| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18445 Collins St, Tarzana, CA, 91356, US |
| Region / Metro | Tarzana |
| Year of Construction | 1978 |
| Units | 50 |
| Transaction Date | 1994-08-09 |
| Transaction Price | $2,200,000 |
| Buyer | EKINS GEORGE WARREN |
| Seller | GLENDALE FEDERAL BANK FSB |
18445 Collins St Tarzana Multifamily Investment
This 50-unit property benefits from strong neighborhood occupancy at 96.8% and elevated rental demand driven by high ownership costs in the San Fernando Valley market, according to CRE market data from WDSuite.
Located in Tarzana's Urban Core neighborhood, this property sits within a mature multifamily market where 62% of housing units are renter-occupied. The neighborhood ranks in the top quartile nationally for amenity access, with above-average density of grocery stores, restaurants, and childcare facilities that support tenant retention. Neighborhood-level occupancy remains strong at 96.8%, indicating stable rental demand despite broader market pressures.
Demographic data within a 3-mile radius shows a household base of approximately 57,600 units with median income of $97,252. Projections through 2028 indicate household growth of 31% and median income increases to $139,055, expanding the potential renter pool. The current rent-to-income ratio suggests affordability pressure that may require careful lease management, though elevated home values averaging $601,620 help sustain rental demand by keeping ownership costs out of reach for many households.
The property's 1978 construction year places it slightly older than the neighborhood average of 1973, presenting potential value-add opportunities through strategic renovations and unit upgrades. Contract rents in the neighborhood averaged $1,754 for comparable units, with 17.7% growth over the past five years reflecting sustained pricing power despite competitive rental supply.
The neighborhood demonstrates improving safety trends, ranking in the 76th percentile nationally for overall crime metrics among 1,441 metro neighborhoods. Property offense rates declined significantly by 74.4% year-over-year, while violent crime rates dropped 93.3%, indicating strengthening community conditions that support tenant retention and property values.
These positive safety trends, combined with the neighborhood's urban core designation and strong amenity access, create an environment conducive to stable multifamily operations and resident satisfaction.
The property benefits from proximity to major corporate employers that provide workforce housing demand, including established headquarters and regional offices within the greater San Fernando Valley.
- Thermo Fisher Scientific — life sciences (3.4 miles)
- Farmers Insurance Exchange — insurance HQ (3.9 miles)
- Occidental Petroleum — energy HQ (9.5 miles)
- AECOM — engineering & consulting HQ (10.5 miles)
- Live Nation Entertainment — entertainment services HQ (10.5 miles)
Strong neighborhood fundamentals support this investment opportunity, with 96.8% occupancy rates and 62% of housing units occupied by renters creating a stable tenant base. The property's 1978 vintage offers value-add potential through strategic renovations, while elevated home values averaging over $600,000 sustain rental demand by keeping ownership costs prohibitive for many households. Projected household growth of 31% through 2028 and rising median incomes to $139,055 indicate expanding renter demand, according to commercial real estate analysis from WDSuite.
The San Fernando Valley location provides access to major employment centers while benefiting from improving safety metrics, with both property and violent crime rates declining significantly year-over-year. However, investors should monitor rent-to-income ratios and potential affordability pressure that may impact renewal rates and require strategic lease management.
- Neighborhood occupancy at 96.8% demonstrates rental market stability
- Value-add potential through renovations of 1978-vintage units
- Projected 31% household growth through 2028 supports tenant demand
- High ownership costs sustain rental demand in competitive market
- Risk: Affordability pressure may require careful lease management strategies