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7115 MILWOOD AVE 7115 Milwood Ave • Canoga Park, CA 91303 Offering Memorandum 1

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7115 MILWOOD AVE7115 Milwood Ave • Canoga Park, CA 91303

Offering Memorandum

1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

7115 MILWOOD AVE

Canoga Park, CA

ACT ID ZAA0120797

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02

Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03

Sales Comparables

Rent Comparables

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis

7115 MILWOOD AVE

3

7115 MILWOOD AVE

4

INVESTMENT

OVERVIEW

5

6

7

8

9

10

11

12

13

14

7115 MILWOOD AVE

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Farmers Insurance 6,169

County of Los Angeles 4,143

Lafd 72 3,300

21st Century Insurance and 2,645

21st Century Insurance Company 1,800

A M I Encn-Trzana Rgnal Med Ce 1,800

Los Angeles Pierce College 1,600

Providence Tarzana Medical Ctr 1,300

Kaiser Permanente 1,200

Los Angeles Unified School Dst 1,187

Countrywide Financial Corp 1,100

Boeing 1,055

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 42,530 222,558 445,713

2010 Census Pop 40,124 212,807 428,732

2018 Estimate HH 13,945 76,768 157,697

2010 Census HH 12,873 72,557 150,271

Median HH Income $53,328 $68,777 $73,105

Per Capita Income $23,170 $32,906 $38,053

Average HH Income $70,329 $94,830 $107,050

UNIT MIX

NUMBEROF UNITS

UNIT TYPEAPPROX.SQUARE FEET

2 Two-Bedroom/One-Bath

1 Two-Bedroom/Two-Bath

7 Studio/One-Bath

43 One-Bedroom/One-Bath

53 Total 29,772

VITAL DATA

Price $12,500,000 CURRENT PROFORMA

Down Payment 50% / $6,250,000 CAP Rate 4.55% 5.81%

Loan Amount $6,250,000 GRM 13.59 11.54

Loan Type Proposed NewNet Operating Income

$568,332 $726,716

Interest Rate / Amortization 4% / 30 YearsNet Cash Flow After Debt Service

3.36% / $210,271 5.90% / $368,655

Price/Unit $235,849 Total Return 5.13% / $320,336 7.73% / $483,203

Price/SF $419.86

Number of Units 53

Rentable Square Feet 29,772

Year Built 1977

Lot Size 1.2 acre(s)

15

7115 MILWOOD AVE

OFFERING SUMMARY

Hard-to-Find Large Asset for Sale - 53-Units in Canoga Park

No Earthquake Retrofit Required

Built in 1977 on 1.2 Acres of Land

Twenty Units ( 20) Have Been Fully Remodeled in 2018

Impressive Frontage on Milwood Avenue

Gated and Secured Entry 78 Parking Spaces

• Walking Distance to Shopping, Dining, and Commercial Facilities of Sherman Way

• Property Maintained in Mint Condition and Professionally Managed

• Additional Income from the RUBS Utility Reimbursement Program

• Additional Income from Rental of Parking Spaces

• Desirable Unit Mix of 43 (1+1), 2 ( 2+1), 1 ( 2+2) and 7 Single Units.

• Considerable Upside in Rents

• Property Located in the Proximity of Major Commercial and Residential Developments Currently Planned for Neighboring Woodland Hills Area

INVESTMENT HIGHLIGHTS

Marcus & Millichap is proud to present exclusively for sale 53 units located at 7115 Milwood Avenue, Canoga Park, CA. The property was built in 1977 and is subject to

Los Angeles rent control regulation.

The subject property boasts an excellent unit mix comprised of 7 studios, 43 one-bedroom/one-bath units, two two-bedroom/one-bath units and one two-bedroom/two-

bath unit. There are two levels of apartments surrounding a central courtyard. The building consists of 29,772 square feet and is situated on a 1.2 acres of land. The

building features a pool and jacuzzi, controlled access entry, wall mounted air conditioning and heating, laundry facility and 78 gated parking spaces. Units are individually

metered for gas and electricity, and a Ratio Utility Billing System (RUBS) program.

The property is located in a strong rental market with a submarket vacancy rate of only 2.3%. Tenants are just a short distance to nearby Lanark Park, Canoga Park

Library, the Westfield Shopping Mall and Northridge Fashion Square.

