| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 62nd | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16632 W Devonshire St, Granada Hills, CA, 91344, US |
| Region / Metro | Granada Hills |
| Year of Construction | 2003 |
| Units | 48 |
| Transaction Date | 1999-12-14 |
| Transaction Price | $345,000 |
| Buyer | HR & MM INVESTMENTS LLC |
| Seller | MOTTER ENTERPRISES INC |
16632 W Devonshire St, Granada Hills Multifamily Investment
Neighborhood occupancy remains exceptionally tight with strong renter demand, according to WDSuite’s CRE market data. This location offers stability driven by high-cost ownership dynamics in Los Angeles that tend to support multifamily retention.
Rated A and ranked 90 out of 1,441 Los Angeles metro neighborhoods, the area sits in the top decile locally, signaling durable fundamentals for multifamily investors. Amenity access scores in the top quartile nationally, with strong coverage of groceries, restaurants, parks, and pharmacies that can support resident satisfaction and lease retention.
The property’s 2003 vintage is newer than the neighborhood’s typical 1970s stock. That positioning can be competitively advantageous versus older assets, though investors should plan for mid‑life system updates and selective modernization to sustain rentability and operating efficiency.
Renter-occupied housing concentration is high at the neighborhood level, indicating a deep tenant base that supports demand across cycle turns. Within a 3‑mile radius, households have grown even as average household size trends smaller, which can expand the renter pool and support occupancy stability for professionally managed units.
Local schools average 4.0 out of 5 and rank above most neighborhoods nationwide, while parks and everyday retail fall in top national percentiles. Combined with a high-cost ownership market (home values in the top national percentiles), the setting tends to reinforce reliance on multifamily housing and can aid pricing power where unit quality and operations are competitive.
Safety indicators benchmark favorably: the neighborhood sits in the higher national percentiles for lower crime and performs in the top decile among 1,441 Los Angeles metro neighborhoods on comparative safety. Recent data also show year‑over‑year declines in both property and violent offense rates, according to WDSuite’s CRE market data, supporting a steady living environment for residents.
As with any urban core location, risks can vary by micro‑area and over time. Investors should validate on‑the‑ground conditions and monitor trend direction alongside leasing performance and resident feedback.
Nearby employers span life sciences, insurance, telecommunications, and media/entertainment, supporting a diversified renter base and commute convenience: Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Disney.
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance (7.9 miles) — HQ
- Charter Communications — telecommunications (9.5 miles)
- Radio Disney — media (11.4 miles)
- Disney — entertainment (11.9 miles) — HQ
This 48‑unit, 2003‑built asset benefits from a top‑decile neighborhood within the Los Angeles metro, where occupancy at the neighborhood level is very tight and renter concentration is high. The location’s elevated ownership costs relative to incomes reinforce multifamily demand and can support pricing power when units are well‑maintained and professionally operated.
Within a 3‑mile radius, households are increasing and average household size is trending smaller, pointing to a broader renter pool over time. According to CRE market data from WDSuite, amenities and schools benchmark above national norms, aligning with resident retention drivers while newer construction versus local stock provides competitive positioning, subject to mid‑life capital planning.
- Tight neighborhood occupancy and strong renter base support leasing stability
- 2003 vintage out-positions older local stock; plan for targeted system updates
- High-cost ownership market sustains multifamily demand and potential pricing power
- Amenity- and school-rich location supports retention and renter appeal
- Risk: Urban-core variability and capital needs could affect near-term NOI if not managed