| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Good |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20949 Lassen St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1976 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20949 Lassen St Chatsworth Multifamily Investment
This 33-unit Chatsworth property benefits from strong neighborhood-level occupancy at 96.0% and expanding household formation, with commercial real estate analysis indicating favorable rental demand dynamics in the Los Angeles metro.
Located in an Urban Core neighborhood of Chatsworth, this property sits within a submarket showing strong fundamentals for multifamily investors. The neighborhood maintains 96.0% occupancy rates, ranking in the 77th percentile nationally among comparable areas. With 70.9% of housing units renter-occupied, the area demonstrates substantial rental demand that supports consistent tenant pools.
Built in 1976, this property aligns with the neighborhood's average construction year of 1981, suggesting potential value-add opportunities through strategic capital improvements and unit upgrades. The demographic profile within a 3-mile radius shows household income growth of 65.2% over five years, reaching a median of $103,836, while contract rents increased 25.7% to $2,004 median.
Neighborhood amenities support tenant retention with 7.41 grocery stores per square mile ranking in the 98th percentile nationally, plus strong restaurant density at 17.29 per square mile. The area's rent-to-income ratio of 0.22 indicates manageable affordability for residents, though elevated home values at $590,851 median help sustain rental demand by keeping households in the multifamily market.
Forward-looking demographics indicate household growth of 37.7% projected through 2028, with median household income forecast to reach $146,758 and median rents rising to $2,732. This expanding renter pool should support occupancy stability and renewal rates for well-positioned properties.
The neighborhood demonstrates improving safety trends that support tenant retention and leasing stability. Property crime rates declined 79.3% year-over-year, ranking in the 98th percentile nationally for crime reduction. Violent crime also decreased 84.9% over the same period, placing the area in the 98th percentile for improvement trends nationwide.
Current property offense rates of 105.4 per 100,000 residents rank in the 66th percentile nationally, indicating above-average safety conditions compared to neighborhoods across the country. These positive safety trends contribute to tenant satisfaction and can support renewal rates in multifamily properties.
The Chatsworth area benefits from proximity to major corporate employers that provide workforce housing demand, with several Fortune 500 companies and healthcare leaders within commuting distance.
- Thermo Fisher Scientific — life sciences and healthcare (2.9 miles)
- Farmers Insurance Exchange — insurance services (4.5 miles) — HQ
- Thermo Fisher Scientific — life sciences and healthcare (4.9 miles)
- Amerisourcebergen — pharmaceutical distribution (13.0 miles)
- Boston Scientific Neuromodulation — medical technology (14.2 miles)
This 33-unit Chatsworth property presents a compelling value-add opportunity in a neighborhood demonstrating strong multifamily fundamentals. Built in 1976, the property offers renovation upside potential while benefiting from neighborhood occupancy rates of 96.0% that rank in the 77th percentile nationally. The area's 70.9% renter-occupied housing share creates a deep tenant pool, while projected household growth of 37.7% through 2028 should expand rental demand.
Demographics within a 3-mile radius show household income growth of 65.2% over five years, supporting rent growth potential as median rents increased 25.7% to $2,004. According to CRE market data from WDSuite, the combination of improving safety metrics, strong employer proximity including Thermo Fisher Scientific and Farmers Insurance, and manageable rent-to-income ratios at 0.22 creates favorable conditions for occupancy stability and tenant retention.
- Strong neighborhood occupancy at 96.0% ranking 77th percentile nationally
- Value-add potential through strategic renovations of 1976 vintage property
- Projected 37.7% household growth through 2028 expanding tenant base
- Major employer proximity including Fortune 500 headquarters within 15 miles
- Risk consideration: Property age requires capital planning for mechanical systems and unit upgrades