| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 36th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7231 Vassar Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7231 Vassar Ave Canoga Park Multifamily Investment
Renter demand is reinforced by a high neighborhood renter concentration and steady occupancy, according to WDSuite s CRE market data. Positioning in Los Angeles Urban Core supports leasing durability for stabilized multifamily.
The property sits in Canoga Park s Urban Core, a B+ rated neighborhood that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 451 of 1,441). Local amenity density is a relative strength: groceries and restaurants rank in the top percentiles nationally, with childcare and pharmacies also strong. This depth of daily-needs retail typically supports resident retention and consistent foot traffic, while limited park access suggests fewer open-space options nearby.
For renters, the neighborhood skews strongly renter-occupied (renter concentration is among the highest nationally), indicating a deep multifamily tenant base. Neighborhood occupancy is above the national median, supporting income stability at the asset level; median contract rents sit in a higher national bracket, so pricing power exists but should be balanced against household budgets. The rent-to-income profile indicates some affordability pressure, warranting attentive lease management and renewal strategies.
Construction patterns are older on average in the immediate area (1970s vintage norm), while the subject asset s 1993 delivery is newer than much of the surrounding stock this can enhance competitive positioning versus nearby Class B/C assets, though investors should still plan for systems modernization and selective renovations to sustain leasing velocity.
Within a 3-mile radius, demographic data show modest population growth in recent years alongside an increase in households, expanding the potential renter pool. Forward-looking indicators point to further household expansion and rising incomes, which can support rent levels and occupancy, based on commercial real estate analysis from WDSuite.
On broader CRE metrics, neighborhood-level NOI per unit trends sit in a high national bracket, and housing fundamentals rate above the metro median. School ratings trail regional and national norms, which may influence mix and leasing strategy toward workforce and young professional segments rather than family-heavy positioning.
Safety metrics compare favorably at the national level. The neighborhood sits above the national median for overall safety, with violent-offense rates in a stronger national percentile and property-offense rates around the middle of the national distribution. Year-over-year trends indicate meaningful declines in both violent and property offenses, suggesting improving conditions relative to national benchmarks. As always, investors should underwrite block-level variation through on-the-ground diligence and recent comparables.
Nearby employers anchor a diverse workforce across insurance, life sciences, energy, engineering, and entertainment a mix that supports commuter convenience and helps sustain multifamily renter demand in this submarket. The list below highlights key names within typical commuting distance.
- Farmers Insurance Exchange insurance (1.1 miles) HQ
- Thermo Fisher Scientific life sciences (1.7 miles)
- Occidental Petroleum energy (13.5 miles) HQ
- AECOM engineering & infrastructure (14.6 miles) HQ
- Live Nation Entertainment entertainment (14.7 miles) HQ
7231 Vassar Ave offers a 24-unit, 1993-vintage asset positioned in a renter-heavy Urban Core pocket where neighborhood occupancy trends are above the national median and median rents benchmark in a higher national tier. The vintage is newer than much of the surrounding 1970s-era stock, supporting competitive appeal versus older assets while still warranting targeted systems upgrades and common-area refresh to protect rent premiums and leasing speed.
Demand fundamentals are reinforced by a high share of renter-occupied housing locally and amenity depth across groceries, restaurants, childcare, and pharmacies factors that can bolster retention and stabilize collections. Within a 3-mile radius, recent population and household growth, alongside forecasts for further household expansion and income gains, point to a gradually expanding tenant base. According to CRE market data from WDSuite, the neighborhood s income performance and occupancy, coupled with elevated ownership costs in the area, should continue to support multifamily absorption, though elevated rent-to-income levels call for disciplined renewal management.
- Newer 1993 vintage versus local 1970s stock supports competitive positioning with measured capex for systems and finishes.
- Renter-heavy neighborhood and above-median occupancy underpin leasing durability and income stability.
- Strong daily-needs amenity access (groceries, dining, childcare, pharmacies) supports resident convenience and retention.
- 3-mile population and household growth with income gains expands the tenant base and supports rent levels.
- Risk: Higher rent-to-income ratios and limited park access warrant prudent pricing, renewal strategy, and resident engagement.