| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 67th | Good |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17810 Merridy St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17810 Merridy St Northridge Multifamily Investment Thesis
In a high-cost ownership pocket of Northridge, sustained renter demand and competitively high neighborhood occupancy support income stability, according to WDSuite’s CRE market data. The property’s positioning benefits from strong household incomes that can help underpin rent levels.
This Northridge address sits within the Los Angeles-Long Beach-Glendale metro and scores A- on neighborhood quality, indicating solid livability for workforce and professional renters. Restaurants and parks index in the top quartile nationally, while childcare access is also strong; by contrast, pharmacies and cafes are relatively sparse. Average school ratings sit modestly above the national median, supporting family-friendly appeal without being the primary driver of demand.
The neighborhood’s renter concentration is roughly half of housing units being renter-occupied, signaling a deep tenant base for multifamily. Occupancy at the neighborhood level trends above the national median, which typically supports steadier leasing and renewal dynamics for well-run assets. Median contract rents are elevated versus many U.S. neighborhoods, but strong local incomes help sustain pricing power.
Within a 3-mile radius, recent years show a slight population dip alongside a modest increase in households, implying smaller household sizes and continued reliance on rental options. Forward-looking projections point to additional household growth and a further decline in average household size, which can expand the renter pool and support occupancy stability. Median home values in the neighborhood are high on a national basis, reinforcing renter reliance on multifamily housing and aiding lease retention for well-located assets.
Vintage and competitiveness: Built in 1987, the property is slightly newer than the neighborhood’s average vintage. That positioning can be a competitive advantage over older stock, while still warranting capital planning for systems upgrades and selective renovations to meet today’s renter expectations.
Safety indicators compare favorably with many neighborhoods nationwide, with violent and property offense measures landing well above national medians (higher percentiles indicate safer). Recent data also show significant one-year declines in both violent and property offenses, a constructive trend for long-term operations and resident retention, based on WDSuite’s CRE data.
As with any urban-core location in a large metro, conditions can vary by block and time of day. Investors typically account for this through standard security protocols, lighting, and access control to align with resident expectations and support leasing.
Proximity to diversified employment anchors underpins renter demand and commute convenience for this Northridge location, including life sciences, insurance, media, and telecommunications employers named below.
- Thermo Fisher Scientific — life sciences (6.3 miles)
- Farmers Insurance Exchange — insurance (6.5 miles) — HQ
- Charter Communications — telecommunications (10.8 miles)
- Radio Disney — media (12.4 miles)
- Disney — entertainment (13.0 miles) — HQ
17810 Merridy St is a 40-unit, 1987-vintage asset in a high-cost ownership area of Northridge where renter demand is supported by strong local incomes, top-quartile amenity access (parks, restaurants, childcare), and neighborhood occupancy that trends above national medians. According to commercial real estate analysis from WDSuite, elevated home values and a value-to-income profile typical of Los Angeles submarkets help reinforce renter reliance on multifamily housing, aiding pricing power and lease retention.
Demographics aggregated within a 3-mile radius show households increasing while average household size trends lower over time, which typically expands the renter pool even amid flat-to-slightly lower population counts. The 1987 vintage is slightly newer than the neighborhood norm, offering competitive positioning versus older stock, while still warranting targeted capex for systems, common areas, and select interiors to capture renovation upside.
- High-cost ownership market supports durable renter demand and retention
- Neighborhood occupancy above national median supports income stability
- Top-quartile access to parks, restaurants, and childcare enhances leasing appeal
- 1987 vintage offers value-add potential through targeted modernization
- Risks: urban-core variability and modest population softness require focused operations and marketing