| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 66th | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21712 Septo St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2020-07-27 |
| Transaction Price | $26,400,000 |
| Buyer | CHATSWORTH 101 LLC |
| Seller | J E M S CORP |
21712 Septo St Chatsworth Multifamily Investment
This 24-unit property built in 1978 sits in a neighborhood with 98.2% occupancy and strong income growth, according to WDSuite's CRE market data.
This Chatsworth neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for net operating income per unit, with an average of $17,218 annually. The area maintains 98.2% occupancy rates, well above metro averages, while median household incomes of $112,651 have grown 32% over five years.
Built in 1978, this property aligns with the neighborhood's average construction year of 1979, positioning it for potential value-add renovations that could capitalize on the area's strong rental fundamentals. Demographics within a 3-mile radius show household income growth of 33% over five years, with 43.8% of housing units occupied by renters, supporting sustained rental demand.
The neighborhood offers strong amenity access with 4.51 childcare facilities per square mile ranking in the 99th percentile nationally, and grocery store density in the 91st percentile. Schools average 4.0 out of 5 stars, ranking in the 84th percentile nationally. Contract rents of $2,076 have increased 20.5% over five years, while maintaining affordability with a 0.22 rent-to-income ratio.
The neighborhood demonstrates strong safety metrics, ranking 21st out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 90th percentile nationally. Violent crime rates are particularly low at 2.84 incidents per 100,000 residents, ranking in the 88th percentile nationwide.
Property crime trends show significant improvement, with rates declining 91.6% year-over-year, ranking in the 99th percentile for crime reduction among metro neighborhoods. These safety fundamentals support tenant retention and stable occupancy in the multifamily sector.
The area benefits from proximity to major corporate employers, providing workforce housing opportunities for professionals in biotechnology, insurance, and communications sectors.
- Thermo Fisher Scientific — biotechnology (2.5 miles)
- Farmers Insurance Exchange — insurance (4.5 miles) — HQ
- Thermo Fisher Scientific — biotechnology (5.0 miles)
- Amerisourcebergen — healthcare distribution (13.1 miles)
- Boston Scientific Neuromodulation — medical devices (14.2 miles)
This 24-unit property offers exposure to a high-performing Chatsworth neighborhood with exceptional occupancy stability and income growth. The 1978 vintage presents value-add renovation opportunities in a market where multifamily property research shows NOI averaging $17,218 per unit annually. Demographics within a 3-mile radius indicate household growth of 6.5% and income increases of 33% over five years, expanding the potential tenant base.
The neighborhood's 98.2% occupancy rate and 20.5% rent growth over five years demonstrate strong rental demand fundamentals. However, investors should monitor the area's limited cafe and park amenities, which rank in the bottom percentiles nationally, and consider the impact of the aging building stock on near-term capital expenditure requirements.
- Neighborhood occupancy of 98.2% ranks in 90th percentile nationally
- Average NOI per unit of $17,218 ranks top quartile among metro neighborhoods
- Household income growth of 33% over five years supports rent growth potential
- 1978 construction year offers value-add renovation opportunities
- Risk: Limited amenity density may impact tenant attraction and retention