| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 34th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8721 Owensmouth Ave, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1977 |
| Units | 40 |
| Transaction Date | 2008-09-05 |
| Transaction Price | $4,425,000 |
| Buyer | OWENS GARDEN APARTMENTS LLC |
| Seller | OWENS AVE LLC |
8721 Owensmouth Ave Canoga Park Multifamily Investment
This 40-unit property sits in a neighborhood with 97.5% occupancy and 83.3% renter-occupied housing units, according to CRE market data from WDSuite. The area demonstrates rental market depth with strong tenant retention fundamentals.
This Canoga Park neighborhood ranks in the top quartile nationally for housing fundamentals and demonstrates strong rental market characteristics. With 83.3% of housing units renter-occupied—ranking 36th among 1,441 metro neighborhoods—the area provides substantial tenant pool depth. Neighborhood-level occupancy stands at 97.5%, indicating stable absorption and renewal patterns that support consistent cash flow.
Built in 1977, this property aligns with the neighborhood's average construction year of 1979, suggesting opportunities for value-add renovations and modernization to capture rent premiums. The area's median contract rent of $1,663 positions units competitively within the broader Los Angeles market, while demographic data within a 3-mile radius shows household income growth of 34% over five years, supporting tenant retention and rent growth potential.
Local amenities support tenant appeal with 5.8 grocery stores per square mile (97th percentile nationally) and 2.9 childcare facilities per square mile (96th percentile nationally). The area maintains 24.7 restaurants per square mile, ranking in the 97th percentile nationwide. These amenity concentrations enhance tenant satisfaction and reduce turnover risk, while the neighborhood's overall B rating reflects balanced investment fundamentals across housing, demographics, and local infrastructure.
The neighborhood demonstrates improving safety trends with property crime rates declining 92.7% year-over-year, ranking in the top 1% nationally for crime reduction. Current property offense rates of 46.7 per 100,000 residents place the area in the 75th percentile nationally, indicating below-average property crime levels compared to neighborhoods across the country.
Violent crime rates show similar improvement, declining 91.8% year-over-year with current levels at 22.6 per 100,000 residents. While these metrics represent neighborhood-level trends rather than property-specific conditions, the sustained reduction in both property and violent offenses suggests stabilizing community conditions that support tenant retention and property values.
The surrounding area benefits from proximity to major corporate employers, providing workforce housing opportunities for professionals in biotechnology, insurance, and telecommunications sectors.
- Thermo Fisher Scientific — biotechnology and laboratory services (1.5 miles)
- Farmers Insurance Exchange — insurance services (3.0 miles) — HQ
- Thermo Fisher Scientific — biotechnology and laboratory services (3.5 miles)
- Amerisourcebergen — pharmaceutical distribution (14.6 miles)
- Charter Communications — telecommunications (14.9 miles)
This 40-unit property offers stable cash flow potential in a neighborhood with 97.5% occupancy and 83.3% renter-occupied housing units. The 1977 construction vintage presents value-add opportunities through strategic renovations, while the area's median rent of $1,663 provides competitive positioning within the Los Angeles market. Demographics within a 3-mile radius show household income growth of 34% over five years, supporting tenant retention and gradual rent increases.
Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the top quartile nationally for housing fundamentals, with strong amenity density including grocery stores and restaurants in the 97th percentile nationwide. The significant decline in both property crime (92.7% reduction) and violent crime (91.8% reduction) year-over-year suggests improving community stability that enhances long-term investment appeal.
- High neighborhood occupancy at 97.5% supports consistent rental income
- 83.3% renter-occupied housing provides deep tenant pool for lease-up
- 1977 vintage allows for value-add renovations and rent premiums
- Proximity to major employers including Thermo Fisher Scientific and Farmers Insurance
- Risk consideration: Property age requires ongoing capital expenditure planning