| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 72nd | Best |
| Amenities | 33rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18429 Prairie St, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1972 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18429 Prairie St Northridge Multifamily Investment
This 37-unit property built in 1972 positions investors in a neighborhood ranking in the top quartile nationally for safety metrics. The area's 93rd percentile rental share indicates strong tenant demand fundamentals according to CRE market data from WDSuite.
The Northridge neighborhood demonstrates solid rental market fundamentals with 59.4% of housing units occupied by renters, ranking in the 93rd percentile nationally. This high rental concentration supports consistent tenant demand for multifamily properties. Median contract rents of $1,762 place the area in the 87th percentile nationally, while demographic data within a 3-mile radius shows a stable population of 173,235 residents with median household income of $100,365.
The property's 1972 construction year positions it among older building stock in the neighborhood, where average construction dates from 1980. This vintage presents potential value-add opportunities through strategic renovations and unit improvements. Home values averaging $1.12 million in the 98th percentile nationally reinforce rental demand by limiting ownership accessibility for many households.
Neighborhood occupancy rates of 80.7% reflect current market dynamics, though this ranks in the lower quartile among 1,441 metro neighborhoods. The area benefits from strong restaurant density at 25.7 per square mile (98th percentile nationally), supporting tenant retention through lifestyle amenities. However, limited grocery and pharmacy access may impact convenience factors for residents.
The neighborhood demonstrates favorable safety metrics with property offense rates of 64.5 per 100,000 residents, ranking in the 72nd percentile nationally. More significantly, property crime has declined 68.3% year-over-year, placing the area in the 95th percentile for crime reduction trends among 1,441 metro neighborhoods.
Violent crime rates remain low at 11.7 incidents per 100,000 residents, with an even more dramatic 80.1% annual decline that ranks in the 97th percentile nationally. These improving safety trends support tenant retention and property appeal, though investors should monitor whether recent improvements represent sustainable patterns or temporary fluctuations.
The area benefits from proximity to major corporate employers, with several Fortune 500 companies and their headquarters within reasonable commuting distance supporting workforce housing demand.
- Thermo Fisher Scientific — life sciences (5.4 miles)
- Farmers Insurance Exchange — insurance headquarters (5.4 miles) — HQ
- Charter Communications — telecommunications (11.2 miles)
- Disney — entertainment headquarters (13.3 miles) — HQ
- Occidental Petroleum — energy headquarters (13.5 miles) — HQ
This Northridge property offers investors exposure to a high-rental-share neighborhood with improving safety metrics and proximity to major employment centers. The 1972 vintage provides value-add renovation opportunities while benefiting from a rental market where 59.4% of units are tenant-occupied. Demographic projections within a 3-mile radius show household income growth of 33% expected through 2028, supporting rental pricing power.
Commercial real estate analysis indicates the neighborhood's 93rd percentile ranking for rental tenure creates stable demand fundamentals. However, investors should consider the area's below-average occupancy rates and limited walkable amenities when evaluating operational strategies and tenant retention approaches.
- Strong rental market with 93rd percentile tenant occupancy share
- Value-add potential through strategic renovations of 1972 vintage units
- Improving safety trends with 68% decline in property crime
- Proximity to major employers including Disney and Farmers Insurance headquarters
- Risk consideration: Below-average neighborhood occupancy rates require active management