| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18618 Collins St, Tarzana, CA, 91356, US |
| Region / Metro | Tarzana |
| Year of Construction | 1978 |
| Units | 44 |
| Transaction Date | 1997-11-06 |
| Transaction Price | $1,475,000 |
| Buyer | 18618 COLLINS LLC |
| Seller | FARR MARY J TR MARY J FARR TRUST |
18618 Collins St, Tarzana CA — Multifamily Positioned for Stable Demand
Neighborhood occupancy is strong and renter demand is well-established in this Tarzana pocket, according to WDSuite’s CRE market data, supporting consistent leasing at the neighborhood level rather than the individual property.
Located in Tarzana within the Los Angeles-Long Beach-Glendale metro, the neighborhood carries an A rating and ranks 193 out of 1,441 metro neighborhoods, making it competitive among Los Angeles neighborhoods. Occupancy in the neighborhood measures 96.8% (top quartile nationally), a favorable backdrop for minimizing downtime between turns and sustaining cash flow.
Amenity access is a strength: grocery and pharmacy density sit in the mid‑90s national percentiles, with restaurants and cafes also tracking above national medians. While immediate park access is limited inside the neighborhood cluster, day‑to‑day retail and services are convenient, supporting leasing velocity and resident retention. Average school ratings are modestly above the national median (3.0/5), offering a baseline for family‑oriented renters.
The local housing stock skews renter‑oriented, with 62.2% of housing units renter‑occupied (95th percentile nationally). For investors, this indicates a deep tenant base and steady demand across unit types. Median contract rents are in the upper national percentiles, which supports pricing power; at the same time, a rent‑to‑income ratio around 0.28 suggests manageable affordability pressure that still calls for attentive lease management.
Within a 3‑mile radius, demographics show mixed but investable signals: overall population edged down over five years, yet household counts increased and are projected to rise further through 2028 as average household size declines. This dynamic tends to expand the renter pool and support occupancy stability even when population trends are flat to slightly negative. Rising median and mean household incomes in the 3‑mile radius reinforce depth for market‑rate product.
The property was built in 1978, slightly newer than the neighborhood’s average vintage. Investors should underwrite capital planning for aging systems and evaluate targeted renovations that can unlock value‑add upside and improve competitive positioning versus newer assets.
Safety performance is relatively favorable in context: the neighborhood sits around the 76th percentile nationally (top quartile), and its metro placement is competitive among Los Angeles neighborhoods (ranked 345 out of 1,441). Based on CRE market data from WDSuite, both violent and property offense rates posted notable one‑year declines, a supportive signal for renter retention if trends persist.
Investors should still confirm micro‑location conditions during diligence and assess practical measures such as lighting, access controls, and on‑site management to maintain these dynamics.
Nearby corporate offices anchor a diversified employment base that supports white‑collar renter demand and commute convenience, including Thermo Fisher Scientific, Farmers Insurance Exchange, AECOM, Live Nation Entertainment, and Occidental Petroleum.
- Thermo Fisher Scientific — corporate offices (3.2 miles)
- Farmers Insurance Exchange — corporate offices (3.7 miles) — HQ
- Occidental Petroleum — corporate offices (9.6 miles) — HQ
- AECOM — corporate offices (10.6 miles) — HQ
- Live Nation Entertainment — corporate offices (10.6 miles) — HQ
This 44‑unit asset benefits from neighborhood fundamentals that support stable tenancy: top‑quartile occupancy, strong amenity access, and a renter‑heavy housing mix that deepens the tenant base. Elevated home values relative to incomes in the neighborhood reinforce reliance on multifamily, while current rent levels suggest pricing power that should be balanced with proactive lease management. According to commercial real estate analysis from WDSuite, these dynamics compare favorably with broader metro patterns for stabilized Class B stock.
Built in 1978, the property presents value‑add potential through targeted renovations and system updates, positioning it competitively against newer deliveries. Within a 3‑mile radius, household counts are rising and projected to increase further as household sizes trend smaller, which typically supports renter pool expansion and occupancy stability despite softer population growth.
- Top‑quartile neighborhood occupancy supports consistent leasing and income stability
- Renter‑occupied share is high, indicating depth of demand for multifamily units
- 1978 vintage offers value‑add potential via targeted renovations and system upgrades
- Household growth within 3 miles and smaller household sizes support a larger renter pool
- Risks: limited park access, modest school ratings, and the need for careful lease management at upper‑percentile rent levels