| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 65th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19119 Nordhoff St, Northridge, CA, 91324, US |
| Region / Metro | Northridge |
| Year of Construction | 1996 |
| Units | 38 |
| Transaction Date | 2023-03-24 |
| Transaction Price | $14,397,500 |
| Buyer | EHF ASHWOOD COURT PROPCO LP |
| Seller | ASHWOOD COURT LP |
19119 Nordhoff St, Northridge CA Multifamily Investment
Stabilized renter demand in Northridge with a newer-vintage asset profile positions this 38-unit property for durable operations, according to WDSuite's CRE market data. Neighborhood occupancy trends and strong local incomes support consistent leasing in a high-cost ownership market.
Northridge's Urban Core setting offers daily convenience and renter appeal anchored by cafes, restaurants, and parks. Neighborhood amenity density for cafes and dining ranks among the stronger pockets nationally, while park access is also competitive. By contrast, grocery, pharmacy, and childcare options are thinner within the immediate neighborhood, which can modestly influence resident convenience and errand trips.
Rents in the neighborhood benchmark in the top decile nationally, signaling pricing power relative to many U.S. submarkets. Occupancy trends sit around the low-90s, indicating steady demand without overheating, based on CRE market data from WDSuite. The renter-occupied share of housing is roughly on par with the owner share, suggesting a broad tenant base that supports leasing depth for multifamily operators.
The property's 1996 vintage is newer than the neighborhood average year of construction (1980), which can enhance competitive positioning versus older stock; investors should still plan for targeted system modernizations and common-area refreshes over the hold period.
Demographic signals within a 3-mile radius show a slight population decline alongside a small increase in household counts and smaller average household sizes, which points to a stable or expanding pool of renting households. Rising median and mean household incomes in this radius support rent collections and retention, while elevated home values in the neighborhood reinforce reliance on multifamily housing and can sustain pricing power.
Relative to the Los Angeles metro, this neighborhood reads above the metro median on amenities tied to lifestyle (cafes, restaurants, parks) and competitive among peer neighborhoods for housing and demographics. Nationally, high percentiles for home values and incomes underscore the area's high-cost ownership context, a constructive backdrop for multifamily demand.
Safety indicators compare favorably versus many neighborhoods nationwide, with the area landing in the top quartile nationally. Recent data also points to a sharp year-over-year improvement in both violent and property offense rates, according to WDSuite's CRE market data. While crime can vary by block and over time, these trends support renter retention and leasing stability at the neighborhood level.
Proximity to a diverse employment base - including life sciences, insurance, media, and energy - underpins renter demand and commute convenience for the workforce segments most likely to lease nearby.
- Thermo Fisher Scientific - life sciences (4.5 miles)
- Farmers Insurance Exchange - insurance (4.6 miles) - HQ
- Charter Communications - telecommunications (12.0 miles)
- Radio Disney - media (13.2 miles)
- Occidental Petroleum - energy (13.6 miles) - HQ
This Northridge asset combines a 1996 vintage with relatively spacious average floor plans, offering competitive positioning versus older neighborhood stock while leaving room for targeted modernization to enhance rents and retention. Neighborhood occupancy in the low-90s and high-cost ownership dynamics support steady multifamily demand, according to CRE market data from WDSuite.
Within a 3-mile radius, households have increased and are projected to expand further even as population trends edge lower, indicating smaller household sizes and a broader renter pool over time. Strong local incomes and proximity to major employers support leasing stability; key risks include softer convenience for essential retail within the immediate neighborhood and sensitivity to broader metro cyclical shifts.
- Newer 1996 vintage versus neighborhood average, with potential to create value through selective updates
- Neighborhood occupancy around the low-90s supports cash flow stability
- Elevated home values and strong incomes reinforce renter reliance on multifamily housing
- 3-mile radius shows growth in households and smaller household sizes, expanding the tenant base
- Risks: limited immediate access to groceries/pharmacies/childcare and potential macro-driven demand softening