| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Good |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20929 Lassen St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1976 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20929 Lassen St, Chatsworth Multifamily Investment
Neighborhood occupancy remains firm and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 39‑unit asset in this San Fernando Valley location. With elevated ownership costs in the area, the tenant base tends to rely on multifamily housing.
The property sits in a Los Angeles metro neighborhood rated B and ranked 616 out of 1,441, indicating performance above the metro median with steady fundamentals. Neighborhood occupancy is 96.0% (neighborhood-level), a top‑quartile national outcome that points to resilient leasing and modest downtime risk for comparable assets. Rents in the area trend above many U.S. neighborhoods, reflecting stronger incomes and positioning that can support pricing power when units are refreshed.
Local convenience is a competitive strength: grocery and pharmacy access are both in the upper‑90s national percentiles, and restaurant density is similarly high. By contrast, parks and cafes are limited within the immediate neighborhood, so on‑site amenities and resident programming can help bolster appeal relative to nearby options. Average school ratings are below national norms, which investors may factor into marketing and tenant mix expectations.
Tenure patterns show a high renter concentration at the neighborhood level (share of housing units that are renter‑occupied), which supports depth of demand for multifamily units and helps underpin occupancy stability. At the same time, median home values sit in the high‑cost range compared with most U.S. neighborhoods, reinforcing ongoing reliance on rentals and aiding lease retention.
Within a 3‑mile radius, population has grown in recent years while households increased faster, and forward projections show households continuing to rise even as population flattens. This points to smaller household sizes and an expanding pool of renting households, a tailwind for demand and absorption. Median household incomes in the 3‑mile area have strengthened meaningfully, and rent levels remain manageable relative to incomes, which helps mitigate affordability pressure and supports renewal outcomes.
Neighborhood safety indicators compare favorably in a metro context and are competitive nationally. Overall crime ranks in the better end of the distribution (top quartile among 1,441 Los Angeles‑Long Beach‑Glendale neighborhoods), with property offense rates stronger than the national midpoint and violent offense levels around the national median.
Recent trend data indicate notable year‑over‑year improvements in both violent and property offenses, according to WDSuite’s CRE market data. While safety conditions can vary by block and over time, the directional improvement and above‑average standing versus national peers provide supportive context for tenant retention and leasing.
Nearby employers span insurance, life sciences, medical devices, and communications, supporting a diversified workforce renter base and commute convenience for residents. The following anchors reflect the closest concentrations relevant to multifamily demand in this submarket: Thermo Fisher Scientific, Farmers Insurance Exchange, AmerisourceBergen, Boston Scientific Neuromodulation, and Charter Communications.
- Thermo Fisher Scientific — life sciences (2.9 miles)
- Farmers Insurance Exchange — insurance (4.5 miles) — HQ
- AmerisourceBergen — pharmaceutical distribution (13.0 miles)
- Boston Scientific Neuromodulation — medical devices (14.2 miles)
- Charter Communications — communications (14.5 miles)
Built in 1976, this 39‑unit asset offers potential value‑add upside through targeted renovations and systems modernization relative to the neighborhood’s slightly newer average vintage. Strong neighborhood occupancy, high renter concentration, and a high‑cost ownership landscape together support leasing durability and pricing power for well‑positioned units. According to CRE market data from WDSuite, amenity access to groceries, pharmacies, and restaurants is a local strength, while limited neighborhood parks and below‑average school ratings are considerations in positioning.
Within a 3‑mile radius, household counts are projected to rise even as population growth moderates, indicating smaller household sizes and a larger renter pool over time. Combined with incomes that have strengthened and rent levels that remain manageable relative to income, these dynamics support steady absorption and renewal potential while leaving room for selective upgrades to capture additional NOI.
- Occupancy stability at the neighborhood level with deep renter-occupied housing share supports consistent leasing
- 1976 vintage suggests value-add and capex opportunities to enhance competitiveness versus newer stock
- High-cost ownership market reinforces multifamily reliance and aids retention for well-managed assets
- Strong grocery/pharmacy/restaurant access and diversified nearby employers back daily convenience and demand
- Risks: below-average school ratings, limited parks/cafes locally, and capex needs typical of 1970s construction