| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 49th | Fair |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7240 Corbin Ave, Reseda, CA, 91335, US |
| Region / Metro | Reseda |
| Year of Construction | 1985 |
| Units | 84 |
| Transaction Date | 1998-02-25 |
| Transaction Price | $1,746,500 |
| Buyer | CANFIELD BUILDING LTD PARTNERSHIP |
| Seller | BERGLAS |
7240 Corbin Ave Reseda Multifamily Investment
Neighborhood occupancy trends remain firm and ownership costs are elevated, suggesting durable renter demand near 7240 Corbin Ave, according to WDSuite s CRE market data. Investors may find stable leasing supported by a high-cost ownership market and a deep local renter base.
Reseda s Urban Core setting supports daily-life convenience that renters value. Dining and cafe density ranks in the top quartile nationally, and grocery options also test well above national norms, pointing to walkable essentials and service depth that tends to aid retention. By contrast, park and pharmacy density score low within the immediate neighborhood, so residents may rely on nearby districts for those needs.
The neighborhood s multifamily fundamentals are solid: neighborhood occupancy is 97.4% (top quartile nationally), a signal of demand stability at the neighborhood level rather than this specific property. NOI per unit performance in the area also trends above national medians, indicating operational strength among comparable assets.
Home values in the neighborhood sit well above national levels, creating a high-cost ownership market that tends to sustain reliance on rentals and support pricing power. At the same time, the neighborhood s rent-to-income ratio is comparatively moderate, which can reduce affordability pressure and support lease retention.
Demographics aggregated within a 3-mile radius show relatively steady population levels recently, with households growing and average household size drifting smaller. This shift typically expands the renter pool and supports occupancy stability for well-managed multifamily assets. School ratings in the neighborhood test below national averages, an element to factor into family-driven demand assumptions.
Safety indicators should be interpreted comparatively and over time. Recent estimates place violent offense rates in a higher national safety percentile (safer than most neighborhoods nationwide), and property offense rates also sit above the national median for safety. Year over year, both violent and property offense estimates show meaningful declines, suggesting an improving trend rather than a block-level guarantee.
Investors should anchor underwriting to neighborhood-level patterns and multi-year trends, recognizing that conditions vary by micro-location and property operations. Comparative positioning versus national benchmarks is favorable on recent readings, but prudent on-site diligence remains essential.
Proximity to diversified employers supports a broad worker tenant base and commute convenience, led by life sciences, insurance, energy, telecommunications, and entertainment offices noted below.
- Thermo Fisher Scientific corporate offices (2.5 miles)
- Farmers Insurance Exchange insurance (2.6 miles) HQ
- Occidental Petroleum energy (12.0 miles) HQ
- Charter Communications telecommunications (12.5 miles)
- Live Nation Entertainment entertainment (12.9 miles) HQ
7240 Corbin Ave is an 84-unit, 1985-vintage asset positioned in a neighborhood with strong renter conveniences and historically high occupancy. Elevated home values locally point to a high-cost ownership market that reinforces reliance on multifamily, while a comparatively moderate rent-to-income profile supports retention and steady collections. Nearby employers span life sciences, insurance, energy, and entertainment, broadening the tenant base. Based on commercial real estate analysis from WDSuite, neighborhood occupancy remains above national norms, underscoring demand resilience at the neighborhood level.
Within a 3-mile radius, households have been expanding while household sizes trend smaller, which typically enlarges the renter pool and supports leasing velocity. The 1985 construction suggests competitive positioning versus older stock, with room for targeted value-add (interiors, building systems, curb appeal) to capture demand and maintain pricing power as nearby asking rents trend upward in the data.
- Occupancy strength at the neighborhood level supports stability and lease retention.
- High-cost ownership market sustains multifamily demand and reduces move-outs to ownership.
- Diversified nearby employment base broadens the renter pool and underpins demand.
- 1985 vintage offers value-add and capital planning levers to enhance competitiveness.
- Risks: below-average neighborhood school ratings and limited park/pharmacy density; monitor future population trends and execute tenant-quality screening.