| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 59th | Good |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9710 Zelzah Ave, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 1987 |
| Units | 102 |
| Transaction Date | 2022-01-12 |
| Transaction Price | $52,500,000 |
| Buyer | NORTHRIDGE AND SUPERIOR LLC |
| Seller | NMS NORTHRIDGE LLC |
9710 Zelzah Ave, Northridge CA — Multifamily with Deep Renter Base
Neighborhood-level data points to durable renter demand and pricing power supported by a high-cost ownership market, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood, not this specific property.
Northridge’s Urban Core setting offers investors a balanced demand profile: neighborhood rents sit above national norms (high national percentile), while the neighborhood occupancy rate is around the national midpoint and has edged up over the past five years, based on CRE market data from WDSuite. The renter-occupied share of housing units is elevated (top national percentile), signaling depth in the tenant base and steady leasing velocity for multifamily.
Livability drivers are mixed. Restaurant density ranks well (upper national percentiles), and grocery access is strong. However, cafes, parks, and pharmacies are limited within the neighborhood boundaries, which may temper walk-to-amenity appeal and place more weight on in-property amenities and on-site services to support retention.
Schools score competitively at the metro scale, with the neighborhood’s average school rating landing in the top quartile among 1,441 Los Angeles metro neighborhoods. For family renters, this can aid lease stability despite the limited park inventory within the neighborhood itself.
Within a 3-mile radius, demographics show a slight population contraction alongside an increase in households and smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability. Household incomes have risen and are projected to continue increasing, reinforcing capacity to absorb rent growth. Elevated home values and a high value-to-income ratio characterize a high-cost ownership market, which tends to sustain multifamily demand and lease retention.
Neighborhood safety indicators are around the metro midpoint (crime rank 816 out of 1,441 neighborhoods) and roughly average nationally (near the 50th percentile), according to WDSuite. Recent year-over-year declines in both violent and property offense estimates suggest improving trends, though conditions can vary by block and over time. Investors should underwrite to neighborhood-level patterns rather than isolated incidents.
Proximity to regional corporate offices supports a diverse employment base and commute convenience for renters, notably including Thermo Fisher Scientific, Farmers Insurance Exchange, Charter Communications, Radio Disney, and Disney headquarters.
- Thermo Fisher Scientific — corporate offices (6.2 miles)
- Farmers Insurance Exchange — insurance (6.2 miles) — HQ
- Charter Communications — telecommunications (10.7 miles)
- Radio Disney — media (12.3 miles)
- Disney — entertainment (12.9 miles) — HQ
9710 Zelzah Ave is a 1987-vintage, 102-unit asset with average unit sizes near 860 sq. ft., positioned in a neighborhood where renter concentration is high and ownership is costly relative to incomes. According to CRE market data from WDSuite, the neighborhood’s NOI per unit outperforms national norms, and rents benchmark above national levels, while neighborhood occupancy sits near the national midpoint—conditions that favor disciplined operations and targeted upgrades.
The asset’s vintage is older than the neighborhood’s average construction year, creating a clear value-add path through modernization and systems upgrades to strengthen competitive positioning versus newer stock. Within a 3-mile radius, rising household counts and shrinking household sizes point to a larger tenant base over time, and income growth supports rent durability. Amenity gaps at the neighborhood level (limited parks/cafes/pharmacies) and average safety positioning should be underwritten, but these factors can be offset by in-property amenities, management quality, and proximity to major employers.
- High renter-occupied share and elevated home values reinforce depth of multifamily demand
- 1987 vintage offers value-add potential to outperform newer comps through targeted renovations
- Neighborhood rents and NOI per unit rank above national norms, supporting pricing power with prudent management
- 3-mile trends: more households and higher incomes expand the tenant base and support retention
- Risks: amenity gaps and average safety positioning; manage affordability pressures and emphasize on-site features