| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 59th | Good |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17821 Halsted St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1985 |
| Units | 44 |
| Transaction Date | 1998-06-04 |
| Transaction Price | $1,660,831 |
| Buyer | HOME SVGS OF AMERICA FSB |
| Seller | RANDIS ALEX |
17821 Halsted St Northridge Multifamily Investment
This 44-unit property sits in a neighborhood with 90% occupancy and strong renter demand, supported by 65.8% rental tenure that ranks in the top quartile nationally according to CRE market data from WDSuite.
This Northridge neighborhood demonstrates solid fundamentals for multifamily investment, with 65.8% of housing units occupied by renters—ranking in the top quartile nationally among 1,441 metro neighborhoods. The 90% neighborhood occupancy rate provides a stable baseline, though investors should monitor local absorption trends given the moderate ranking within the metro area.
Built in 1985, this property represents typical vintage for the area, where average construction dates to 1998. The older construction year suggests potential value-add opportunities through strategic renovations and unit improvements to capture higher rents while addressing deferred maintenance needs.
Demographics within a 3-mile radius show 163,000 residents with a median household income of $103,137, supporting rental demand at current market rates of approximately $1,976. The area maintains 41.4% bachelor's degree attainment—ranking in the top 3% nationally—indicating a stable, educated renter base. However, the high rent-to-income ratio of 35% suggests affordability pressures that warrant careful lease management and renewal strategies.
Home values averaging $829,631 with 31% five-year appreciation reinforce rental demand by keeping ownership costs elevated relative to renting. The neighborhood's B rating reflects balanced fundamentals, with strong educational attainment and housing metrics offsetting moderate amenity access and crime rankings.
Crime metrics show mixed signals requiring careful evaluation. Property offense rates rank in the lower portion among 1,441 metro neighborhoods, though recent trends show improvement with a 35% year-over-year decline. Violent crime rates similarly rank below metro median but demonstrate stronger improvement trends with a 54% reduction over the past year.
While current crime levels warrant attention in tenant screening and property management protocols, the improving trajectory suggests positive momentum. Investors should factor these considerations into security investments and insurance planning while monitoring whether improvement trends continue.
The Northridge area benefits from proximity to major corporate employers, providing workforce housing demand from diverse industries including healthcare, insurance, and entertainment sectors.
- Thermo Fisher Scientific — healthcare technology (6.2 miles)
- Farmers Insurance Exchange — insurance HQ (6.2 miles)
- Charter Communications — telecommunications (10.7 miles)
- Disney — entertainment HQ (12.8 miles)
- Live Nation Entertainment — entertainment HQ (13.8 miles)
This 44-unit Northridge property offers value-add potential through its 1985 vintage in a neighborhood with strong renter fundamentals. The 65.8% rental tenure rate ranks in the top quartile nationally, while elevated home values averaging $829,631 sustain rental demand by keeping ownership costs prohibitive for many households. Demographics within a 3-mile radius show household growth and income gains supporting current rent levels near $1,976.
The property's older construction relative to the neighborhood average presents renovation upside to capture higher rents and improve competitive positioning. However, investors must balance capital expenditure requirements against market fundamentals, particularly given affordability pressures reflected in the 35% rent-to-income ratio that could impact renewal rates and lease-up velocity.
- Top quartile national ranking for rental tenure supports stable demand
- Value-add potential through strategic renovations of 1985 vintage units
- High home values reinforce renter reliance on multifamily housing
- Educated tenant base with 41% bachelor's degree attainment
- Risk: High rent-to-income ratios may pressure renewal rates and require careful lease management