| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 62nd | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16920 Chatsworth St, Granada Hills, CA, 91344, US |
| Region / Metro | Granada Hills |
| Year of Construction | 2000 |
| Units | 58 |
| Transaction Date | 1999-02-01 |
| Transaction Price | $840,000 |
| Buyer | CASTLEWOOD TERRACE INC |
| Seller | BROADWAY TOWERS INC |
16920 Chatsworth St, Granada Hills Multifamily Opportunity
Strong neighborhood occupancy and deep renter demand signal durable leasing conditions, according to WDSuite’s CRE market data. The property’s 2000 vintage positions it competitively versus older local stock while allowing for targeted modernization to support returns.
Situated in Granada Hills within the Los Angeles metro, the neighborhood rates A and ranks 90 out of 1,441 metro neighborhoods, placing it in the top quartile locally. Amenity access is a highlight: national amenity measures sit in the mid‑90s percentiles for restaurants, groceries, parks, and pharmacies, supporting daily convenience that helps leasing and retention.
Multifamily fundamentals are solid. Neighborhood occupancy is 99.2% (94th percentile nationally), indicating tight supply and stable rent rolls. Renter-occupied share is 66.4%, suggesting a sizable tenant base for a 58‑unit asset; investors can underwrite steady demand in a submarket where renting is common.
Education quality is supportive, with average school ratings around 4.0 (84th percentile nationally), a factor that can enhance retention for family-oriented households. The area’s median home values are elevated (95th percentile nationally), a high-cost ownership context that tends to sustain reliance on multifamily rentals and can bolster pricing power when paired with strong occupancy.
Vintage context matters: the neighborhood’s average construction year is 1978, while this property was built in 2000. The newer vintage can be competitively positioned against older stock; investors should still budget for age-related systems updates and selective renovations to meet current tenant expectations.
Within a 3‑mile radius, demographics indicate a large population with household counts increasing alongside smaller average household sizes over time. This shift implies a wider pool of renting households and supports occupancy stability; rising household incomes in the area further underpin rent collections and renewal prospects.
Safety compares favorably. The neighborhood sits around the 87th–88th national percentiles for lower crime, and recent data show double‑digit declines in estimated offenses year over year, according to CRE market data from WDSuite. Compared with Los Angeles peers, crime ranks in the top decile among 1,441 neighborhoods, indicating comparatively safer conditions that can support resident retention and property operations.
As with any urban core location, trends can vary by micro‑area and cycle; prudent owners typically incorporate standard security practices and ongoing monitoring of local reports to sustain performance.
Proximity to regional employers supports workforce housing demand and commute convenience for residents, including life sciences, insurance, media, and telecommunications offices listed below.
- Thermo Fisher Scientific — life sciences (7.8 miles)
- Farmers Insurance Exchange — insurance (8.0 miles) — HQ
- Charter Communications — telecommunications (10.0 miles)
- Radio Disney — media (11.9 miles)
- Disney — media & entertainment (12.5 miles) — HQ
16920 Chatsworth St is a 58‑unit, 2000‑built asset in a top‑quartile Los Angeles neighborhood where occupancy is exceptionally tight and renter concentration is high. Elevated ownership costs locally reinforce reliance on rentals, while strong amenity access and above‑average schools support retention and operational stability. Based on CRE market data from WDSuite, these conditions compare favorably to both metro and national trends for similar urban‑core submarkets.
The 2000 vintage offers a competitive edge versus older neighborhood stock (average 1978), with scope for value‑add through targeted unit and system upgrades. Within a 3‑mile radius, household counts are expanding even as average household size trends smaller, indicating a broader tenant base that can sustain leasing velocity and occupancy.
- Tight neighborhood occupancy and high renter concentration support cash flow stability.
- Elevated home values sustain rental demand and can enhance pricing power.
- 2000 vintage versus older local stock enables targeted value‑add to lift NOI.
- 3‑mile household growth and rising incomes expand the tenant base and renewals.
- Risks: demographic shifts (population softness) and affordability pressures require active lease management and renovation ROI discipline.