| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 45th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18418 Dearborn St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1991 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18418 Dearborn St Northridge Multifamily Investment
This 38-unit property built in 1991 benefits from neighborhood occupancy rates of 96.9% and strong rental demand dynamics. The area ranks in the 83rd percentile nationally for housing fundamentals according to CRE market data from WDSuite.
This Northridge neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy rates of 96.9% and a rental tenure share of 59.5% among housing units within a 3-mile radius. The area ranks in the top quartile nationally among 1,441 metro neighborhoods for housing metrics, supported by median contract rents of $2,018 and steady rental demand.
Demographics within a 3-mile radius show a stable tenant base with 178,023 residents and mean household income of $124,420. The area benefits from strong amenity access, ranking in the 97th percentile nationally for cafe and pharmacy density per square mile, which supports tenant retention. Home values averaging $795,639 reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
The 1991 construction year aligns with the neighborhood average vintage of 1976, positioning this asset for potential value-add opportunities through targeted renovations and unit improvements. Rent-to-income ratios indicate affordability pressure that requires careful lease management, though the high occupancy rates suggest current market acceptance of pricing levels.
Crime metrics show the neighborhood ranking in the 74th percentile nationally, indicating above-average safety conditions compared to neighborhoods nationwide. Property offense rates have declined significantly by 70.8% year-over-year, while violent offense rates dropped 85.8%, suggesting improving security trends that support tenant retention and leasing stability.
The neighborhood ranks 420th among 1,441 metro neighborhoods for overall crime, placing it above the metro median for safety conditions. These improving crime trends, combined with the area's urban core designation and strong amenity access, create a favorable environment for multifamily operations.
The area benefits from proximity to major corporate employers that support workforce housing demand, including insurance headquarters and technology companies within commuting distance.
- Farmers Insurance Exchange — insurance headquarters (5.3 miles) — HQ
- Thermo Fisher Scientific — biotechnology and laboratory services (5.3 miles)
- Charter Communications — telecommunications (11.2 miles)
- Disney — entertainment and media (13.2 miles) — HQ
- Occidental Petroleum — energy headquarters (13.3 miles) — HQ
This 38-unit Northridge property presents a value-add opportunity in a stable rental market with neighborhood occupancy rates of 96.9% and strong demographic fundamentals. The 1991 construction year positions the asset for targeted improvements while benefiting from an established tenant base in an area that ranks in the 83rd percentile nationally for housing metrics.
Demographic projections within a 3-mile radius indicate household growth of 35.3% over five years, supporting expanded renter pool and occupancy stability. According to multifamily property research from WDSuite, the combination of improving crime trends, strong amenity access, and proximity to major employers creates favorable conditions for rental demand and tenant retention.
- High neighborhood occupancy at 96.9% indicates strong rental demand and market acceptance
- Value-add potential through renovations given 1991 vintage and neighborhood improvement trends
- Projected household growth of 35.3% supports expanding tenant base over five years
- Monitor rent-to-income ratios for affordability pressure affecting renewal rates and concessions