| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Good |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21051 Lassen St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1976 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21051 Lassen St Chatsworth Multifamily Investment
This 94-unit property built in 1976 sits in a neighborhood with 96% occupancy and strong renter demand, where 71% of housing units are renter-occupied according to CRE market data from WDSuite.
The Chatsworth neighborhood demonstrates solid fundamentals for multifamily investors, ranking in the top quartile nationally for housing metrics among 1,441 metro neighborhoods. With 96% neighborhood-level occupancy and a median contract rent of $1,742, the area shows stable rental demand. The 71% renter-occupied housing share reinforces the depth of the rental market, while the 78th percentile crime ranking nationally indicates a relatively safe environment that supports tenant retention.
Demographics within a 3-mile radius show a population of approximately 121,000 with median household income of $103,500. The area attracts educated residents, with 29% holding bachelor's degrees. Forecasted household growth of 38% through 2028 suggests expanding rental demand, while projected median rent increases to $2,701 indicate pricing power potential for well-positioned properties.
Built in 1976, this property's vintage is slightly older than the neighborhood average construction year of 1981, presenting potential value-add opportunities through strategic capital improvements. The neighborhood benefits from strong grocery access with 7.41 stores per square mile ranking in the 98th percentile nationally, though amenity density overall ranks at the 48th percentile, suggesting room for tenant appeal through property-level enhancements.
Safety metrics for this Chatsworth neighborhood present a favorable profile for multifamily investors. The area ranks 304th among 1,441 metro neighborhoods for overall crime, placing it in the 78th percentile nationally. Property crime rates have declined significantly by 79% year-over-year, while violent crime has decreased by 85%, indicating improving conditions that support tenant retention and leasing stability.
The Chatsworth area benefits from proximity to major corporate employers, providing workforce housing opportunities within commuting distance of established companies.
- Thermo Fisher Scientific — life sciences (2.8 miles)
- Farmers Insurance Exchange — insurance HQ (4.5 miles)
- Thermo Fisher Scientific — life sciences (4.9 miles)
- Amerisourcebergen — pharmaceutical distribution (13.0 miles)
- Boston Scientific Neuromodulation — medical devices (14.2 miles)
This 94-unit Chatsworth property offers investors exposure to a stable rental market with 96% neighborhood occupancy and strong demographic fundamentals. The 1976 construction year presents value-add potential through strategic renovations, while the area's 71% renter-occupied housing share and projected 38% household growth through 2028 support long-term rental demand. Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the top quartile nationally for housing metrics, with declining crime rates enhancing tenant appeal.
The location benefits from proximity to major employers including Thermo Fisher Scientific and Farmers Insurance headquarters, providing workforce housing opportunities. Forecasted rent growth from $1,742 to $2,701 median suggests pricing power potential, though investors should monitor the rent-to-income ratio which currently ranks below metro median, requiring careful lease management to maintain affordability.
- Strong occupancy fundamentals with 96% neighborhood rate and 71% renter-occupied housing
- Value-add opportunity through 1976 vintage requiring strategic capital improvements
- Growing tenant base with 38% projected household growth through 2028
- Employment stability from nearby corporate anchors including life sciences and insurance
- Risk consideration: Below-median rent-to-income ratio requires careful lease pricing strategy