| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 66th | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10400 Canoga Ave, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1989 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10400 Canoga Ave Chatsworth Multifamily Investment
This 43-unit property built in 1989 sits in a neighborhood with 98.2% occupancy rates and strong rent growth, supported by a stable renter base in the Los Angeles metro.
The Chatsworth neighborhood ranks in the top quartile nationally for housing metrics, with occupancy rates at 98.2% compared to typical metro levels. Median contract rents of $2,076 have grown 20.5% over five years, reflecting sustained demand in this Urban Core location. The area maintains a 36.8% rental share among housing units, providing a consistent tenant base for multifamily properties.
Demographics within a 3-mile radius show a population of approximately 90,848 with median household income of $110,014. The income profile supports rental demand, with 39.3% of households earning over $100,000 annually. Projected household growth of 40.6% through 2028 indicates expanding renter pools, while forecast median income increases of 41.9% suggest strengthened tenant payment capacity.
Built in 1989, this property aligns with the neighborhood's average construction vintage of 1979, indicating established building stock. The area ranks highly for amenities, with 3.38 grocery stores per square mile and strong school ratings averaging 4.0 out of 5. The 99th percentile ranking for childcare density supports family-oriented rental demand, while restaurant and retail access enhances tenant retention potential.
Home values averaging $744,617 with 37.7% five-year appreciation create ownership barriers that sustain rental demand. The rent-to-income ratio of 0.22 indicates manageable affordability for current income levels, though investors should monitor renewal rates as household formation patterns evolve in this mature submarket.
The neighborhood demonstrates strong safety metrics relative to the Los Angeles metro, ranking 21st among 1,441 metro neighborhoods for overall crime performance and achieving the 90th percentile nationally. Property offense rates have declined significantly, dropping 91.6% year-over-year to 73 incidents per 100,000 residents, placing the area in the 99th percentile for crime reduction trends.
Violent crime rates are particularly low at 2.8 incidents per 100,000 residents, ranking 24th metro-wide and in the 88th percentile nationally. The 98.9% year-over-year decline in violent offenses reinforces the area's improving safety profile. These trends support tenant retention and property values, though investors should continue monitoring local crime data as part of ongoing asset management.
The Chatsworth area benefits from proximity to major corporate employers across life sciences, insurance, and entertainment sectors, supporting workforce housing demand and commute convenience for tenants.
- Thermo Fisher Scientific — life sciences (3.1 miles)
- Farmers Insurance Exchange — insurance HQ (5.1 miles)
- Thermo Fisher Scientific — life sciences (5.6 miles)
- Amerisourcebergen — pharmaceutical distribution (12.5 miles)
- Boston Scientific Neuromodulation — medical devices (13.6 miles)
This 43-unit property built in 1989 benefits from exceptional neighborhood fundamentals, with 98.2% occupancy rates and net operating income averaging $17,218 per unit ranking in the 97th percentile nationally. According to CRE market data from WDSuite, the area demonstrates sustained rental demand through consistent rent growth of 20.5% over five years and strong demographic support from households earning over $100,000 annually.
The property's 1989 vintage offers potential value-add opportunities through targeted renovations while avoiding major structural concerns typical of older stock. Projected household growth of 40.6% through 2028 within the 3-mile radius, combined with forecast income increases of 41.9%, supports long-term occupancy stability and rental rate progression. The neighborhood's top-quartile housing ranking and declining crime rates create a stable operating environment for multifamily assets.
- Exceptional 98.2% neighborhood occupancy with NOI per unit in 97th percentile nationally
- Strong rent growth of 20.5% over five years supported by high-income demographics
- Value-add potential from 1989 construction year with manageable capital improvement needs
- Projected 40.6% household growth through 2028 expanding tenant base
- Risk consideration: Monitor renewal rates as home values remain elevated relative to rents