| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 45th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8757 Canby Ave, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1985 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | $1,800,000 |
| Buyer | THE KORDA GROUP |
| Seller | FEDERAL NATIONAL MORTGAGE ASSOCIATION |
8757 Canby Ave, Northridge CA Multifamily Investment
Neighborhood occupancy is strong at 96.9%, pointing to durable leasing conditions and a deep renter base in this Los Angeles submarket, according to WDSuite’s CRE market data. Elevated ownership costs nearby help sustain rental demand, supporting stable operations through cycles.
The property sits in an Urban Core neighborhood with an A- neighborhood rating and an overall rank of 347 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it in the top quartile locally. Dining and daily-needs access are a clear strength: restaurants and pharmacies score in the upper national percentiles, and grocery coverage is also high, supporting renter convenience and lease retention.
For investors evaluating demand depth, neighborhood occupancy is 96.9% (above many U.S. areas), and the share of housing units that are renter-occupied is 59.5%, indicating a sizable tenant base for multifamily. Median asking rents at the neighborhood level have grown over the past five years, and the neighborhood’s NOI per unit ranks in the upper tiers locally, reinforcing income stability. In contrast, average school ratings are below national medians, which may temper appeal for some family renters but is often less material for workforce and young professional segments.
Construction vintage in the area averages 1976. With a 1985 build, the subject asset is newer than much of the surrounding stock—typically a competitive advantage versus older comparables—while still warranting targeted modernization and systems planning as part of a value-add or capital-maintenance program.
Demographic statistics within a 3-mile radius show relatively steady household counts over the last five years with modest population softening, suggesting smaller household sizes and a shift toward more, but smaller, households. Forward-looking projections indicate continued increases in households and a lower average household size by 2028, which can expand the renter pool and support occupancy stability. Home values sit in high national percentiles, signaling a high-cost ownership market; this dynamic generally sustains reliance on multifamily housing and can support pricing power, though it also calls for careful lease management where rent-to-income ratios are elevated.
Safety metrics for the neighborhood are competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 420 of 1,441) and sit above many U.S. areas (approximately mid-70s national percentile). Recent trends point to meaningful year-over-year declines in both property and violent offense rates, a positive directional signal for long-term operations. As always, investors should evaluate submarket and property-level measures over time rather than relying on a single year.
Nearby employers span insurance, life sciences, media, and energy, supporting a diversified employment base that underpins renter demand and commute convenience for residents. The list below highlights proximate corporate offices that can aid leasing stability.
- Thermo Fisher Scientific — life sciences (4.9 miles)
- Farmers Insurance Exchange — insurance (5.0 miles) — HQ
- Charter Communications — telecommunications (11.1 miles)
- Radio Disney — media (12.3 miles)
- Occidental Petroleum — energy (12.9 miles) — HQ
This 60-unit, 1985-vintage asset benefits from a neighborhood with elevated occupancy (96.9%) and strong renter concentration, supporting durable cash flow. The property is newer than the local average construction year, offering relative competitiveness versus older stock while still presenting scope for targeted modernization to drive rent positioning and operational efficiency. High home values in the area reinforce renter reliance on multifamily, which can bolster pricing power when managed against rent-to-income considerations.
Household trends within a 3-mile radius point to more households and smaller average household sizes over time, which can widen the tenant base and support steady leasing. According to CRE market data from WDSuite, local amenities test well nationally, further aiding resident retention even as school performance trails national medians.
- High neighborhood occupancy and sizable renter-occupied share support stable leasing
- 1985 vintage is newer than area average, with value-add and modernization upside
- High-cost ownership market sustains multifamily demand and pricing power
- Diversified nearby employers underpin renter demand and retention
- Risks: elevated rent-to-income ratios and below-average school ratings require thoughtful lease and unit-mix strategy