| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 72nd | Best |
| Amenities | 33rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18404 Plummer St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1979 |
| Units | 27 |
| Transaction Date | 2003-06-18 |
| Transaction Price | $2,450,000 |
| Buyer | STEIN RONALD BLEY |
| Seller | SAYRE STREET APTS LLC |
18404 Plummer St Northridge Multifamily Investment
Workforce-oriented demand in Northridge is supported by a sizable renter base and elevated ownership costs, according to WDSuite’s CRE market data. Investors should underwrite for steady leasing interest with attention to affordability and tenant retention.
Northridge sits within the Los Angeles-Long Beach-Glendale metro and registers a B- neighborhood rating, competitive among metro neighborhoods. Restaurant density ranks in the top quartile nationally (98th percentile), signaling lifestyle convenience for residents; by contrast, cafes, grocery, park, and pharmacy counts are limited within neighborhood boundaries, so renters may rely on nearby corridors for daily needs. Median contract rents in the neighborhood benchmark high versus the nation (87th percentile), which can sustain revenue but calls for careful lease management.
Within a 3-mile radius, demographics point to a stable renter pool with shifting household composition. Population edged down modestly over the last five years while total households increased and are projected to rise further through 2028, alongside smaller average household sizes. This combination typically expands the addressable tenant base for smaller units and supports occupancy stability for well-managed properties.
Ownership costs in the neighborhood are elevated (home values in the 98th percentile nationwide and a very high value-to-income ratio), reinforcing renter reliance on multifamily housing and supporting pricing power for competitively positioned properties. At the same time, a high rent-to-income ratio indicates affordability pressure that investors should monitor for renewal risk and concession sensitivity.
Renter concentration at the neighborhood level is strong relative to national norms (renter-occupied share measures high), indicating depth in tenant demand for multifamily product. While the reported neighborhood occupancy rate trails national averages, properties that differentiate on management quality and unit finish can capture demand driven by location fundamentals and regional employment access.
Safety trends are mixed when viewed through metro versus national lenses. Within the Los Angeles-Long Beach-Glendale metro, the neighborhood’s crime rank sits below the metro median (rank 159 among 1,441 metro neighborhoods), indicating comparatively higher incident levels than many local peers. Nationally, however, the neighborhood scores in higher safety percentiles (violent and property offenses both in the upper third), suggesting a relatively favorable position versus many U.S. neighborhoods.
Recent momentum is constructive: estimated violent offense rates declined by about 80% year over year and property offenses fell by roughly 68%, placing the area among the stronger national improvers. Investors should still underwrite standard security and lighting measures and emphasize professional management, but the directional trend supports tenant retention and leasing stability.
The area draws on a diverse employment base that supports renter demand and commute convenience, including life sciences, insurance, telecommunications, and media/entertainment. Nearby anchors include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Disney.
- Thermo Fisher Scientific — life sciences (5.5 miles)
- Farmers Insurance Exchange — insurance (5.6 miles) — HQ
- Charter Communications — telecommunications (11.2 miles)
- Radio Disney — media (12.6 miles)
- Disney — entertainment (13.3 miles) — HQ
This 27-unit asset in Northridge benefits from a deep regional renter base, high local home values that reinforce reliance on rentals, and proximity to diversified employers. Neighborhood rents benchmark high on a national basis, and within a 3-mile radius households are growing and average household size is projected to decline, which can expand the tenant pool for smaller floor plans and support occupancy stability for well-run properties. Based on CRE market data from WDSuite, investors should emphasize affordability-aware lease management to balance pricing power with renewal risk.
Consider underwriting focused on operational execution: competitive finishes relative to older stock, disciplined renewal strategies amid higher rent-to-income ratios, and marketing that highlights location and employment access. Safety trends have improved year over year, but metro-relative rankings warrant continued attention to on-site management and resident experience.
- Elevated ownership costs locally support durable rental demand and potential pricing power.
- Household growth and smaller household sizes within 3 miles expand the renter pool for compact units.
- Access to diversified employers underpins leasing and reduces income concentration risk.
- Directional safety improvements support retention; ongoing professional management remains important.
- Risk: Higher rent-to-income levels and a metro-relative safety rank call for careful renewal and concession strategies.