| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7007 Alabama Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1977 |
| Units | 24 |
| Transaction Date | 2012-09-10 |
| Transaction Price | $2,600,026 |
| Buyer | WEST CANOGA PROPERTIES LLC |
| Seller | CF NPFS LP |
7007 Alabama Ave Canoga Park Multifamily Investment
Neighborhood rent levels and occupancy trends point to durable renter demand in this Urban Core pocket, according to WDSuite’s CRE market data. Investors should expect steady leasing supported by proximity to jobs and daily amenities.
This Los Angeles-Long Beach-Glendale metro neighborhood carries a B+ rating and performs above the metro median, supported by dense daily-needs retail and services. Grocery and pharmacy access ranks among the stronger clusters locally, while restaurants and cafes are plentiful, helping drive foot traffic and convenience for renters. School ratings trend below metro norms, which may modestly affect family-oriented demand and lease retention strategies.
Renter-occupied concentration is high within the neighborhood, indicating a deep tenant base for multifamily assets and supporting occupancy stability relative to the metro. Within a 3-mile radius, recent population growth and an increase in households point to a larger tenant pool, with forward-looking projections suggesting additional household gains and a gradual shift toward smaller household sizes. These dynamics typically support absorption and renewal performance rather than heavy lease-up risk.
Home values are elevated for the region and sit in the top decile nationally, reinforcing reliance on rental housing and supporting pricing power for well-positioned assets. At the same time, rent-to-income levels imply some affordability pressure; asset plans should incorporate renewal management and measured rent steps to sustain retention. Neighborhood NOI per unit trends are also competitive nationally, reflecting strong renter demand and operating fundamentals, based on CRE market data from WDSuite.
Parks are limited in the immediate area, which is a livability consideration for some residents, but the broader amenity mix and employment access underpin this submarket’s appeal to renters seeking convenience and commute efficiency.
Neighborhood safety indicators are competitive among Los Angeles metro neighborhoods, landing in the top quartile among 1,441 metro neighborhoods. Nationally, the area trends safer than average overall, with violent incidents aligning above national norms for safety and property offenses closer to the national middle.
Recent data also shows notable year-over-year declines in both violent and property offense rates, signaling an improving local trend. As always, investors should evaluate on-the-ground conditions and property-level measures, but current patterns suggest supportive conditions for multifamily leasing and retention.
Proximity to major employers supports workforce renter demand and retention, with nearby insurance, life sciences, energy, engineering, and entertainment offices offering diverse job bases and commute convenience.
- Farmers Insurance Exchange — insurance (0.9 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 (14.3 miles) — HQ
7007 Alabama Ave is a 24-unit asset built in 1977 in a high-renter neighborhood where daily amenities and job access underpin stable demand. Elevated home values reinforce renter reliance on multifamily housing, while neighborhood occupancy and 3-mile household growth point to depth in the tenant base. According to commercial real estate analysis from WDSuite, local operating fundamentals are competitive versus national benchmarks, supporting a hold or value-add plan focused on unit modernization and revenue management.
The 1977 vintage suggests planning for systems updates and interior refreshes, which can improve positioning against older stock and capture demand supported by elevated ownership costs. Affordability pressures warrant disciplined renewals and measured rent steps; weaker school ratings and limited nearby parks are manageable considerations with the right amenity and service strategy.
- High renter concentration and amenity access support occupancy stability
- Elevated home values reinforce sustained multifamily demand and pricing power
- 1977 vintage provides value-add potential via targeted renovations and system upgrades
- Competitive neighborhood operating metrics versus national benchmarks, per WDSuite
- Risks: affordability pressure, below-average schools, and limited park access call for careful leasing and retention tactics