| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 71st | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18530 Citronia St, Northridge, CA, 91324, US |
| Region / Metro | Northridge |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 1999-03-23 |
| Transaction Price | $945,000 |
| Buyer | KRATER FAMILY LP |
| Seller | TRUST GILLASPIE CONNIE TR CONNIE L GILLA |
18530 Citronia St Northridge Multifamily Investment Opportunity
Neighborhood-level renter-occupied share is high and supports a durable tenant base in Northridge, according to WDSuite’s CRE market data, suggesting steady leasing fundamentals for a well-located 24-unit asset.
Northridge’s Urban Core location scores an A neighborhood rating and ranks 77th among 1,441 Los Angeles metro neighborhoods, placing it competitive among Los Angeles neighborhoods for investment fundamentals. Amenity access is a clear strength: grocery, restaurants, cafes, parks, and pharmacies all sit in high national percentiles, which helps with day-to-day convenience and leasing appeal.
At the neighborhood level, occupancy is above the national median, though it has softened modestly over the past five years. Median rents in the neighborhood remain elevated versus many U.S. areas but have pulled back over the same period, which can aid lease retention while giving operators room to manage pricing strategy thoughtfully.
Renter concentration is strong: the share of housing units that are renter-occupied ranks in the top quartile among 1,441 Los Angeles neighborhoods (and very high nationally), indicating depth in the tenant pool and supporting demand stability for multifamily. Elevated home values locally, which are high relative to income by national measures, further reinforce reliance on rental housing and can support pricing power for well-positioned properties over the cycle.
Within a 3-mile radius, households have grown despite a slight decline in total population, and forecasts point to more households and smaller household sizes ahead. For an asset with average unit sizes around 515 square feet, this shift can translate into a larger renter pool for studios and one-bedrooms and support occupancy stability. Vintage matters too: the area’s housing stock averages the mid-1970s; a 1978 build suggests potential value-add and capital planning opportunities to modernize systems and finishes for competitive positioning.
Safety indicators show a mixed but improving picture. Nationally, the neighborhood performs above average on both property and violent offense rates; within the Los Angeles metro, its safety rank sits below the metro median among 1,441 neighborhoods. Recent one-year trends are favorable, with notable declines in both violent and property offense rates, according to WDSuite’s CRE market data. For underwriting, investors typically balance the improving trajectory with prudent security and operating practices.
Proximity to diversified employers supports renter demand and commute convenience, particularly for workforce and professional tenants. The immediate area is influenced by life sciences, insurance, media, and communications employers listed below.
- Thermo Fisher Scientific — life sciences (5.3 miles)
- Farmers Insurance Exchange — insurance (5.6 miles) — HQ
- Charter Communications — communications (11.5 miles)
- Radio Disney — media (12.9 miles)
- Disney — media & entertainment (13.6 miles) — HQ
18530 Citronia St offers investors exposure to a high-amenity Northridge location where renter demand is reinforced by a large renter-occupied share and elevated local home values relative to income. Neighborhood occupancy remains above national norms with some recent softening, and median rents have eased from prior highs, supporting near-term retention while preserving longer-term pricing potential for well-run assets. The 1978 vintage points to practical value-add levers—modernizing interiors, common areas, and building systems—to strengthen competitive positioning against newer stock.
Within a 3-mile radius, households have increased and are projected to grow further even as population trends edge down, implying smaller household sizes and a larger renter pool for efficient floor plans. According to CRE market data from WDSuite, local performance benchmarks (including NOI per unit and amenity access) compare favorably at the neighborhood level, which can help support occupancy stability and leasing velocity through cycles.
- High renter-occupied share and elevated ownership costs underpin depth of tenant demand
- Above-median neighborhood occupancy with rent pullback supporting retention and tactical pricing
- 1978 vintage provides clear value-add and capital planning pathways to enhance competitiveness
- 3-mile household growth and smaller household sizes support demand for smaller units and leasing stability
- Risk: safety ranks below the metro median; continued operating focus and improvements are prudent