| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 33rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14078 Astoria St, Sylmar, CA, 91342, US |
| Region / Metro | Sylmar |
| Year of Construction | 2007 |
| Units | 96 |
| Transaction Date | 2003-10-21 |
| Transaction Price | $1,000,000 |
| Buyer | VILLAGE HOMES CORP |
| Seller | ASTORIA TERRACE PROPERTIES |
14078 Astoria St Sylmar Multifamily Investment
This 96-unit property benefits from strong neighborhood-level occupancy at 93.1% and a high-density rental market with 60.8% of housing units occupied by renters, according to CRE market data from WDSuite.
The Sylmar neighborhood demonstrates solid fundamentals for multifamily investors, ranking in the top quartile nationally for housing metrics with an 80th percentile score among 1,441 metro neighborhoods. Built in 2007, this property aligns with the neighborhood's average construction year of 1982, positioning it as newer inventory that may require less immediate capital expenditure compared to older building stock.
Demographic data aggregated within a 3-mile radius shows a stable tenant base with household income growth of 72.8% over five years, reaching a mean of $109,600. Forward-looking projections indicate continued household formation with a 38.1% increase in total households expected through 2028, expanding the potential renter pool. The neighborhood maintains a 60.8% rental occupancy share, ranking in the 94th percentile nationally, which reinforces sustained rental demand.
Neighborhood-level occupancy trends show 93.1% occupancy, though this has declined 2.5% over five years, requiring attention to lease retention strategies. Median contract rents in the immediate neighborhood stand at $1,628 with 26.5% growth over five years. The area offers strong amenity density with grocery stores, pharmacies, and childcare facilities ranking in the 95th-97th percentiles nationally, supporting tenant appeal and retention.
Home values averaging $517,600 with 54% appreciation over five years create elevated ownership costs that can sustain rental demand, as higher purchase prices may keep households in the rental market longer. The rent-to-income ratio of 0.25 suggests manageable affordability for area renters, though investors should monitor renewal rates given potential ownership competition.
Safety metrics show mixed signals that warrant careful evaluation. The neighborhood ranks 190th out of 1,441 metro neighborhoods for overall crime, placing it in the 82nd percentile nationally - indicating relatively low crime levels compared to neighborhoods nationwide. Property offense rates have declined significantly by 85.1% year-over-year, ranking in the 99th percentile for improvement trends.
Violent crime rates stand at 21.0 incidents per 100,000 residents, ranking the neighborhood in the middle range among metro areas at the 58th percentile nationally. However, violent offense rates have also decreased substantially by 88.6% over the past year. These improving safety trends may support tenant retention and property values, though investors should continue monitoring local crime patterns as part of ongoing asset management.
The property benefits from proximity to major corporate employers within a 15-mile radius, providing workforce housing opportunities for professionals commuting to established business centers.
- Charter Communications — telecommunications (9.4 miles)
- Amerisourcebergen — pharmaceutical distribution (11.5 miles)
- Radio Disney — media & entertainment (12.2 miles)
- Disney — entertainment & media (12.5 miles) — HQ
- Farmers Insurance Exchange — insurance services (12.7 miles) — HQ
This 96-unit property in Sylmar presents a compelling case for multifamily investment based on strong rental market fundamentals and demographic tailwinds. Built in 2007, the asset offers newer construction that should require less immediate capital expenditure while benefiting from a neighborhood with 60.8% rental occupancy - ranking in the 94th percentile nationally. Demographic projections show household growth of 38.1% through 2028, expanding the potential tenant base significantly.
The investment thesis centers on occupancy stability and rental demand supported by elevated home ownership costs averaging $517,600, which can keep households in the rental market longer. Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the top quartile nationally for housing metrics, while strong amenity density supports tenant retention. However, investors should monitor the 2.5% decline in neighborhood occupancy over five years and plan lease management strategies accordingly.
- High rental density market with 60.8% of units renter-occupied (94th percentile nationally)
- Strong demographic growth with 38.1% household increase projected through 2028
- Newer 2007 construction reduces near-term capital expenditure requirements
- Elevated home values ($517,600 median) support sustained rental demand
- Risk consideration: Neighborhood occupancy declined 2.5% over five years requiring active lease management