| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 35th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7255 Independence Ave, Canoga Park, CA, 91303, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1985 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7255 Independence Ave Canoga Park Multifamily Property
This 65-unit property benefits from neighborhood occupancy rates above 97%, supported by strong rental demand in the Los Angeles metro according to CRE market data from WDSuite.
Located in Canoga Park's Urban Core district, this neighborhood ranks in the 83rd percentile nationally for housing metrics among 1,441 metro neighborhoods. The area maintains a 97.5% occupancy rate with notable rent growth trends, reflecting stable demand fundamentals in the broader Los Angeles-Long Beach-Glendale market.
Demographics within a 3-mile radius show 53.4% of housing units are renter-occupied, creating a substantial tenant base of over 69,000 households. The median household income of $92,805 has grown 32.9% over five years, while contract rents increased 29.1% during the same period. Forecasts indicate continued household growth of 35.7% through 2028, expanding the renter pool to support occupancy stability.
Built in 1985, this property aligns with the neighborhood's average construction year of 1987, suggesting consistent building stock without immediate capital expenditure pressures. The rent-to-income ratio of 0.23 indicates manageable affordability for area tenants, while median home values of $678,166 reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
Amenity access includes adequate grocery and pharmacy density, though the area shows limited cafe and park availability. The neighborhood's restaurant density ranks in the 95th percentile nationally, supporting tenant appeal. However, school ratings average 1.0 out of 5, which may influence family renter segments and should be considered in tenant targeting strategies.
The neighborhood demonstrates favorable safety trends, ranking in the 83rd percentile nationally for crime metrics among 1,441 Los Angeles metro neighborhoods. Property offense rates have declined significantly by 87.1% year-over-year, while violent crime rates dropped 97.2%, indicating positive momentum in public safety conditions.
Current property offense rates of approximately 99 incidents per 100,000 residents and violent crime rates of 11.2 per 100,000 residents compare favorably to urban core averages. These improving safety metrics support tenant retention and can contribute to stable occupancy rates, though investors should monitor ongoing trends as part of routine market analysis.
The property benefits from proximity to established corporate employers, with Farmers Insurance Exchange headquarters located within 1.4 miles and multiple Thermo Fisher Scientific facilities nearby, providing workforce housing opportunities for area employees.
- Farmers Insurance Exchange — insurance headquarters (1.4 miles) — HQ
- Thermo Fisher Scientific — life sciences (1.7 miles)
- Thermo Fisher Scientific — life sciences (2.4 miles)
- AECOM — engineering services (14.1 miles) — HQ
- Live Nation Entertainment — entertainment (14.1 miles) — HQ
This 65-unit property constructed in 1985 presents stable fundamentals within a neighborhood maintaining 97.5% occupancy rates and ranking in the 83rd percentile nationally for housing metrics. The area's demographic profile shows household income growth of 32.9% over five years, while forecasts indicate 35.7% household growth through 2028, expanding the tenant base. According to commercial real estate analysis from WDSuite, these trends support sustained rental demand in the competitive Los Angeles metro.
The property's 1985 vintage aligns with neighborhood norms, suggesting manageable capital planning requirements while offering potential value-add opportunities through targeted improvements. With 53.4% of area housing units renter-occupied and median home values reinforcing rental market dynamics, the fundamentals support long-term occupancy stability, though investors should monitor school quality impacts on family tenant segments.
- Neighborhood occupancy rates above 97% with strong rental demand trends
- Forecast household growth of 35.7% through 2028 expanding tenant base
- Property vintage offers value-add potential without immediate capital pressure
- Proximity to major employers including Farmers Insurance headquarters
- Risk consideration: Below-average school ratings may limit family renter appeal