Property Detail

Description

40 units in Northridge. Great value-add opportunity. Long term owner - first time on the market in more than 35 years. Large units - 40,606 sq.ft. of building. HUGE UPSIDE - RENTS ARE 40%BELOW MARKET. Excellent unit mix (17 - 1bd +1ba, 1 - 2bd+1ba,18 - 2bd+2ba & 4 - 2bd+2.5ba townhouse units). The property was built in 1963 and it sits on a 43,288 square foot lot. Units have patios and balconies. The pool has recently been redone with new plaster and tiles. On site laundry. Individually metered for gas and electricity. New water heaters. Copper horizontal pipes. There is parking for 63 vehicles. Potential to add ADUs. The property is centrally located in the San Fernando Valley. Close to California State University, Northridge, Matador Bowland the Northridge Fashion Square Mall. Close to shops, restaurants and easy freeway access. Excellent assumable loan with Chase. Approximate balance -$3,356,863, 3.54% fixed until 7/1/2029. Current monthly payment is $16,015. PROPERTY CAN BE PURCHASED WITH 54 UNITS LOCATED AT 8615 BALBOA BLVD. This is a great opportunity to acquire 94 units in a prime San Fernando Valley location.