| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 33rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13983 Astoria St, Sylmar, CA, 91342, US |
| Region / Metro | Sylmar |
| Year of Construction | 1977 |
| Units | 29 |
| Transaction Date | 2012-06-20 |
| Transaction Price | $3,500,000 |
| Buyer | ASTORIA INVESTORS LLC |
| Seller | ASTORIA OAKS LLC |
13983 Astoria St, Sylmar CA Multifamily Investment
Neighborhood fundamentals indicate steady renter demand supported by a high share of renter-occupied units and occupancy near the metro norm, according to WDSuite’s CRE market data. With a 1977 vintage and 29 units, the asset may benefit from targeted upgrades to compete with nearby stock.
The property sits in an Urban Core neighborhood of the Los Angeles-Long Beach-Glendale metro rated B+ among 1,441 neighborhoods, placing it above the metro median (rank 532 of 1,441). Daily-needs access is a strength: cafes, childcare, pharmacies, and grocery options rank in the mid-to-high 90s nationally by density, which supports resident convenience and leasing appeal.
Renter concentration is high at the neighborhood level, with a large share of housing units renter-occupied (94th percentile nationally). For investors, that signals a deep tenant base and potential demand stability for multifamily. Neighborhood occupancy is in the 60th percentile nationally, suggesting generally stable leasing conditions without relying on outsized concessions in typical cycles.
Within a 3-mile radius, households increased in recent years despite a modest population decline, and WDSuite data indicates households are projected to grow further through 2028. That shift points to smaller household sizes and a gradual expansion of the renter pool, which can support occupancy and absorption in well-positioned assets.
Ownership costs are elevated relative to much of the country (home values around the 85th national percentile), which tends to sustain reliance on rental housing and can aid retention and pricing power for competitive multifamily. At the same time, rent-to-income sits on the lower side nationally, implying comparatively lower affordability pressure on renters in this area — a constructive backdrop for renewal rates. School ratings are near the national middle, while limited park access locally may place more emphasis on on-site amenities for resident satisfaction.
Vintage context: The submarket’s average construction year is 1982. With a 1977 build, this asset is slightly older than the neighborhood average — an important consideration for capital planning and potential value-add renovations to elevate unit finishes, building systems, and curb appeal relative to newer competitive stock.
Neighborhood safety metrics compare favorably within the Los Angeles metro, with a crime rank of 190 out of 1,441 neighborhoods — competitive among Los Angeles neighborhoods and above the metro average. Nationally, the area sits in the low-80s percentiles for overall safety, indicating comparatively better conditions than many neighborhoods nationwide.
Recent trend data from WDSuite shows substantial year-over-year decreases in both property and violent offense estimates, placing the neighborhood in the top tier nationally for improvement. While crime can vary by block and over time, the directional trend is supportive for renter retention and leasing stability.
Proximity to major employers supports a broad workforce renter base and commute convenience, notably in telecom, life sciences, media, entertainment, and pharmaceutical distribution.
- Charter Communications — telecom (9.5 miles)
- AmerisourceBergen — pharmaceuticals distribution (11.5 miles)
- Radio Disney — media (12.3 miles)
- Thermo Fisher Scientific — life sciences (12.5 miles)
- Disney — entertainment (12.5 miles) — HQ
13983 Astoria St offers a 29‑unit footprint in a neighborhood with strong renter orientation and solid amenity access. Based on CRE market data from WDSuite, neighborhood occupancy trends are broadly stable, while elevated home values relative to national norms point to a high-cost ownership market that helps sustain multifamily demand. The 1977 vintage is slightly older than the neighborhood average, creating a clear value‑add path through selective renovations and building system upgrades to compete against newer product.
Within a 3‑mile radius, households have been growing and are projected to increase further, implying a larger tenant base over the next few years. Combined with a comparatively lower rent‑to‑income ratio at the neighborhood level, these dynamics support renewal potential and pricing discipline for well‑managed assets. Investors should balance these positives against aging-vintage capex needs and the importance of on‑site amenities given limited nearby park access.
- High renter-occupied share supports depth of tenant demand and leasing stability
- Stable neighborhood occupancy with strong daily-needs amenity access
- Elevated ownership costs locally reinforce reliance on multifamily housing
- 1977 vintage offers value-add opportunity via targeted renovations and system upgrades
- Risks: capital expenditures tied to older systems and emphasis on on-site amenities amid limited park access