| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 42nd | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7238 Canby Ave, Reseda, CA, 91335, US |
| Region / Metro | Reseda |
| Year of Construction | 2012 |
| Units | 98 |
| Transaction Date | 2011-06-14 |
| Transaction Price | $1,554,015 |
| Buyer | CANBY WOODS LP |
| Seller | BIXEL HOUSE |
7238 Canby Ave Reseda CA Multifamily Investment
Neighborhood occupancy sits in the mid-90s and renter concentration is deep, supporting leasing stability for professionally managed assets, according to WDSuite’s CRE market data.
Reseda’s Urban Core location offers everyday convenience and steady renter demand. The neighborhood carries a B rating and ranks 666 out of 1,441 Los Angeles metro neighborhoods — above the metro median — signaling balanced fundamentals for long‑term holders. Restaurants and daily needs are close by, with dining density strong (96th percentile nationally) and grocery and pharmacy access also high, while parks and cafes are less concentrated. Average school ratings are mixed around midpack, which investors should factor into marketing and tenant mix strategy.
For investors underwriting income durability, neighborhood occupancy is 94.3% and the share of housing units that are renter‑occupied is 56.7%. Together, these indicators point to a substantial tenant base and support for consistent lease‑up under typical market conditions. Neighborhood per‑unit NOI benchmarks sit in the 81st percentile nationally, suggesting operating performance is competitive versus peer locations, based on CRE market data from WDSuite.
Ownership remains a high‑cost option here (home values rank in the 92nd percentile nationally and value‑to‑income in the 96th), which reinforces reliance on multifamily rentals and can aid tenant retention. At the same time, a rent‑to‑income ratio near 0.28 indicates manageable affordability pressure relative to many coastal submarkets, helping support renewal probabilities and pricing discipline.
Within a 3‑mile radius, household counts have grown even as overall population edged lower, and projections indicate further increases in households alongside smaller average household sizes. Rising median incomes historically and in the outlook expand the effective renter pool and bolster demand for well‑located, professionally managed apartments.
Safety indicators compare favorably in a regional and national context. The neighborhood’s crime rank is 327 out of 1,441 Los Angeles metro neighborhoods, which is competitive among LA neighborhoods, and national comparisons place the area around the 77th percentile for overall safety. Violent incidents benchmark around the 61st percentile nationally and property incidents near the national middle, with WDSuite data indicating notable year‑over‑year declines across both categories. As always, investors should apply block‑level diligence during site tours and underwriting.
The area draws from diversified employment nodes that help sustain renter demand and commute convenience, including life sciences, insurance, telecom, energy, and entertainment employers listed below.
- Thermo Fisher Scientific — life sciences (3.8 miles)
- Farmers Insurance Exchange — insurance (4.1 miles) — HQ
- Charter Communications — telecommunications (10.9 miles)
- Occidental Petroleum — energy (11.2 miles) — HQ
- Live Nation Entertainment — entertainment (11.8 miles) — HQ
Built in 2012, the 98‑unit property at 7238 Canby Ave offers newer‑vintage competitive positioning versus the neighborhood’s predominantly older stock, with average unit sizes around 842 square feet supporting livability and rentability. The surrounding Reseda neighborhood shows mid‑90s occupancy and a majority renter‑occupied housing mix, indicating a sizable tenant base and support for stable leasing. Elevated ownership costs in Los Angeles further sustain multifamily demand, while neighborhood NOI benchmarks are strong by national standards.
Within a 3‑mile radius, household growth and rising incomes expand the addressable renter pool even as average household sizes trend lower. According to commercial real estate analysis from WDSuite, rents have trended upward and are projected to continue rising locally, which, combined with the asset’s newer construction, suggests potential to balance rent growth with selective upgrades and prudent expense management. Investors should still plan for mid‑life system maintenance typical for 2010s assets and monitor demand sensitivity tied to school quality and limited park/cafe density.
- Newer 2012 vintage offers competitive positioning versus older neighborhood stock, with potential to command stronger rents and lower near‑term CapEx.
- Mid‑90s neighborhood occupancy and 56.7% renter‑occupied housing support a deep tenant base and leasing stability.
- High‑cost ownership market reinforces reliance on rentals, aiding retention and pricing power when operations are well executed.
- Household growth and rising incomes within 3 miles expand demand for well‑managed apartments.
- Risks: mixed school ratings and limited parks/cafe density may influence unit mix and marketing; plan for 2010s system maintenance and market‑rate affordability management.