| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 67th | Good |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17820 Merridy St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1984 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17820 Merridy St Northridge Multifamily Investment
This 40-unit property in an A-rated neighborhood benefits from strong rental demand fundamentals, with median household incomes reaching $126,536 and neighborhood occupancy at 95.2%, according to CRE market data from WDSuite.
The Northridge neighborhood earns an A- rating, ranking in the top quartile among 1,491 metro neighborhoods for overall investment fundamentals. Built in 1984, this property aligns with the neighborhood's average construction year of 1983, suggesting consistent building stock without significant vintage premiums or discounts.
Demographic data aggregated within a 3-mile radius shows a stable renter base with 41.9% of housing units occupied by renters. The area attracts higher-income households, with median household income of $126,536 ranking in the 88th percentile nationally. Home values averaging $932,174 reinforce rental demand by keeping ownership costs elevated, supporting tenant retention in multifamily properties.
Neighborhood-level occupancy of 95.2% ranks in the 72nd percentile nationally, indicating solid absorption despite recent modest declines. Contract rents averaging $1,944 position the area in the 91st percentile nationally, reflecting strong pricing power. The rent-to-income ratio of 0.25 suggests manageable affordability for the target demographic, supporting lease retention and renewal rates.
Local amenities support tenant appeal, with the neighborhood ranking in the 90th percentile nationally for childcare access and 92nd percentile for park density. Restaurant density ranks in the 93rd percentile nationally, while grocery access ranks in the 80th percentile, providing essential services that enhance livability and retention potential.
Safety metrics show favorable trends for the neighborhood. Violent crime rates rank in the 87th percentile nationally among neighborhoods, indicating relatively low violent crime compared to peer markets. Property crime rates rank in the 56th percentile nationally, positioning the area near national medians for property-related incidents.
Recent trends show improvement, with both violent and property crime rates declining significantly over the past year. These downward trends, combined with the neighborhood's overall crime ranking of 110th among 1,441 metro neighborhoods (85th percentile nationally), support the area's appeal to quality tenants and contribute to retention fundamentals.
The property benefits from proximity to major corporate employers that support workforce housing demand, including several Fortune 500 headquarters within reasonable commuting distance.
- Thermo Fisher Scientific — life sciences (6.3 miles)
- Farmers Insurance Exchange — insurance HQ (6.5 miles)
- Charter Communications — telecommunications (10.8 miles)
- Disney — entertainment HQ (13.1 miles)
- Occidental Petroleum — energy HQ (14.0 miles)
This 40-unit Northridge property offers stable fundamentals in an A-rated neighborhood with strong demographic support. The 1984 construction year aligns with neighborhood norms, minimizing vintage-related capital expenditure pressures while positioning the asset for potential value-add improvements. Household income growth of 79% over five years, combined with 95.2% neighborhood occupancy, demonstrates sustained rental demand in a market where elevated home values reinforce renter reliance on multifamily housing.
Projected demographic trends within the 3-mile radius support long-term demand, with household formation expected to increase 34.5% through 2028 and median incomes rising to $145,663. However, investors should monitor the rent-to-income ratio of 0.25, which ranks in the 13th percentile nationally, suggesting potential affordability pressures that could impact renewal rates and necessitate careful lease management strategies.
- A-rated neighborhood ranking in top quartile among 1,491 metro areas
- Strong demographic base with $126,536 median household income
- Solid occupancy fundamentals at 95.2% neighborhood level
- Proximity to major corporate employers including Disney and Farmers Insurance headquarters
- Monitor affordability metrics as rent-to-income ratios rank in bottom quartile nationally