| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7050 Milwood Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1981 |
| Units | 28 |
| Transaction Date | 2003-07-03 |
| Transaction Price | $2,235,000 |
| Buyer | ZANDER DEAN |
| Seller | ESHAGHOFF CHAD M |
7050 Milwood Ave Canoga Park Multifamily Investment
Neighborhood occupancy is solid and renter demand is deep for this 28-unit asset in Los Angeles County, according to WDSuite’s CRE market data, supporting income stability relative to older competing stock.
The property sits in an Urban Core pocket of Canoga Park rated B+, competitive among 1,441 Los Angeles metro neighborhoods (ranked within the top 40%). Amenity density is a strength: groceries, pharmacies, and restaurants are each in the upper tier nationally, indicating daily-needs convenience and support for lease retention. Park access is limited locally, which investors should factor into positioning and resident experience programming.
Renter concentration is very high, with the majority of housing units renter-occupied (top percentile nationally). That depth of the tenant base, coupled with neighborhood occupancy trending above the national median, suggests a broad pool of prospective renters and reasonable backfill potential. Median contract rents in the neighborhood are also in the upper national percentiles, signaling pricing power but requiring attentive leasing and renewal management.
Within a 3-mile radius, population has inched higher in recent years while the number of households has grown faster, and forecasts point to further household gains alongside smaller average household sizes. For multifamily, this dynamic implies a larger tenant base and steady formation of renting households that can support occupancy. Home values are elevated locally versus national norms, a high-cost ownership landscape that tends to sustain reliance on rental housing and can support rent collections.
School ratings in the area are below national averages and should be weighed in family-oriented marketing; however, robust access to childcare and cafes scores in the top national percentiles. Neighborhood NOI per unit benchmarks are strong (upper decile nationally), and, based on WDSuite’s multifamily property research, this submarket’s fundamentals remain attractive compared with many Los Angeles peers.
Relative to neighborhoods nationwide, the area ranks in the upper half for safety, with overall crime standing in the top quartile among 1,441 Los Angeles metro neighborhoods. Recent WDSuite indicators show notable year-over-year declines in both violent and property offense estimates, which supports a constructive near-term outlook without implying block-level conclusions.
Investors should underwrite to submarket-level trends and property-specific security measures, using regional comps to calibrate expectations rather than relying solely on any single-year fluctuation.
Proximity to major employers supports workforce housing demand and commute convenience, including Farmers Insurance Exchange, Thermo Fisher Scientific, Occidental Petroleum, and AECOM.
- Farmers Insurance Exchange — insurance (1.1 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.4 miles)
- Thermo Fisher Scientific — life sciences (2.4 miles)
- Occidental Petroleum — energy (12.9 miles) — HQ
- AECOM — engineering & infrastructure (14.0 miles) — HQ
Built in 1981, the asset is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still presenting value-add opportunities through targeted modernization of interiors and building systems. Neighborhood occupancy sits above the national median and renter concentration is exceptionally high, pointing to a deep tenant base and resilient leasing even as residents face elevated ownership costs.
Amenity-rich surroundings and strong neighborhood-level income benchmarks support rent attainment, while household growth within a 3-mile radius indicates ongoing renter pool expansion. According to commercial real estate analysis from WDSuite, local rents and NOI per unit perform well against national peers, though investors should manage affordability pressure and underwrite conservatively to retention.
- High renter-occupied housing share supports demand depth and occupancy stability
- 1981 vintage offers light-to-moderate value-add potential for competitive differentiation
- Amenity-dense location (strong grocery, pharmacy, dining access) aids leasing and renewals
- Neighborhood NOI and rent levels compare favorably to national benchmarks
- Risks: affordability pressure (higher rent-to-income), limited park access, and below-average school ratings