| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8555 Independence Ave, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1979 |
| Units | 29 |
| Transaction Date | 2018-05-11 |
| Transaction Price | $5,500,000 |
| Buyer | Ying Zhang |
| Seller | Peter Wang |
8555 Independence Ave Canoga Park Multifamily Investment
Neighborhood occupancy is competitive for Los Angeles, and renter concentration supports depth of demand, according to WDSuite’s CRE market data. Elevated ownership costs in the area tend to sustain reliance on rentals, reinforcing stability for well-managed assets.
Situated in Canoga Park’s Urban Core, the property benefits from a neighborhood rated B+ with occupancy that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (395th out of 1,441). This points to steady leasing and reduced downtime relative to many metro peers, with a renter-occupied share above the metro median (348th of 1,441), indicating a deeper tenant base for multifamily operators.
Daily needs are well covered: grocery and pharmacy availability rank in the higher national percentiles, and cafés and restaurants are also above national averages. The trade-off is limited park space within the immediate neighborhood, so on-site common areas or nearby private amenities can matter for retention. Schools average around mid-tier locally (competitive nationally), aligning with a family-capable but not school-driven renter profile.
Home values are elevated versus national norms and rank near the top among U.S. neighborhoods, a high-cost ownership backdrop that tends to keep more households in the rental market and can support pricing power for well-positioned communities. At the same time, the neighborhood’s rent-to-income profile signals some affordability pressure; operators often balance renewal growth with retention to sustain occupancy.
Within a 3-mile radius, recent years show modest population growth alongside an increase in households, and projections call for more households even as average household size trends lower. This shift translates to a larger pool of renting households over time, which typically supports occupancy stability and demand for a range of unit sizes. Based on CRE market data from WDSuite, operating performance indicators such as NOI per unit sit in the top third nationally, suggesting relative income durability for comparable assets.
Safety trends are favorable in a comparative sense: the neighborhood ranks in the safer tier both nationally (82nd percentile) and within the Los Angeles-Long Beach-Glendale metro (186th of 1,441, which is top quartile among metro neighborhoods). For investors, this positioning generally supports leasing velocity and tenant retention versus less secure areas.
According to WDSuite’s CRE market data, estimated property and violent offense rates have declined materially over the most recent year measured. While crime can vary by block and over time, the broader neighborhood trend provides a constructive backdrop for long-term operations.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants, including Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Occidental Petroleum, and AmerisourceBergen.
- Thermo Fisher Scientific — life sciences (2.0 miles)
- Farmers Insurance Exchange — insurance (2.9 miles) — HQ
- Charter Communications — telecommunications (14.2 miles)
- Occidental Petroleum — energy (14.3 miles) — HQ
- AmerisourceBergen — pharmaceuticals distribution (14.7 miles)
8555 Independence Ave is a 29-unit asset positioned in a renter-heavy Los Angeles submarket where neighborhood occupancy is competitive among metro peers and ownership costs are high by national standards. These dynamics, combined with broad amenity coverage and proximity to major employers, support durable renter demand and lease-up efficiency. According to CRE market data from WDSuite, the neighborhood’s operating profile compares favorably at a national level, reinforcing the case for income stability when assets are managed to local affordability realities.
Investor focus should balance demand advantages with practical considerations. Limited park access in the immediate neighborhood places a premium on on-site features and walkable services, and the rent-to-income profile suggests careful renewal management to protect retention. Still, expanding household counts within 3 miles and a strong employment corridor point to a sustainable tenant base over the long term.
- Competitive neighborhood occupancy and renter concentration support stable leasing
- High-cost ownership market sustains rental reliance and pricing power for quality units
- Within 3 miles, more households and employer proximity reinforce a durable tenant base
- Operating profile compares favorably nationally, per WDSuite’s CRE market data
- Risks: limited park access and affordability pressure require thoughtful amenity and renewal strategies