| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7034 Vassar Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1987 |
| Units | 31 |
| Transaction Date | 2011-02-03 |
| Transaction Price | $3,825,038 |
| Buyer | MCB LLC |
| Seller | NEW ECONOMICS FOR WOMAN |
7034 Vassar Ave, Canoga Park Multifamily Investment
Renter demand is supported by a high-cost ownership market and strong neighborhood-level renter concentration, according to WDSuite’s CRE market data. Expect steady occupancy dynamics with room for operational execution rather than outsized rent growth.
Positioned in Canoga Park’s Urban Core, the area offers day-to-day convenience with dense retail and services. Grocery and pharmacy access are competitive among Los Angeles neighborhoods (ranks 60 and 137 out of 1,441, respectively), and restaurants and cafes trend strong on a national basis. Park access is limited (ranked 1,441 of 1,441), so on-site amenities can play a larger role in resident satisfaction.
Neighborhood occupancy currently reflects solid utilization (measured at the neighborhood level), and renter concentration is high (renter-occupied share near the top of the metro at rank 32 of 1,441). This depth of the tenant base supports leasing stability for small and mid-sized assets, while elevated home values and a high value-to-income ratio signal a high-cost ownership environment that tends to sustain multifamily demand.
Within a 3-mile radius, recent population and household growth, alongside projected increases in households and slightly smaller household sizes, point to a gradually expanding renter pool and support for occupancy over time. Median contract rents in the area have risen over the past five years, though the current rent-to-income profile suggests some affordability pressure that calls for thoughtful lease management and product positioning.
For investors conducting multifamily property research, neighborhood performance indicators are constructive: NOI per unit levels rank in the top decile nationally, per WDSuite. School ratings trend lower than regional norms, which may matter for family-oriented tenants, but the amenity mix and transit connectivity within the broader San Fernando Valley underpin day-to-day livability. Vintage in the immediate area averages 1976; this property’s 1987 construction is newer than much of the competitive stock, implying relative positioning advantages with targeted modernization.
Safety indicators compare favorably in a regional and national context. The neighborhood’s crime rank sits in the stronger tier locally (rank 341 among 1,441 Los Angeles metro neighborhoods), and WDSuite places the area around the upper quartile nationally for safety. Recent data also shows notable year-over-year reductions in both violent and property offenses, which supports resident retention and leasing stability when paired with standard on-site security practices.
Proximity to diversified employers supports workforce housing demand and commute convenience, with nearby insurance, life sciences, energy, engineering, and gaming anchors that can underpin leasing and retention.
- Farmers Insurance Exchange — insurance (0.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.5 miles)
- Occidental Petroleum — energy (13.3 miles) — HQ
- AECOM — engineering & infrastructure (14.4 miles) — HQ
- Activision Blizzard — gaming & entertainment (15.1 miles) — HQ
7034 Vassar Ave is a 31-unit asset built in 1987, newer than much of the area’s 1970s-era stock. That vintage can provide a competitive edge versus older buildings while still allowing targeted upgrades to enhance durability and resident experience. Neighborhood-level fundamentals are constructive: high renter concentration supports depth of demand, occupancy is stable at the neighborhood level, and elevated ownership costs in Los Angeles County tend to reinforce reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood’s NOI per unit trends in the top decile nationally, aligning with an investment thesis centered on stable operations and selective value-add.
Within a 3-mile radius, recent population and household growth—and projections for additional household expansion with slightly smaller household sizes—suggest a gradually enlarging tenant base. At the same time, rent-to-income dynamics indicate pockets of affordability pressure, arguing for disciplined pricing, renovations aligned to willingness-to-pay, and attentive retention strategies.
- Newer 1987 vintage versus local 1970s stock supports competitive positioning with targeted modernization
- High renter concentration and stable neighborhood occupancy underpin leasing durability
- Elevated ownership costs in the area sustain multifamily demand and potential pricing power
- Expanding 3-mile household counts and smaller household sizes indicate a larger renter pool over time
- Risks: lower school ratings, limited park access, and affordability pressure warrant prudent capex and lease management