| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 67th | Good |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17830 Merridy St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1985 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17830 Merridy St Northridge Multifamily Investment
This 43-unit property benefits from neighborhood-level occupancy at 95.2% and strong rental demand in a market where 50.6% of housing units are renter-occupied, according to CRE market data from WDSuite.
Located in Northridge's Urban Core neighborhood, this property sits in an area ranked in the top quartile nationally for crime safety (85th percentile) among Los Angeles metro's 1,441 neighborhoods. The neighborhood maintains solid occupancy fundamentals with 95.2% occupancy rates and a balanced rental market where 50.6% of housing units are renter-occupied, supporting consistent tenant demand.
Built in 1985, this property aligns with the neighborhood's average construction year of 1983, indicating similar vintage characteristics that may present value-add opportunities through strategic capital improvements. Demographic data aggregated within a 3-mile radius shows a stable population of 154,425 residents with median household income of $105,990, providing a solid tenant base for multifamily properties.
The area demonstrates strong fundamentals with median contract rents of $1,995 reflecting 21.4% growth over five years, while home values averaging $932,174 reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing. Local amenities include adequate childcare density at 1.67 facilities per square mile (90th percentile nationally) and restaurant access at 13.34 per square mile (93rd percentile nationally), supporting tenant retention through lifestyle convenience.
Forward-looking projections indicate household growth of 34.6% through 2028, expanding the potential renter pool and supporting long-term occupancy stability. The neighborhood's A- rating reflects its competitive position within the broader Los Angeles multifamily market.
The neighborhood demonstrates strong safety metrics relative to the broader Los Angeles metro area, ranking 110th among 1,441 neighborhoods for overall crime levels, placing it in the 85th percentile nationally. This top-quartile safety performance supports tenant retention and property values in the competitive multifamily market.
Property offense rates have shown significant improvement with a 76.2% year-over-year decline, while violent crime rates decreased 96.4% over the same period. These downward trends in both property and violent crime categories position the neighborhood favorably for long-term investment stability and tenant appeal.
The property benefits from proximity to major corporate employers that provide workforce housing demand, with several Fortune 500 companies and headquarters within 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 43-unit Northridge property presents a compelling investment opportunity anchored by stable neighborhood fundamentals and demographic growth trends. The neighborhood's 95.2% occupancy rate and balanced rental market composition provide operational stability, while projected household growth of 34.6% through 2028 supports long-term tenant demand expansion.
Built in 1985, the property offers potential value-add opportunities through strategic capital improvements typical of properties from this vintage. The area's strong safety profile (85th percentile nationally) and proximity to major employers including Farmers Insurance headquarters and Disney enhance tenant appeal and retention prospects. According to multifamily property research from WDSuite, the combination of stable occupancy metrics and demographic tailwinds positions this asset favorably within the Los Angeles multifamily landscape.
- Neighborhood occupancy at 95.2% demonstrates market stability and tenant retention
- Projected 34.6% household growth through 2028 expands potential renter pool
- Top-quartile safety ranking (85th percentile nationally) supports tenant appeal
- Proximity to major employers provides workforce housing demand
- 1985 vintage may require capital planning for deferred maintenance and systems upgrades