| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 66th | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21744 Septo St, Chatsworth, CA, 91311, US |
| Region / Metro | Chatsworth |
| Year of Construction | 1977 |
| Units | 22 |
| Transaction Date | 1999-01-28 |
| Transaction Price | $940,000 |
| Buyer | 9232 SEPULVEDA ASSOCIATES |
| Seller | L AND S A WAGGONER TRUST |
21744 Septo St Chatsworth Multifamily Investment
This 22-unit property built in 1977 benefits from neighborhood-level occupancy of 98.2% and elevated home values that sustain rental demand, according to WDSuite's CRE market data.
Chatsworth's multifamily market demonstrates strong fundamentals with neighborhood-level occupancy at 98.2%, ranking 219th among 1,441 Los Angeles metro neighborhoods and placing in the 90th percentile nationally. The area maintains a renter concentration of 36.8% of housing units, providing a stable tenant base for multifamily properties. Median contract rents of $2,076 reflect competitive pricing power, while the neighborhood ranks in the top quartile nationally for housing metrics overall.
Demographics within a 3-mile radius support long-term rental demand, with a population of approximately 102,000 and median household income of $101,858. Projected household growth of 37.8% through 2028 indicates expanding renter pools, while forecast median income growth to $145,807 suggests strengthening tenant quality. The area's median home value of $744,617 creates a substantial ownership cost barrier, with a value-to-income ratio of 6.6 that reinforces reliance on rental housing among area residents.
The property's 1977 construction year aligns closely with the neighborhood average of 1979, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Essential amenities support tenant retention, with strong grocery store density ranking in the 91st percentile nationally and above-average restaurant access. School ratings average 4.0 out of 5, ranking in the top quartile among metro neighborhoods, which appeals to family-oriented renters in this market segment.
The Chatsworth neighborhood demonstrates favorable safety metrics that support tenant retention and property stability. The area ranks 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 2.8 incidents per 100,000 residents, ranking in the 88th percentile compared to neighborhoods nationwide.
Property crime trends show significant improvement, with rates declining 91.6% year-over-year and ranking in the 99th percentile nationally for crime reduction. This positive trajectory, combined with the area's established residential character, creates an environment that appeals to quality tenants and supports lease renewal rates in the multifamily sector.
The Chatsworth submarket benefits from proximity to major corporate employers that drive workforce housing demand, with life sciences, insurance, and technology companies providing employment stability for area renters.
- Thermo Fisher Scientific — life sciences & laboratory services (2.5 miles)
- Farmers Insurance Exchange — insurance services (4.5 miles) — HQ
- Thermo Fisher Scientific — life sciences & laboratory services (5.0 miles)
- Amerisourcebergen — pharmaceutical distribution (13.1 miles)
This Chatsworth property presents a compelling multifamily investment opportunity anchored by exceptional neighborhood-level occupancy of 98.2% and strong demographic fundamentals. The area's elevated home values and 6.6 value-to-income ratio create substantial barriers to homeownership, sustaining consistent rental demand. According to commercial real estate analysis from WDSuite, the combination of projected household growth of 37.8% through 2028 and median income increases to $145,807 supports both occupancy stability and rent growth potential.
The 1977 construction year provides value-add renovation opportunities while maintaining alignment with neighborhood building stock. Strong safety metrics, including a 90th percentile national ranking for crime and significant year-over-year crime reduction, enhance tenant appeal and retention prospects. The property's 22-unit scale offers manageable operations while benefiting from proximity to major employers including Thermo Fisher Scientific and Farmers Insurance Exchange headquarters.
- Neighborhood occupancy of 98.2% ranks in 90th percentile nationally
- Projected 37.8% household growth through 2028 expands tenant base
- High home values sustain rental demand with 6.6 value-to-income ratio
- Value-add potential from 1977 vintage and renovation opportunities
- Risk: Smaller 22-unit scale may limit economies of scale and financing options