| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8735 Independence Ave, Canoga Park, CA, 91304, US |
| Region / Metro | Canoga Park |
| Year of Construction | 1986 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8735 Independence Ave Canoga Park Multifamily Investment
Positioned in a renter-heavy pocket of Canoga Park, the asset benefits from strong neighborhood occupancy and steady tenant demand, according to WDSuite’s CRE market data. 1986 construction offers competitive positioning versus older local stock while leaving room for targeted modernization.
Canoga Park’s neighborhood fundamentals skew favorable for multifamily investors. The area posts a high neighborhood occupancy rate and is competitive among 1,441 Los Angeles–Long Beach–Glendale neighborhoods, with national performance in the top quintile for occupancy. A renter-occupied share around 61% indicates a deep tenant base that can support leasing and renewals, particularly for well-managed communities.
Amenity access is a local strength: grocery, cafe, restaurant, and pharmacy density all rank in the upper national percentiles, supporting daily convenience and neighborhood livability. Public park access is limited, which may require on-site amenity strategies to maintain appeal versus nearby competition.
Schools in the area average about 3.0 out of 5 and sit modestly above the national middle tier (around the 61st percentile), a neutral factor for family-oriented demand. Home values trend elevated (92nd percentile nationally) and the value-to-income ratio is among the highest nationally, which points to a high-cost ownership market; in practice, this tends to reinforce reliance on rental housing and can help sustain multifamily demand.
Demographic statistics aggregated within a 3-mile radius show recent population growth with a larger increase in households, suggesting smaller household sizes and a broader renter pool. Projections indicate households continuing to rise even as total population is expected to edge down, which can still support demand for apartments through more, smaller households and ongoing lease-up needs.
Vintage is slightly newer than the local average (1986 vs. early-1980s), which can be competitive against older stock; investors should still underwrite selective system upgrades and repositioning to meet current renter expectations.
Neighborhood safety trends compare favorably in a regional and national context. Based on WDSuite’s CRE market data, this area places well among 1,441 Los Angeles–Long Beach–Glendale neighborhoods and sits in a higher national percentile, indicating comparatively safer conditions than many neighborhoods across the U.S.
Recent year estimates also show notable declines in both violent and property offense rates. While conditions can vary by block and over time, the directional trend supports renter retention and day-to-day livability relative to broader metro patterns.
Nearby employers span life sciences, insurance, telecom, energy, and entertainment, supporting a diverse employment base and commute convenience that underpins multifamily leasing. The list below highlights major names within a roughly 2–15 mile radius.
- Thermo Fisher Scientific — life sciences (2.1 miles)
- Farmers Insurance Exchange — insurance (3.1 miles) — HQ
- Charter Communications — telecom (14.2 miles)
- Occidental Petroleum — energy (14.4 miles) — HQ
- Live Nation Entertainment — entertainment (15.3 miles) — HQ
8735 Independence Ave aligns with the submarket’s renter-driven dynamics: high neighborhood occupancy, strong amenity coverage, and elevated ownership costs that keep many households in the rental pool. According to CRE market data from WDSuite, the neighborhood’s occupancy performance is competitive among Los Angeles–Long Beach–Glendale peers and top-tier nationally, supporting income stability for well-operated assets.
Constructed in 1986, the property is newer than the local average, suggesting competitive positioning against older buildings while warranting prudent capital planning for modernization. Within a 3-mile radius, households have been increasing and are projected to continue rising even as population growth moderates, implying smaller household sizes and a wider tenant base over time. Key watch items include rent-to-income pressures (around one-third), limited park access, and the need to sustain value through selective upgrades rather than extensive redevelopment.
- Competitive neighborhood occupancy supports leasing stability
- Renter concentration and high-cost ownership bolster demand for apartments
- 1986 vintage offers value-add via targeted modernization and amenity upgrades
- 3-mile household growth indicates a broader tenant base despite slower population growth
- Risks: affordability pressure and limited parks require active lease and amenity strategy