| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 59th | Good |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17806 Lassen St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1985 |
| Units | 42 |
| Transaction Date | 2019-10-14 |
| Transaction Price | $14,850,000 |
| Buyer | VALLEYWOOD APARTMENTS LLC |
| Seller | CHUNG DONG K |
17806 Lassen St Northridge Multifamily Investment
This 42-unit property sits in a high-income Northridge neighborhood with above-average net operating income per unit at $12,100, ranking in the 88th percentile nationally according to CRE market data from WDSuite.
Built in 1985, this property operates in a mature neighborhood that ranks in the top quartile among 1,491 Los Angeles metro neighborhoods for housing fundamentals. The area maintains 90% occupancy rates with a strong rental housing base, as 65.8% of housing units are renter-occupied, ranking in the 96th percentile nationally for rental concentration.
The neighborhood demonstrates solid income fundamentals, with median household income at $96,666 within a 3-mile radius—growing 84% over five years. Home values average $829,631, creating pricing dynamics that support rental demand as elevated ownership costs reinforce renter reliance on multifamily housing. Contract rents average $1,958, positioning well within affordability parameters for the local income base.
Demographics within the 3-mile radius show a stable population of 157,163 residents, with 42.3% of households renting. The area benefits from strong educational attainment, with 41.4% of adults holding bachelor's degrees, ranking in the 97th percentile nationally. Amenity access includes adequate grocery and childcare density, though restaurant and recreational options remain more limited compared to metro averages.
Property crime rates in the neighborhood show improvement trends, with a 35.2% decline over the past year, ranking in the 78th percentile nationally for crime reduction. The area's overall crime profile ranks near the metro median among 1,441 neighborhoods, with violent crime rates at 123 incidents per 100,000 residents—below many urban core areas in the Los Angeles market.
While property crime levels remain elevated compared to suburban benchmarks, the recent downward trajectory suggests stabilizing conditions that support tenant retention and leasing fundamentals in this urban core location.
The property benefits from proximity to major corporate employers, including Fortune 500 headquarters and established office operations that provide workforce housing demand.
- Thermo Fisher Scientific — life sciences (6.3 miles)
- Farmers Insurance Exchange — insurance HQ (6.4 miles)
- Charter Communications — telecommunications (10.7 miles)
- Disney — entertainment HQ (13.0 miles)
- Occidental Petroleum — energy HQ (13.9 miles)
This 1985-built property operates in a neighborhood with strong multifamily fundamentals, including above-average NOI per unit performance and high rental concentration that supports occupancy stability. The area's educated workforce and proximity to major employers create sustained rental demand, while recent crime reduction trends indicate improving neighborhood conditions.
Demographics within the 3-mile radius show household income growth and educational attainment levels that support rent collection and renewal rates. The property's 39-year vintage presents potential value-add opportunities through strategic capital improvements and unit renovations.
- Strong rental market with 65.8% of housing units renter-occupied
- Above-average NOI per unit at $12,100 ranking in 88th percentile nationally
- Proximity to Fortune 500 headquarters and major corporate employers
- High-income demographics with median household income of $96,666
- Risk: Property vintage requires capital planning for ongoing maintenance and potential renovations