Transportation conveniences include the new Metro Orange Line Extension, with a terminal located two blocks away on Canoga Avenue, offering easy access to the entire

Metro Rail system for accessible light rail commuting, the Ventura (101) Freeway 2 miles south and the 118 Freeway 3.5 miles north. Located between two major

north/south thoroughfares, the property provides easy access to Woodland Hills, Chatsworth, Simi Valley and Santa Clarita.

INVESTMENT OVERVIEW

16

LOCAL MAP

7115 MILWOOD AVE

17

AERIAL PHOTO

7115 MILWOOD AVE

18

7115 MILWOOD AVE

19

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

7115 MILWOOD AVE

RENT ROLL SUMMARY

20

FINANCIAL ANALYSIS

7115 MILWOOD AVE

21

RENT ROLL DETAIL

***

*

**

*

*

*

*

*

*

*

Rents as of November, 2019

Vacant

**Remodeled Units 

FINANCIAL ANALYSIS

7115 MILWOOD AVE

22

RENT ROLL DETAIL

**

***

*

** Remodeled Units 

FINANCIAL ANALYSIS

7115 MILWOOD AVE

OPERATING STATEMENT

23

FINANCIAL ANALYSIS

7115 MILWOOD AVE

PRICING DETAIL

24

7115 MILWOOD AVE

25

MARKET

COMPARABLES

7115 MILWOOD AVE

SALES COMPARABLES MAP

26

7115 MILWOOD AVE

(SUBJECT)

Americana Independence

20830 Vintage St

Pine Crest Apartments

Chatsworth Place

18400 Prairie Villas

Apartments

15135 Victory Blvd

14153 Victory Blvd

SALES COMPARABLES

ON MARKET COMPARABLES

1

2

3

4

5

7

6

27

PROPERTY NAME7115 MILWOOD AVE

SALES COMPARABLES

Avg. 4.44%

Avg. 5.00%

0.0

0.6

1.2

1.8

2.4

3.0

3.6

4.2

4.8

5.4

6.0

7115

Milwood Ave

Americana

Independence

20830

Vintage St

Pine Crest

Apartments

Chatsworth

Place

18400

Prairie

Villas

Apartments

15135

Victory

Blvd

14153

Victory

Blvd

Average Cap Rate

Avg. 13.02Avg. 13.57

0.00

1.60

3.20

4.80

6.40

8.00

9.60

11.20

12.80

14.40

16.00

7115

Milwood Ave

Americana

Independence

20830

Vintage St

Pine Crest

Apartments

Chatsworth

Place

18400

Prairie

Villas

Apartments

15135

Victory

Blvd

14153

Victory

Blvd

Average GRM

SALES COMPARABLES

ON MARKET COMPARABLES

SALES COMPS AVG

ON MARKET COMPS AVG

28

PROPERTY NAME7115 MILWOOD AVE

SALES COMPARABLES

Avg. $346.41

Avg. $432.25

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

$350.00

$400.00

$450.00

$500.00

Average Price Per Square Foot

Avg. $209,092

Avg. $287,500

$0

$30,000

$60,000

$90,000

$120,000

$150,000

$180,000

$210,000

$240,000

$270,000

$300,000

Average Price Per Unit

SALES COMPARABLES

ON MARKET COMPARABLES

SALES COMPS AVG

ON MARKET COMPS AVG

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

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29

SALES COMPARABLES ON MARKET COMPARABLES

Units Unit Type

Offering Price: $12,500,000 2 Two-Bdr One-Bath

Price/Unit: $235,849 1 Two-Bdr Two-Bath

Price/SF: $419.86 7 Studio One-Bath

CAP Rate: 4.55% 43 One-Bdr One-Bath

GRM: 13.59

Total No. of Units: 53

Year Built: 1977

Underwriting Criteria

Income $894,124 Expenses $325,792

NOI $568,332 Vacancy ($25,594)

