| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 71st | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18540 Citronia St, Northridge, CA, 91324, US |
| Region / Metro | Northridge |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18540 Citronia Street Northridge Multifamily Investment
This 24-unit property built in 1987 sits in an A-rated neighborhood ranking in the top quartile among 1,441 metro neighborhoods. Commercial real estate analysis from WDSuite indicates strong neighborhood-level occupancy at 94.2% with high rental demand fundamentals.
The Northridge neighborhood earns an A rating and ranks 77th among 1,441 Los Angeles metro neighborhoods, placing it in the top quartile for overall investment fundamentals. Neighborhood-level occupancy stands at 94.2%, while the area maintains 64.4% renter-occupied units, ranking in the 95th percentile nationally for rental demand depth. This high concentration of renters supports consistent leasing activity and tenant retention.
Built in 1987, the property aligns with the neighborhood's average construction year of 1976, positioning it competitively within the local housing stock. The area demonstrates strong amenity access with grocery stores (5.53 per square mile), restaurants (23.24 per square mile), and pharmacies (2.21 per square mile) all ranking in the 95th percentile or higher nationally. This amenity density supports tenant satisfaction and retention rates.
Demographics within a 3-mile radius show a stable household base of 51,316 households with median income of $102,729. The area's 43.6% renter share reflects sustained multifamily demand, while median contract rents of $1,978 indicate pricing power in the submarket. Home values averaging $779,450 with strong appreciation trends can reinforce rental demand by keeping ownership costs elevated relative to renting options.
Forward-looking projections suggest household growth to 68,545 by 2028, representing a 33.6% increase that could expand the renter pool. Forecast median household income is expected to rise 37.1% to $140,882, potentially supporting rent growth and lease renewals while maintaining affordability for quality tenants.
The neighborhood demonstrates improving safety trends with property crime rates declining 82.8% year-over-year, ranking in the 98th percentile nationally for crime reduction. Violent crime rates also decreased 93.0% annually, placing the area in the 99th percentile for violent crime improvement nationwide.
Current property crime rates of 161.2 incidents per 100,000 residents rank the neighborhood 387th among 1,441 metro neighborhoods, indicating moderate performance relative to the Los Angeles region. These trend improvements suggest positive momentum that can support tenant retention and property values over time.
The Northridge area benefits from proximity to major corporate employers, providing workforce housing opportunities for professionals commuting to nearby business centers. Key employers within reasonable commuting distance include established companies across technology, insurance, and entertainment sectors.
- Thermo Fisher Scientific — life sciences technology (5.3 miles)
- Farmers Insurance Exchange — insurance services (5.6 miles) — HQ
- Charter Communications — telecommunications (11.5 miles)
- Disney — entertainment and media (13.6 miles) — HQ
- Occidental Petroleum — energy sector (13.9 miles) — HQ
This 24-unit Northridge property offers exposure to a top-quartile neighborhood with strong rental fundamentals and improving safety metrics. The 1987 construction year positions the asset for potential value-add opportunities while benefiting from an established tenant base in a 94.2% occupied neighborhood. Demographic projections show household growth of 33.6% through 2028, supported by income growth that could drive rent appreciation and lease stability.
According to CRE market data from WDSuite, the area's 95th percentile ranking for rental demand concentration, combined with strong amenity access and employment proximity, creates favorable conditions for multifamily investment. The neighborhood's A rating reflects balanced fundamentals across housing, demographics, and location factors that support long-term value creation.
- Top-quartile neighborhood ranking with 94.2% occupancy and high rental demand
- Strong demographic growth projecting 33.6% household increase by 2028
- 1987 vintage offers value-add renovation potential for enhanced returns
- Proximity to major employers including Disney and Farmers Insurance headquarters
- Risk consideration: Monitor rent-to-income ratios and potential ownership competition