| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 54th | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17122 Chatsworth St, Granada Hills, CA, 91344, US |
| Region / Metro | Granada Hills |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2020-08-26 |
| Transaction Price | $6,650,000 |
| Buyer | PBM 3 LLC |
| Seller | HARGES FAMILY PARTNERSHIP LP |
17122 Chatsworth St Granada Hills Multifamily Investment
Neighborhood occupancy is 97.6% and renter demand is reinforced by a high-cost ownership market, according to CRE market data from WDSuite. Investors should expect stable leasing fundamentals with potential to position a 1986 asset competitively against older local stock.
Granada Hills posts a B+ neighborhood rating and ranks 446 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it competitive among metro peers. Dining and daily-needs access are strong, with restaurants and grocery options scoring in the low-90s percentiles nationally, while pharmacies also index well; this supports convenience that can aid tenant retention.
At the neighborhood level, renter-occupied housing makes up roughly 41% of units, indicating a meaningful renter base that can support multifamily demand. Median contract rents benchmark in the mid-to-upper range locally, and the neighborhood occupancy rate sits near the high-90s, signaling leasing stability for well-managed assets.
Within a 3-mile radius, households have grown modestly even as population edged down, and forecasts point to more households alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability and lease-up, a trend consistent with commercial real estate analysis that ties smaller households to multifamily demand.
Home values index high versus national norms, and the value-to-income ratio ranks in the upper percentiles nationally. In practice, this high-cost ownership environment tends to reinforce reliance on rentals, which can support pricing power and lease retention for properties that are maintained and positioned well.
The asset’s 1986 construction is newer than the neighborhood’s average vintage (1974). That relative youth can improve competitive positioning versus older stock; however, investors should still plan for modernization of aging systems and selective renovations to capture value-add upside.
Relative to neighborhoods nationwide, safety indicators benchmark favorably: overall conditions track around the upper quartiles nationally, and both violent and property offense measures have improved on a year-over-year basis. This trajectory supports leasing stability and can aid resident retention, while still warranting routine, property-level safety and lighting best practices.
As always, crime patterns vary by corridor and over time. Investors should review recent, submarket-level trends and coordinate with management on security measures appropriate to the asset’s frontage and access points.
Nearby corporate offices provide a diversified employment base that supports commuter convenience and renter demand, including Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and AmerisourceBergen.
- Thermo Fisher Scientific — life sciences (7.5 miles)
- Farmers Insurance Exchange — insurance (7.8 miles) — HQ
- Charter Communications — telecommunications (10.3 miles)
- Radio Disney — media (12.2 miles)
- AmerisourceBergen — pharmaceuticals distribution (12.5 miles)
17122 Chatsworth St offers an investable profile in a neighborhood that ranks competitive within the Los Angeles-Long Beach-Glendale metro and maintains high occupancy. The property’s 1986 vintage is newer than the area’s average, suggesting manageable near-term capital planning with selective modernization to enhance positioning against older comparables. According to CRE market data from WDSuite, elevated home values and strong neighborhood occupancy support durable rental demand and retention for well-operated assets.
Within a 3-mile radius, households are increasing and average household size is trending lower, which typically enlarges the renter pool and supports steady leasing. Renter concentration at the neighborhood level is meaningful, and local amenities score above national averages, which helps underpin day-to-day livability and can aid renewals.
- High neighborhood occupancy and strong daily-needs access support leasing stability
- 1986 construction provides relative competitiveness, with modernization potential for value-add
- High-cost ownership market reinforces reliance on rentals and pricing power
- 3-mile household growth and smaller household sizes expand the renter pool