENTS |
7000 Vassar Ave Canoga Park Multifamily Investment
Neighborhood-level data points to a deep renter base and steady occupancy, according to WDSuite s CRE market data. High renter concentration supports demand durability, while proximity to daily amenities strengthens leasing appeal.
Located in Canoga Park within the Los Angeles metro, the property benefits from an Urban Core setting with a B+ neighborhood rating. Amenity access is a clear strength: the area ranks 180th among 1,441 metro neighborhoods, placing it in the top quartile locally and strong nationally (grocery, restaurants, pharmacies). This density of daily needs tends to support leasing velocity and retention for multifamily assets.
The neighborhood s renter-occupied share is high, indicating a deep tenant base and consistent multifamily demand. At the same time, occupancy in the neighborhood has held in the low-to-mid 90% range, a sign of stable absorption and pricing power through typical cycles based on CRE market data from WDSuite. Median home values are elevated for the region, which generally reinforces renter reliance on multifamily housing and can support lease retention.
Vintage context matters for competitive positioning. With an average neighborhood construction year around 1976, a 1988 asset can compete well versus older stock, though investors should still plan for system modernization and selective upgrades to sustain rentability. This balance often supports value-add execution without full repositioning risk.
Within a 3-mile radius, population and household counts have grown recently and are projected to continue expanding, pointing to a larger tenant base over time. Forecasts also show smaller average household sizes, which can favor apartment demand. Together with above-median neighborhood housing fundamentals, these dynamics suggest durable renter demand and support for occupancy stability.
Safety trends compare favorably at the neighborhood level. Relative to 1,441 Los Angeles-area neighborhoods, the crime profile sits in a competitive tier, and nationally the area falls in the upper ranks for safety. Recent year-over-year estimates indicate notable declines in both violent and property offenses, a positive directional trend for renter sentiment and retention.
As with any urban submarket, conditions can vary by block and over time. Investors should underwrite to neighborhood-level patterns rather than isolated incidents and monitor trend data alongside local management insights.
The immediate area draws from a diverse employment base spanning insurance, life sciences, energy, engineering, and entertainment a mix that supports workforce housing demand and commute convenience for renters. Key nearby employers include Farmers Insurance Exchange, Thermo Fisher Scientific, Occidental Petroleum, and AECOM.
- Farmers Insurance Exchange insurance (0.9 miles) HQ
- Thermo Fisher Scientific life sciences (1.4 miles)
- Thermo Fisher Scientific life sciences (2.0 miles)
- Occidental Petroleum energy (13.3 miles) HQ
- AECOM engineering & infrastructure (14.4 miles) HQ
7000 Vassar Ave is a 39-unit 1988-vintage multifamily asset in Canoga Park, positioned to benefit from a large renter pool and steady neighborhood occupancy. According to CRE market data from WDSuite, the surrounding area shows strong amenity access and a high share of renter-occupied housing units, both supportive of demand durability and lease retention. The property s vintage is newer than much of the local stock, which can offer a competitive edge with targeted renovations and system updates rather than full-scale repositioning.
Within a 3-mile radius, recent and projected gains in households point to renter pool expansion, while elevated for-sale housing costs in the area typically reinforce reliance on multifamily options. Investors should account for rent-to-income affordability pressure in underwriting and for local school quality variations, but overall neighborhood fundamentals remain conducive to occupancy stability for well-managed assets.
- Large renter base and steady neighborhood occupancy support leasing stability
- 1988 vintage offers value-add potential versus older nearby stock
- Strong amenity access (grocers, restaurants, pharmacies) underpins day-to-day convenience
- High ownership costs in the area reinforce multifamily demand and retention
- Risks: rent-to-income pressure and uneven school ratings require careful lease and expense management