| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7115 Milwood Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1977 |
| Units | 53 |
| Transaction Date | 2016-07-26 |
| Transaction Price | $8,500,000 |
| Buyer | Nisenbaum Family Trust |
| Seller | Last Property Management Llc, Private Investor, Lotfollah Shokrian, PCraicseh/ uEnqitu aivnadle /nsft |
7115 Milwood Ave Canoga Park Multifamily Investment
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data. Amenity density and a high renter-occupied share support leasing stability for a 50+ unit asset in Los Angeles County.
The property sits in an Urban Core neighborhood with a B+ rating and ranks 451 out of 1,441 within the Los Angeles-Long Beach-Glendale metro, making it competitive among Los Angeles-Long Beach-Glendale neighborhoods. Amenity access is a clear strength: grocery and pharmacy availability are in the top national percentiles, and restaurants are plentiful, supporting daily convenience and lease retention.
For investors, the renter-occupied share of housing units is high at the neighborhood level (84%+), indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy is in the low-90s and above the national median, suggesting generally stable leasing conditions. Median contract rents have risen meaningfully over five years, while NOI per unit performance benchmarks in the top decile nationally reinforce revenue potential based on CRE market data from WDSuite.
Within a 3-mile radius, population has grown modestly over the past five years and households have increased, expanding the local renter pool. Forward-looking estimates indicate households are expected to continue rising even as average household size trends lower, which typically supports absorption and occupancy stability for smaller floorplans. Rising median incomes in the area further underpin rent growth potential, though lease management should consider affordability pressure where rent-to-income ratios run elevated for the metro.
Home values are elevated for the neighborhood relative to national benchmarks, a context that generally sustains reliance on rental options and helps underpin pricing power in professionally managed communities. A watch item is the low average school rating versus national norms, which may influence family-oriented renter segments. Park access is limited locally, but strong retail and service coverage (including childcare and groceries) helps balance overall livability for renters.
Safety indicators are comparatively favorable versus national norms and strong within the metro. The neighborhood’s crime profile is top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, and it sits above the national median for safety. Year over year, both violent and property offense estimates show sharp declines, signaling improving conditions, though property-related activity remains closer to midrange nationally and warrants standard monitoring.
Proximity to diversified employers supports workforce housing demand and commute convenience for renters, with insurance, life sciences, energy, and engineering offices nearby.
- Farmers Insurance Exchange — insurance (1.1 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.5 miles)
- Thermo Fisher Scientific — life sciences (2.3 miles)
- Occidental Petroleum — energy (13.0 miles) — HQ
- AECOM — engineering & infrastructure (14.1 miles) — HQ
This 53-unit asset benefits from a renter-driven neighborhood, strong amenity access, and occupancy that trends above the national median—factors that typically support income durability. Elevated home values in the area reinforce reliance on rental housing, and median rents have grown over five years, aligning with top-decile neighborhood NOI benchmarks nationally.
Within a 3-mile radius, the local tenant base has expanded as households increased, and forecasts point to further household growth alongside smaller household sizes—dynamics that can support absorption of smaller units and stabilize occupancy. According to CRE market data from WDSuite, the neighborhood’s amenity depth and high renter concentration support leasing velocity, while investors should manage for affordability pressure and school quality variability.
- Renter-heavy neighborhood and above-median occupancy support stable leasing
- Elevated home values sustain demand for professionally managed rentals
- Amenity-rich location with strong grocery, pharmacy, and dining coverage
- Expanding household counts within 3 miles bolster the tenant base and absorption
- Risks: affordability pressure (rent-to-income), weaker school ratings, limited parks