| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 33rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14067 Astoria St, Sylmar, CA, 91342, US |
| Region / Metro | Sylmar |
| Year of Construction | 2007 |
| Units | 39 |
| Transaction Date | 2004-10-18 |
| Transaction Price | $2,775,000 |
| Buyer | DEELS PROPERTIES LP |
| Seller | VILLAGE HOMES CORP |
14067 Astoria St Sylmar Multifamily—2007 Vintage, 39 Units
Positioned in a renter-friendly pocket of Sylmar with steady neighborhood occupancy and strong daily-needs amenities, this 2007 asset aligns with demand for well-maintained workforce housing, according to WDSuite’s CRE market data.
Located in the Los Angeles-Long Beach-Glendale metro, the neighborhood around 14067 Astoria St carries a B+ rating and ranks 532 out of 1,441 metro neighborhoods, making it competitive among Los Angeles-Long Beach-Glendale neighborhoods. The submarket skews Urban Core, with retailers, pharmacies, cafes, and grocers scoring well against national peers, supporting resident convenience and leasing durability.
Amenity access is a relative strength: neighborhood counts for cafes, childcare, groceries, and pharmacies sit in the mid‑90s national percentiles, which typically supports retention and everyday livability. A notable trade-off is limited park density locally, so on‑site open space or private outdoor areas can differentiate the asset.
For investors, renter demand indicators are constructive. Neighborhood occupancy is approximately 93.1% (above the national median), and about 60.8% of housing units are renter‑occupied, signaling a deep tenant base and stable absorption for multifamily. Median contract rents benchmark in the low‑to‑mid range for Los Angeles, while neighborhood NOI per unit trends high versus national peers, reinforcing operating fundamentals based on CRE market data from WDSuite.
Home values trend elevated relative to incomes (high national percentile for value‑to‑income), a dynamic that tends to sustain reliance on multifamily rentals rather than ownership, which can support pricing power and lease retention. Average school ratings in the area are around the national middle, and should be weighed alongside the strong access to daily services.
Demographic statistics aggregated within a 3‑mile radius show households have grown modestly even as population dipped in the last five years, pointing to smaller household sizes and continued renter pool formation. Forecasts through 2028 indicate a return to population growth and a sizeable increase in household count, which would expand the local tenant base and support occupancy stability over the medium term.
Safety trends are favorable in a broader context: the neighborhood scores in the higher national percentiles for overall crime safety, placing it in the top quartile nationally compared to neighborhoods across the country. Within the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods, its crime positioning is competitive, supporting resident retention and leasing consistency.
Recent year estimates indicate sharp declines in both property and violent offense rates, which, while subject to year‑to‑year variability, point to improving conditions based on WDSuite’s CRE market data. As with any dense urban submarket, investors should monitor trends over time rather than single periods.
Proximity to major employers in telecom, pharma distribution, media/entertainment, and life sciences underpins renter demand by shortening commutes and broadening the potential tenant pool.
- Charter Communications — telecommunications (9.4 miles)
- AmerisourceBergen — pharmaceutical distribution (11.5 miles)
- Radio Disney — media (12.2 miles)
- Thermo Fisher Scientific — life sciences offices (12.3 miles)
- Disney — entertainment (12.5 miles) — HQ
Built in 2007, this 39‑unit property is newer than much of the local housing stock and should compete well against older assets while still warranting targeted capital planning as systems age. Neighborhood fundamentals—strong daily‑needs amenities, a high renter‑occupied share, and occupancy around the low‑90s—support steady leasing and retention. Elevated ownership costs in the area further reinforce reliance on rental housing, which can aid pricing power and stabilize cash flows.
Demographic statistics within a 3‑mile radius show households have increased and are projected to expand meaningfully through 2028, pointing to a larger tenant base over time. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks well above national averages and crime trends have improved, both supportive of long‑term performance when paired with prudent operations and value‑add execution where warranted.
- 2007 construction offers competitive positioning versus older stock, with room for selective upgrades.
- Deep renter base and solid neighborhood occupancy support leasing stability.
- Elevated ownership costs in the area sustain multifamily demand and pricing power.
- Amenity‑rich location (grocers, pharmacies, cafes) enhances livability and retention.
- Risks: limited park access locally; monitor demographic and safety trends to manage retention and underwriting.