| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 72nd | Best |
| Amenities | 33rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18416 Halsted St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2025-05-16 |
| Transaction Price | $4,740,000 |
| Buyer | BYJ INVESTMENTS LLC |
| Seller | 18416 HALSTED LLC |
18416 Halsted St Northridge Multifamily Investment
This 23-unit property built in 1977 operates in a neighborhood with strong rental demand fundamentals, where 59% of housing units are renter-occupied and commercial real estate analysis shows the area ranking in the top quartile nationally for crime safety metrics.
The Northridge neighborhood demonstrates solid multifamily investment fundamentals with 59% of housing units occupied by renters, well above the national average and indicating sustained rental demand. Within a 3-mile radius, the area supports over 161,000 residents with a median household income of $102,351, positioning the market for stable tenant retention. The neighborhood ranks in the 76th percentile nationally for housing metrics, reflecting competitive positioning among Los Angeles metro neighborhoods.
Built in 1977, this property aligns with the neighborhood's average construction year of 1980, suggesting consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. Current median rents in the neighborhood reach $1,762, while CRE market data from WDSuite indicates the area maintains an 81% occupancy rate, though this trails metro averages and warrants attention to lease management and tenant retention strategies.
Demographics within the 3-mile radius show household income growth of 34% over the past five years, with projections indicating continued income expansion to $140,845 by 2028. This income trajectory supports rental pricing power, though investors should monitor the rent-to-income ratio which currently sits in the bottom percentile nationally. The area benefits from high childcare density, ranking in the 98th percentile nationally with 4.3 facilities per square mile, supporting family-oriented tenant retention.
Home values in the neighborhood average $1.12 million, ranking in the 98th percentile nationally, which reinforces rental demand as elevated ownership costs keep households in the multifamily market. The neighborhood's Urban Core designation and restaurant density of 26 per square mile (98th percentile nationally) contribute to tenant appeal, though grocery and pharmacy access remains limited and may impact long-term retention for some tenant segments.
The neighborhood demonstrates strong safety metrics relative to regional and national benchmarks, ranking 159th among 1,441 Los Angeles metro neighborhoods for overall crime performance and placing in the 83rd percentile nationally. Property crime rates have declined significantly over the past year, dropping 68% and ranking in the 95th percentile for improvement trends nationwide.
Violent crime rates remain low at 11.7 incidents per 100,000 residents, with the area experiencing an 80% decrease year-over-year and ranking in the 97th percentile nationally for violent crime reduction. These safety improvements support tenant retention and can enhance the property's competitive positioning for lease renewals and new resident attraction.
The area benefits from proximity to major corporate employers, with several Fortune 500 companies and industry leaders within commuting distance supporting workforce housing demand.
- Thermo Fisher Scientific — life sciences and laboratory services (5.5 miles)
- Farmers Insurance Exchange — insurance services (5.6 miles) — HQ
- Charter Communications — telecommunications (11.3 miles)
- Disney — entertainment and media (13.4 miles) — HQ
- Occidental Petroleum — energy and oil services (13.8 miles) — HQ
This 23-unit property presents a value-add opportunity in a neighborhood with improving safety metrics and strong rental demand fundamentals. The 1977 construction year offers renovation potential to capture market-rate rents, while the area's 59% renter occupancy rate indicates sustained multifamily demand. According to multifamily property research, household income growth of 34% over five years and projected increases support rental pricing power, though investors should monitor the neighborhood's below-average occupancy rates and plan tenant retention strategies.
The property benefits from proximity to major employers including Thermo Fisher Scientific, Farmers Insurance, and Disney headquarters, providing workforce housing appeal. High home values averaging $1.12 million reinforce rental demand as ownership costs keep households in the multifamily market. Population growth projections within the 3-mile radius indicate an expanding renter pool, supporting long-term occupancy stability and lease-up velocity for renovated units.
- Strong rental demand with 59% of neighborhood units renter-occupied
- Value-add potential from 1977 vintage allowing unit modernization
- Proximity to Fortune 500 employers supporting workforce housing demand
- High ownership costs reinforcing multifamily market positioning
- Risk: Below-average neighborhood occupancy rates requiring active lease management