Canoga Park Apartment Building Sales

Canoga Park Multifamily Market Overview

Canoga Park provides the San Fernando Valley's most accessible entry point for multifamily investors, with the highest average cap rates in the Valley and larger building sizes that offer operational scale. Across 11 closed transactions totaling $35.4M in volume, the LAAA Team has documented an average cap rate of 5.17% and an average price per unit of $186K, with an average building size of approximately 24 units.

The apartment stock along Saticoy Street, Sherman Way, Vanowen Street, and Topanga Canyon Boulevard consists predominantly of 1970s Type V wood-frame garden-style buildings with surface parking, many featuring 20-40 units. These larger buildings offer economies of scale that smaller 4-8 unit properties cannot match, including on-site management and dedicated maintenance.

Canoga Park's proximity to Warner Center, the West Valley's primary office and retail hub anchored by Westfield Topanga and The Village, drives workforce housing demand from service industry and office workers seeking affordable rents close to employment. The planned Metro B Line extension to Warner Center will further strengthen transit connectivity and long-term demand fundamentals. Most buildings fall under the LA RSO for pre-1978 construction.

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