7115 MILWOOD AVE7115 Milwood Ave, Canoga Park, CA, 91303

1

Units Unit Type

Close Of Escrow: 12/13/2018 50 Studio 1 Bath

Sales Price: $52,000,000 39 1 Bdr 1 Bath

Price/Unit: $253,659 37 1 Bdr 1 Bath

Price/SF: $398.87 4 1 Bdr 1 Bath

CAP Rate: 3.61% 71 2 Bdr 2 Bath

GRM: 14.03 3 2 Bdr 2 Bath

Total No. of Units: 205

Year Built: 1985

AMERICANA INDEPENDENCE6530 Independence Ave, Canoga Park, CA, 91303

Units Unit Type

Close Of Escrow: 3/24/2019 10 1 Bdr 1 Bath

Sales Price: $5,150,000 13 2 Bdr 1 Bath

Price/Unit: $223,913

Price/SF: $393.37

CAP Rate: 5.00%

Total No. of Units: 23

Year Built: 1976

2

20830 VINTAGE ST20830 Vintage St, Chatsworth, CA, 91311

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

30

SALES COMPARABLES ON MARKET COMPARABLES

Units Unit Type

Close Of Escrow: 1/3/2019 42 Studio 1 Bath

Sales Price: $4,900,000

Price/Unit: $116,667

Price/SF: $323.54

GRM: 12.73

Total No. of Units: 42

Year Built: 1961

3

PINE CREST APARTMENTS6919 Sepulveda Blvd, Van Nuys, CA, 91405

4

Units Unit Type

Close Of Escrow: 12/19/2018 32 2 Bdr 2 Bath

Sales Price: $8,610,763

Price/Unit: $269,086

Price/SF: $331.54

Total No. of Units: 32

Year Built: 1964

CHATSWORTH PLACE9947 De Soto Ave, Chatsworth, CA, 91311

Units Unit Type

Close Of Escrow: 6/29/2018 6 Studio 1 Bath

Sales Price: $19,000,000 51 1 Bdr 1 Bath

Price/Unit: $260,274 16 2 Bdr 1 Bath

Price/SF: $310.96

CAP Rate: 4.15%

GRM: 14.00

Total No. of Units: 73

Year Built: 1969

5

18400 PRAIRIE VILLAS APARTMENTS18400 Prairie Villas Apartments, Northridge, CA, 91325

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

31

SALES COMPARABLES ON MARKET COMPARABLES

Units Unit Type

Close Of Escrow: 12/19/2018 20 Studio 1 Bath

Sales Price: $2,750,000 1 1 Bdr 1 Bath

Price/Unit: $130,952

Price/SF: $320.18

CAP Rate: 5.01%

GRM: 11.32

Total No. of Units: 21

Year Built: 1964

6

15135 VICTORY BLVD15135 Victory Blvd, Van Nuys, CA, 91411

7

Units Unit Type

On Market 29 1 Bdr 1 Bath

List Price: $9,200,000 2 2 Bdr Bath

Price/Unit: $287,500 1 3 Bdr Bath

Price/SF: $432.25

CAP Rate: 5.00%

GRM: 13.57

Total No. of Units: 32

Year Built: 1977

14153 VICTORY BLVD14153 Victory Blvd, Van Nuys, CA, 91401

8

7115 MILWOOD AVE

RENT COMPARABLES MAP

7115 MILWOOD AVE

(SUBJECT)

