| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 71st | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18520 Vincennes St, Northridge, CA, 91324, US |
| Region / Metro | Northridge |
| Year of Construction | 1973 |
| Units | 62 |
| Transaction Date | 2006-05-15 |
| Transaction Price | $5,950,000 |
| Buyer | FRIEND STAGE CO LTD |
| Seller | YASUNO KIYOSHI |
18520 Vincennes St, Northridge Multifamily Investment Opportunity
Renter demand is supported by strong neighborhood amenities and an established tenant base, according to WDSuite’s CRE market data. Expect stable performance drivers anchored by high-cost homeownership in Los Angeles and competitive local occupancy.
The property sits in Northridge within the Los Angeles-Long Beach-Glendale metro, an Urban Core neighborhood rated A and ranked in the top quartile among 1,441 metro neighborhoods. Amenity access is a differentiator: dense restaurant, grocery, and pharmacy options position the area as competitive among Los Angeles neighborhoods and in the top quartile nationally for amenity availability, supporting daily convenience and renter retention.
Neighborhood occupancy is above the national midpoint and has held in the mid-90% range, a level that typically supports leasing stability and pricing discipline. Net operating income performance for similar assets in the area trends in the top decile nationally, signaling healthy revenue potential relative to expenses. Vintage for the submarket skews mid-1970s; this asset’s 1973 construction suggests planning for targeted capital improvements and value-add upgrades to strengthen competitive positioning against slightly newer stock.
Tenure patterns indicate a deep renter pool: the share of renter-occupied housing units is roughly two-thirds in the neighborhood, pointing to durable multifamily demand. Elevated home values locally contribute to sustained reliance on rental options; this context often aids lease retention and reduces move-out to ownership, a useful factor for investors conducting commercial real estate analysis.
Within a 3-mile radius, household counts have grown modestly and are projected to rise further even as average household size trends smaller. This combination typically expands the renter pool and supports occupancy stability over time, while income growth in the area underpins payment capacity for professionally managed multifamily.
Safety indicators compare favorably: the neighborhood sits in the top quartile nationally for overall safety, and recent one-year trends show meaningful declines in both property and violent offense estimates. In metro context, conditions are competitive among Los Angeles neighborhoods, with improvement momentum that supports resident retention and asset operations without relying on block-level assumptions.
Proximity to established corporate employers supports a broad commuter tenant base and helps stabilize leasing. Notable nearby employers include Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Disney.
- Thermo Fisher Scientific — life sciences (5.26 miles)
- Farmers Insurance Exchange — insurance (5.35 miles) — HQ
- Charter Communications — telecommunications (11.39 miles)
- Radio Disney — media (12.73 miles)
- Disney — entertainment (13.46 miles) — HQ
This 62-unit property built in 1973 offers a value-add angle in a neighborhood that ranks near the top among Los Angeles submarkets for amenities and NOI potential. Renter reliance is reinforced by a high-cost ownership market and neighborhood occupancy above the national midpoint, which together support leasing durability and retention. Based on CRE market data from WDSuite, local NOI per unit performance trends in the top decile nationally, while amenity density and commuter access broaden the tenant base.
Within a 3-mile radius, households are increasing and average household size is trending lower, dynamics that typically expand the renter pool and support occupancy stability. Given the asset’s early-1970s vintage, investors should underwrite selective modernization and systems upgrades to maintain competitive positioning against slightly newer stock while capturing rent premiums tied to finishes and functionality.
- Amenity-rich A-rated neighborhood with top-quartile national standing supports leasing and retention.
- High-cost ownership environment reinforces multifamily demand and pricing power.
- Household growth within 3 miles and smaller household sizes point to a larger renter pool over time.
- Value-add potential: 1973 vintage provides scope for targeted renovations and operational improvements.
- Risks: plan for capital expenditures on aging systems and monitor neighborhood occupancy trends given recent softening.