| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 59th | Good |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9850 Zelzah Ave, Northridge, CA, 91325, US |
| Region / Metro | Northridge |
| Year of Construction | 2002 |
| Units | 40 |
| Transaction Date | 2002-07-05 |
| Transaction Price | $1,248,000 |
| Buyer | LOBERN PROPERTIES INC |
| Seller | 9850 ZELZAH LLC |
9850 Zelzah Ave Northridge Multifamily Investment
This 40-unit property built in 2002 operates within a high-rent neighborhood where multifamily property research shows median contract rents at $1,958 and strong renter demand with 66% of housing units tenant-occupied.
The Northridge neighborhood demonstrates strong rental fundamentals with 66% of housing units renter-occupied, well above typical suburban levels, supporting consistent tenant demand. Median household income within a 3-mile radius reaches $104,897, while contract rents average $1,992, creating a manageable rent-to-income ratio for tenant retention. The area maintains 90% occupancy rates, though this trails the metro median among Los Angeles neighborhoods.
Built in 2002, this property aligns with the neighborhood's average construction year of 1998, indicating consistent building stock without major capital expenditure advantages or disadvantages relative to local competition. The area ranks in the top quartile nationally for education levels, with 41% of residents holding bachelor's degrees, supporting income stability and lease renewal rates.
Demographic projections within the 3-mile radius show household income growth of 38% forecasted through 2028, from $104,897 to $144,406, which should support rent growth potential. However, population is expected to decline slightly by 2.6%, requiring attention to absorption and lease-up velocity. The neighborhood provides adequate grocery access with 2.04 stores per square mile but limited cafe and park amenities, which may affect tenant satisfaction in competitive leasing situations.
Property crime rates in this neighborhood rank 1,322nd among 1,441 Los Angeles metro neighborhoods, placing it in the bottom quartile locally with an 8th percentile national ranking. However, recent trends show improvement with property crime declining 35% year-over-year, suggesting conditions are stabilizing.
Violent crime rates perform better relative to property crime, with incidents declining 54% over the past year. While overall crime metrics rank below metro averages, the improving trend direction may support tenant retention and leasing appeal over time.
Major corporate employers within commuting distance provide workforce housing demand, led by life sciences, insurance, and entertainment companies that support professional renter demographics.
- Thermo Fisher Scientific — life sciences (6.2 miles)
- Farmers Insurance Exchange — insurance (6.4 miles) — HQ
- Charter Communications — telecommunications (10.8 miles)
- Radio Disney — entertainment (12.4 miles)
- Disney — entertainment (13.0 miles) — HQ
This 40-unit Northridge property offers exposure to a high-rent suburban market with strong professional demographics and improving safety trends. The neighborhood's 66% renter occupancy rate creates sustained demand, while CRE market data from WDSuite indicates above-average NOI per unit at $12,100, ranking in the 88th percentile nationally. Projected household income growth of 38% through 2028 supports rent escalation potential, though declining population requires careful lease management.
The 2002 vintage positions the asset competitively within the neighborhood's building stock without immediate capital expenditure pressures. Proximity to major employers including Thermo Fisher Scientific and Disney provides workforce housing appeal, while recent crime reduction trends may enhance tenant retention over time.
- High-rent market with $1,958 median contract rents and 66% renter occupancy
- Above-average NOI performance at $12,100 per unit (88th percentile nationally)
- Professional tenant base with 41% bachelor's degree attainment and $104,897 median income
- Projected 38% household income growth supporting rent escalation through 2028
- Risk consideration: Declining population trends require active lease management and competitive positioning