7240 Vassar Ave

International Village

Sherman West Apartments

Americana Warner Center

Twenty 2 Eleven Apartments

86909 De Soto Ave

4

7

8

9

11

20

12

14

15

16

17

13

18

10

4

1

2

3

5

6

32

PROPERTY NAME7115 MILWOOD AVE

RENT COMPARABLES

33

AVERAGE RENT - MULTIFAMILY

Avg. $2,369

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

7115

Milwood Ave

7240

Vassar Ave

International

Village

Sherman

West

Apartments

Americana

Warner

Center

Twenty 2

Eleven

Apartments

86909 De

Soto Ave

2 Bedroom

Avg. $1,450

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

7115

Milwood Ave

7240

Vassar Ave

International

Village

Sherman

West

Apartments

Americana

Warner

Center

Twenty 2

Eleven

Apartments

86909 De

Soto Ave

Studios

Avg. $1,825

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

7115

Milwood Ave

7240

Vassar Ave

International

Village

Sherman

West

Apartments

Americana

Warner

Center

Twenty 2

Eleven

Apartments

86909 De

Soto Ave

1 Bedroom

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

RENT COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

34

YEAR BUILT: 1977

rentpropertyname1

rentpropertyaddress1

Unit Type Units SF Rent Rent/SF

Two-Bdr One-Bath

2 $1,850 $0.00

Two-Bdr Two-Bath

1 $2,000 $0.00

Studio One-Bath 7 $1,270 $0.00

One-Bdr One-Bath

43 $1,314 $0.00

Total/Avg. 53 $1,341

7115 MILWOOD AVE7115 Milwood Ave, Canoga Park, CA, 91303

YEAR BUILT: 1962

1

Unit Type Units SF Rent Rent/SF

Studio 1 Bath 1 $1,400

Total/Avg. 1 $1,400

7240 VASSAR AVE7240 Vassar Ave, Canoga Park, CA, 91303

2

YEAR BUILT: 1972

Unit Type Units SF Rent Rent/SF

2 Bdr 1 Bath 1 $1,850

2 Bdr 2 Bath 1 $1,875

Total/Avg. 2 $1,863

INTERNATIONAL VILLAGE8526 International Ave, Canoga Park, CA, 91304

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

RENT COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

35

YEAR BUILT: 1974

3

Unit Type Units SF Rent Rent/SF

1 Bdr 1 Bath 1 $1,825

Total/Avg. 1 $1,825

SHERMAN WEST APARTMENTS19050 Sherman Way, Reseda, CA, 91335

YEAR BUILT: 1976

4

Unit Type Units SF Rent Rent/SF

Studio 1 Bath 1 $1,500

Total/Avg. 1 $1,500

AMERICANA WARNER CENTER6701 De Soto Ave, Canoga Park, CA, 91303

5

YEAR BUILT: 1976

Unit Type Units SF Rent Rent/SF

2 Bdr 1 Bath 1 $2,555

Total/Avg. 1 $2,555

TWENTY 2 ELEVEN APARTMENTS20211 Sherman Way, Winnetka, CA, 91306

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

RENT COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

rentpropertyname1

rentpropertyaddress1

36

YEAR BUILT: 1976

6

Unit Type Units SF Rent Rent/SF

2 Bdr 2 Bath 1 $2,690

Total/Avg. 1 $2,690

86909 DE SOTO AVE86909 De Soto Ave, Canoga Park, CA, 91304

7115 MILWOOD AVE

37

MARKET

OVERVIEW

MARKET OVERVIEW

OVERVIEWSAN FERNANDO VALLEY

DIVERSE ECONOMY

While the entertainment industry underpins the economy, other economic drivers include aerospace, insurance and healthcare. 

EDUCATED WORKFORCE

Roughly 36 percent of San Fernando Valley residents who are age 25 and older hold a bachelor’s degree and 13 percent also obtained a graduate or professional degree. 

GROWTH

Population and household growth will increase faster than other large metros in Southern California, generating a demand for housing, and goods and services.

Approximately 2.5 million people reside in the San Fernando Valley,

which includes the submarkets of Northridge-Northwest San Fernando

Valley, Van Nuys-Northeast San Fernando Valley, Woodland Hills,

Burbank-Glendale-Pasadena and Sherman Oaks-North Hollywood-

Encino. The area’s population is expected to increase by 36,000

residents through 2023. Many people are attracted by the region’s more

affordable home prices.

Known for its entertainment industry, the Valley boasts more than 100 soundstages. Entertainment

giants calling the Valley home include Walt Disney Co., Universal Studios, Warner Brothers,

DreamWorks and Paramount Ranch.

Aerospace giants Boeing and Northrop Grumman as well as 21st Century Insurance generate

numerous well-paying jobs.

Healthcare is also a major source of employment and providers here include Kaiser Permanente and

Providence Health & Services. As a result of its large concentration of high salaries and successful

companies, household incomes are above the national average.

DEMOGRAPHICS

1

ECONOMY

METRO HIGHLIGHTS

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

7115 MILWOOD AVE

2.5M

2018POPULATION:

875K

2018HOUSEHOLDS:

38.9

2018MEDIAN AGE:

$69,800

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

38.0U.S. Median:

$58,8002.6%

Growth2018-2023*:

1.4%

Growth2018-2023*:

