| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 74th | Best |
| Amenities | 69th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22044 Clarendon St, Woodland Hills, CA, 91367, US |
| Region / Metro | Woodland Hills |
| Year of Construction | 1986 |
| Units | 85 |
| Transaction Date | 2004-01-08 |
| Transaction Price | $7,559,500 |
| Buyer | H & R INVESTMENTS LP |
| Seller | LYONS STEVEN |
22044 Clarendon St Woodland Hills Multifamily Investment
This 85-unit property sits in a high-income neighborhood with median household earnings of $160,264, ranking in the top 5% nationally according to CRE market data from WDSuite.
The Woodland Hills neighborhood ranks 288th among 1,491 metro neighborhoods with an A- rating, placing it in the top quartile for overall investment fundamentals. Built in 1986, this property represents newer construction compared to the neighborhood average of 1963, potentially reducing near-term capital expenditure needs and providing competitive positioning among area assets.
Demographic data within a 3-mile radius shows strong household income metrics, with median earnings of $111,499 and 20% of households earning over $200,000 annually. The area maintains an even tenure split with 50% owner-occupied and 50% renter-occupied housing units, indicating balanced demand for rental housing. Population growth of 6% over the past five years, coupled with projected household increases through 2028, supports expanding renter pool expansion and occupancy stability.
Neighborhood-level occupancy stands at 91.2%, though down 2.4 percentage points over five years, requiring attention to lease retention strategies. Median contract rents of $2,857 rank in the top quartile among metro neighborhoods, reflecting strong pricing power but also suggesting affordability pressure that could impact renewal rates. The area benefits from strong amenity density including 2.18 grocery stores and pharmacies per square mile, ranking in the 85th and 95th percentiles nationally respectively, supporting tenant retention through convenience access.
The neighborhood demonstrates favorable safety trends with property crime rates declining 84.7% year-over-year, ranking 105th among 1,491 metro neighborhoods and placing in the 99th percentile nationally for crime reduction. Current property offense rates of 117 per 100,000 residents rank 290th metro-wide, indicating above-average safety conditions compared to regional peers.
Violent crime rates remain low at 22 incidents per 100,000 residents, with an 83% year-over-year decline that ranks in the 97th percentile nationally for improvement. These downward crime trends support tenant retention and can enhance the property's competitive positioning for lease-ups and renewals.
The area benefits from proximity to major corporate employers, with Thermo Fisher Scientific and Farmers Insurance providing workforce housing demand within 1.5 miles of the property.
- Thermo Fisher Scientific — life sciences (1.0 miles)
- Farmers Insurance Exchange — insurance HQ (1.1 miles)
- Thermo Fisher Scientific — life sciences (3.7 miles)
- Occidental Petroleum — energy HQ (12.1 miles)
- AECOM — engineering & construction HQ (13.3 miles)
This 85-unit property offers exposure to a high-income demographic with strong employment fundamentals, though investors should monitor occupancy trends and affordability dynamics. The neighborhood's top-quartile income ranking and proximity to major corporate employers support rental demand, while the 1986 construction year provides competitive positioning without immediate capital intensity. Population growth of 6% and projected household increases through 2028 indicate expanding renter pool expansion, though declining neighborhood occupancy rates warrant careful lease management.
Commercial real estate analysis from WDSuite shows the area ranking in the 95th percentile nationally for household income, creating a stable tenant base despite elevated rent levels. The significant year-over-year crime reductions and strong amenity access support tenant retention, while the balanced owner-renter split indicates sustainable rental demand without oversaturation.
- High-income demographics with 20% of households earning over $200,000 annually
- Proximity to major employers including Thermo Fisher Scientific and Farmers Insurance headquarters
- 1986 construction provides competitive positioning with reduced near-term capital needs
- Strong amenity access with top-quartile pharmacy and grocery density
- Risk consideration: Declining neighborhood occupancy and elevated rent-to-income ratios require active lease management