| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Good |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21323 Lemarsh St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1985 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21323 Lemarsh St Chatsworth Multifamily Investment
This 60-unit property built in 1985 sits in a neighborhood with strong renter demand, where 71% of housing units are rental-occupied and commercial real estate analysis from WDSuite shows occupancy rates above metro averages at 96%.
Located in Chatsworth's urban core, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks in the top quartile nationally for housing metrics and maintains a 96% occupancy rate, outperforming many Los Angeles submarkets. With 71% of housing units renter-occupied compared to typical ownership-heavy suburban areas, the neighborhood shows established rental demand patterns that support lease-up and retention strategies.
Demographics within a 3-mile radius indicate a stable tenant base with median household income of $107,382 and projected growth to $153,024 by 2028. Population is expected to grow 3.6% over the next five years, supporting expansion of the renter pool. The area's median contract rent of $2,038 reflects pricing power in line with Los Angeles market dynamics, while the property's 1985 construction year aligns with neighborhood averages, suggesting potential value-add opportunities through strategic capital improvements.
Amenity access supports tenant retention with grocery stores ranking in the 98th percentile nationally for density and restaurant options in the 95th percentile. However, limited childcare and recreational amenities may impact appeal to family households. The neighborhood's median home values of $590,851 reinforce rental demand by keeping homeownership costs elevated relative to renting, though investors should monitor rent-to-income ratios for affordability pressure on lease renewals.
Safety metrics show mixed but improving trends for this Chatsworth neighborhood. The area ranks 304th out of 1,441 metro neighborhoods for overall crime, placing it in the 78th percentile nationally—above average compared to neighborhoods nationwide. Property crime rates have declined significantly with a 79% decrease year-over-year, while violent crime rates dropped 85%, indicating positive momentum in neighborhood security conditions.
Current property offense rates of 105 per 100,000 residents and violent offense rates of 31 per 100,000 residents position the neighborhood competitively within the Los Angeles metro area. These improving safety trends can support tenant retention and property values, though investors should continue monitoring local crime statistics as part of ongoing asset management strategies.
The Chatsworth area benefits from proximity to established corporate offices that support workforce housing demand, with major employers in life sciences, insurance, and media sectors within commuting distance.
- Thermo Fisher Scientific — life sciences (2.9 miles)
- Farmers Insurance Exchange — insurance HQ (4.9 miles)
- Thermo Fisher Scientific — life sciences (5.3 miles)
- Amerisourcebergen — pharmaceutical distribution (12.7 miles)
- Disney — entertainment HQ (16.9 miles)
This 60-unit Chatsworth property offers stable fundamentals in a neighborhood with established rental demand and improving market conditions. Built in 1985, the asset presents value-add potential through strategic renovations while benefiting from neighborhood-level occupancy of 96% and strong renter tenure at 71% of all housing units. According to CRE market data from WDSuite, the area's demographic projections show household growth and income expansion that should support rental demand through 2028.
The property's location provides access to major employment centers including Thermo Fisher Scientific and Farmers Insurance headquarters within reasonable commuting distance. Median rent levels of $2,038 reflect pricing power supported by elevated home values that reinforce renter reliance on multifamily housing. However, investors should monitor rent-to-income ratios and school ratings, which rank below metro averages and may impact family household appeal.
- Strong occupancy fundamentals with 96% neighborhood-level occupancy and 71% renter tenure
- Value-add potential through strategic capital improvements on 1985 vintage property
- Projected household income growth to $153,024 by 2028 supports rental demand
- Proximity to established employment centers including life sciences and insurance sectors
- Risk: Below-average school ratings may limit appeal to family demographics