| 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 | 1985 |
| Units | 100 |
| Transaction Date | 2000-03-09 |
| Transaction Price | $6,962,000 |
| Buyer | DLGP INDEPENDENCE LLC |
| Seller | INDEPENDENCE PLAZA LLC |
8735 Independence Ave, Canoga Park Multifamily Investment
Neighborhood occupancy has been strong and trending higher, supporting stable leasing dynamics for this asset, according to WDSuite’s CRE market data. Elevated ownership costs in Los Angeles further reinforce renter demand in Canoga Park.
Situated in Canoga Park within the Los Angeles metro, the neighborhood carries a B+ rating and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 410 out of 1,441). Investor takeaways center on durable renter demand: neighborhood occupancy is high and above national norms, with stability improving over the past five years per WDSuite’s CRE market data. Note that these are neighborhood metrics, not property-level performance.
Renter concentration is substantial, with a majority of housing units renter-occupied in the neighborhood. This deepens the tenant base for multifamily and supports occupancy stability across cycles. Median contract rents in the neighborhood sit well above the national median (upper-national-percentile positioning), and five-year rent growth has been meaningful, indicating pricing power when paired with careful lease management.
Livability drivers are a positive contributor: neighborhood amenity access tests strong nationally for groceries, childcare, pharmacies, and restaurants, which can aid resident retention. Average school ratings track modestly above national norms. Local park access is thinner within the immediate neighborhood, so on-site open space and nearby recreational alternatives may be relevant to resident appeal and leasing.
Vintage considerations: the property was built in 1985, which is slightly newer than the neighborhood’s average construction year. This generally supports competitive positioning versus older stock in Canoga Park, while still warranting selective system upgrades or value-add improvements to modernize finishes and common areas.
Three-mile demographic aggregates indicate modest recent population growth alongside a notable increase in households and a declining average household size. Looking ahead, forecasts show households continuing to rise even as total population may edge down, implying smaller households and a larger renter pool over time — a constructive setup for multifamily demand and lease-up continuity.
Ownership costs in the neighborhood are elevated relative to incomes on a national basis, placing the area among the higher-cost ownership markets. For investors, this tends to sustain reliance on rental housing and can support pricing power, while the neighborhood’s rent-to-income dynamics suggest ongoing affordability pressure that should be managed through renewal strategy and amenity alignment.
Neighborhood safety trends compare favorably at the national level, with overall crime positioning in the higher national percentiles (safer than most neighborhoods nationwide). Within the Los Angeles metro context, WDSuite data places the area competitively relative to peer neighborhoods.
Recent year-over-year estimates indicate notable declines in both violent and property offenses at the neighborhood level. While crime can vary by block and over time, the direction of change has been constructive, according to WDSuite’s CRE market data. These statements reflect neighborhood patterns and should not be interpreted as property-specific risk.
Nearby employers span life sciences, insurance, media, engineering, and energy, supporting a diversified employment base and commute convenience that can aid leasing and retention for workforce and mid-income renters.
- Thermo Fisher Scientific — life sciences (2.1 miles)
- Farmers Insurance Exchange — insurance (3.1 miles) — HQ
- Charter Communications — telecommunications (14.3 miles)
- Occidental Petroleum — energy (14.4 miles) — HQ
- Live Nation Entertainment — entertainment (15.3 miles) — HQ
8735 Independence Ave offers 100 units in a neighborhood with historically strong renter demand and high occupancy, according to CRE market data from WDSuite. Elevated ownership costs in Los Angeles and a neighborhood renter-occupied share above the national norm underpin a deep tenant base, while three-mile demographics point to rising household counts and smaller household sizes — dynamics that typically support multifamily absorption and lease retention.
Built in 1985, the asset is slightly newer than the local average, providing a competitive edge versus older stock with potential to capture value through targeted renovations and systems modernization. Neighborhood rents sit in upper national percentiles with solid five-year growth, suggesting pricing power when balanced against rent-to-income considerations and renewal strategy. Overall, the location’s amenity access and diversified nearby employment further enhance leasing resilience through cycles.
- High neighborhood occupancy and sizable renter base support stable demand
- 1985 vintage with value-add and systems-upgrade potential versus older comparables
- Upper-percentile neighborhood rents and strong amenity access aid retention and pricing power
- Three-mile household growth and smaller household sizes point to a larger renter pool
- Risks: affordability pressure (rent-to-income), thinner local park access; manage via renewal strategy and on-site amenities