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

DEMOGRAPHICS

Source: © 2018 Experian

Created on June 2019

POPULATION 1 Miles 3 Miles 5 Miles

2023 Projection

Total Population 44,598 227,853 454,278

2018 Estimate

Total Population 42,530 222,558 445,713

2010 Census

Total Population 40,124 212,807 428,732

2000 Census

Total Population 35,308 198,420 404,781

Daytime Population

2018 Estimate 41,098 258,172 514,583

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

2023 Projection

Total Households 14,921 79,444 162,198

2018 Estimate

Total Households 13,945 76,768 157,697

Average (Mean) Household Size 3.03 2.86 2.79

2010 Census

Total Households 12,873 72,557 150,271

2000 Census

Total Households 10,940 69,315 145,736

Growth 2015-2020 7.00% 3.49% 2.85%

HOUSING UNITS 1 Miles 3 Miles 5 Miles

Occupied Units

2023 Projection 14,921 79,444 162,198

2018 Estimate 14,911 79,840 162,967

Owner Occupied 3,693 38,345 86,025

Renter Occupied 10,252 38,423 71,673

Vacant 966 3,072 5,270

Persons In Units

2018 Estimate Total Occupied Units 13,945 76,768 157,697

1 Person Units 24.04% 23.96% 23.91%

2 Person Units 25.13% 27.73% 29.27%

3 Person Units 16.26% 17.34% 17.40%

4 Person Units 14.99% 15.49% 15.30%

5 Person Units 9.10% 7.94% 7.61%

6+ Person Units 10.48% 7.55% 6.51%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

2018 Estimate

$200,000 or More 3.09% 6.80% 9.84%

$150,000 - $199,000 3.93% 7.82% 8.34%

$100,000 - $149,000 12.41% 17.19% 17.59%

$75,000 - $99,999 11.72% 13.76% 12.99%

$50,000 - $74,999 21.34% 18.36% 17.01%

$35,000 - $49,999 12.65% 10.42% 9.92%

$25,000 - $34,999 12.23% 8.66% 7.74%

$15,000 - $24,999 10.59% 7.75% 7.44%

Under $15,000 12.03% 9.22% 9.14%

Average Household Income $70,329 $94,830 $107,050

Median Household Income $53,328 $68,777 $73,105

Per Capita Income $23,170 $32,906 $38,053

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

Population By Age

2018 Estimate Total Population 42,530 222,558 445,713

Under 20 25.89% 23.00% 21.98%

20 to 34 Years 27.65% 22.47% 21.14%

35 to 39 Years 8.36% 7.10% 6.50%

40 to 49 Years 14.14% 14.11% 13.82%

50 to 64 Years 15.67% 19.33% 20.55%

Age 65+ 8.29% 13.99% 16.03%

Median Age 33.08 38.16 40.30

Population 25+ by Education Level

2018 Estimate Population Age 25+ 28,341 157,013 319,389

Elementary (0-8) 14.21% 7.94% 6.30%

Some High School (9-11) 11.60% 7.89% 6.80%

High School Graduate (12) 24.16% 21.72% 20.36%

Some College (13-15) 17.87% 20.74% 20.82%

Associate Degree Only 5.39% 7.31% 7.33%

Bachelors Degree Only 15.79% 21.94% 23.78%

Graduate Degree 5.81% 9.78% 12.41%

Population by Gender

2018 Estimate Total Population 42,530 222,558 445,713

Male Population 51.36% 49.53% 49.25%

Female Population 48.64% 50.47% 50.75%

39

Income

In 2018, the median household income for your selected geography is

$53,328, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 41.74%

since 2000. It is estimated that the median household income in your

area will be $61,194 five years from now, which represents a change

of 14.75% from the current year.

The current year per capita income in your area is $23,170, compare

this to the US average, which is $32,356. The current year average

household income in your area is $70,329, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 42,530. The

population has changed by 20.45% since 2000. It is estimated that

the population in your area will be 44,598.00 five years from now,

which represents a change of 4.86% from the current year. The

current population is 51.36% male and 48.64% female. The median

age of the population in your area is 33.08, compare this to the US

average which is 37.95. The population density in your area is

13,535.28 people per square mile.

Households

There are currently 13,945 households in your selected geography.

The number of households has changed by 27.47% since 2000. It is

estimated that the number of households in your area will be 14,921

five years from now, which represents a change of 7.00% from the

current year. The average household size in your area is 3.03 persons.

Employment

In 2018, there are 23,670 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

51.67% of employees are employed in white-collar occupations in

this geography, and 47.82% are employed in blue-collar occupations.

In 2018, unemployment in this area is 5.26%. In 2000, the average

time traveled to work was 31.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

46.08% White, 4.60% Black, 0.14% Native American and 13.40%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 60.29% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM

7115 MILWOOD AVE

Housing

The median housing value in your area was $428,792 in 2018,

compare this to the US average of $201,842. In 2000, there were

3,627 owner occupied housing units in your area and there were

7,314 renter occupied housing units in your area. The median rent at

the time was $623.

Source: © 2018 Experian

DEMOGRAPHICS

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