| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 83rd | Best |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21616 Califa St, Woodland Hills, CA, 91367, US |
| Region / Metro | Woodland Hills |
| Year of Construction | 1978 |
| Units | 74 |
| Transaction Date | 2018-10-11 |
| Transaction Price | $50,100,000 |
| Buyer | CITY VIEW APARTMENTS AT WARNER CENTER LL |
| Seller | PUR ONYX APARTMENTS LLC |
21616 Califa St Woodland Hills Value-Add Multifamily
High renter demand and a high-cost ownership market in Woodland Hills support leasing durability, according to WDSuite’s CRE market data, with safety and income fundamentals that compare favorably at the neighborhood level.
Situated in Los Angeles County’s Woodland Hills Urban Core, the property benefits from a renter-oriented neighborhood profile and mature infrastructure. Neighborhood occupancy is around the mid‑90% range, indicating stable absorption across cycles, while neighborhood-level NOI per unit trends place the area in the upper tier nationally, reinforcing income resilience across comparable assets.
Livability signals are mixed but investable. Parks per square mile rank near the top among 1,441 Los Angeles metro neighborhoods, offering strong recreational access (99th percentile nationally), and restaurant density lands in a solid national position (85th percentile). Daily services inside the neighborhood boundary are thinner by count (limited groceries, pharmacies, and cafes per square mile), so residents often rely on adjacent corridors for errands—an important consideration for marketing and amenities programming.
Tenure dynamics point to a deep renter pool: roughly half of neighborhood housing units are renter‑occupied, and within a 3‑mile radius, renters make up just over half as well. This breadth of renter-occupied units supports consistent multifamily demand and reduces reliance on in-migration to maintain occupancy.
Demographic conditions within a 3‑mile radius show recent population growth alongside a rising household count, with forecasts calling for additional household increases and a smaller average household size. For investors, this implies gradual renter pool expansion and supports occupancy stability and leasing velocity over time. Elevated home values relative to incomes at the neighborhood level reflect a high-cost ownership market, which typically sustains reliance on multifamily housing and can strengthen pricing power when balanced with resident affordability.
Vintage matters for strategy: built in 1978, the asset is older than the neighborhood average construction year (1984). That age profile can create value‑add potential through interior upgrades, systems modernization, and amenity refreshes, provided capital planning accounts for mid‑life building components.
Neighborhood safety indicators compare favorably in a national context, with overall conditions aligning with the upper deciles nationwide. According to CRE market data from WDSuite, both violent and property offense rates benchmark well versus national peers, and recent year-over-year estimates point to notable declines—supportive of renter retention and leasing stability.
As always, conditions can vary by block and over time. Investors should consider on-the-ground validation and standard risk management measures when underwriting, but current trend data suggests the area performs above national norms for safety.
Proximity to diversified employers underpins workforce housing demand and commute convenience for residents, including roles in life sciences, insurance, energy, engineering, and entertainment that support leasing depth.
- Thermo Fisher Scientific — life sciences offices (0.4 miles)
- Farmers Insurance Exchange — insurance services (0.57 miles) — HQ
- Occidental Petroleum — energy corporate offices (12.13 miles) — HQ
- AECOM — engineering & infrastructure (13.34 miles) — HQ
- Live Nation Entertainment — entertainment corporate offices (13.60 miles) — HQ
The 74‑unit property at 21616 Califa St offers a value‑add angle in a renter-heavy Woodland Hills location with stable neighborhood occupancy and competitive income performance versus national peers. According to CRE market data from WDSuite, neighborhood safety benchmarks in the upper national tiers and park access is a standout, while restaurant density is solid—factors that can support retention. Elevated ownership costs locally tend to reinforce reliance on rentals, benefiting leasing consistency when managed alongside resident affordability.
Built in 1978, the asset is older than the neighborhood average, creating scope for targeted renovations and systems upgrades to enhance positioning against newer stock. Within a 3‑mile radius, population growth and a rising household count indicate a gradually expanding renter base, supporting occupancy stability and measured rent growth potential over the hold, subject to prudent lease management and capital planning.
- Renter depth: roughly half of neighborhood units are renter‑occupied, with a similar share within 3 miles supporting demand durability.
- Stable operations: neighborhood occupancy around the mid‑90% range and competitive NOI per unit trends support income consistency.
- Lifestyle fundamentals: top-tier park access and solid restaurant density aid retention and leasing appeal.
- Value‑add pathway: 1978 vintage enables interior/amenity upgrades and systems modernization to improve competitive positioning.
- Key risks: resident affordability pressure in a high‑cost market and limited neighborhood-scale daily services require careful rent setting and amenity strategy.