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Listed by Jason Vollmer • Beverly and Company Inc.
$ 3,975,000
Est. payment | /mo
10 Beds
8 Baths
4,480 SqFt
$ 3,975,000
Est. payment | /mo
10 Beds
8 Baths
4,480 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,480 sqft
Price per Sqft $887
MLS Listing ID 226004827
Style Traditional,Other
Bedrooms 10
Full Baths 8
Year Built 1986
Lot Size 7,230 Sqft
Source Conejo Simi Moorpark Association of REALTORS®
Property Description
Value-Add 16-Unit Multifamily Investment in Northridge. 18356-18360 Napa Street presents an exceptional opportunity to acquire a well-maintained 16-unit multifamily asset consisting of two buildings on separate lots with approximately 8,960 SF of rentable space on a combined 14,400 SF lot. The property features an attractive unit mix of twelve 1-bedroom/1-bath units and four 2-bedroom/1-bath units, 24 parking spaces, shared laundry, and a reported non-RSO status. Built in 1986, the property has benefited from meaningful capital improvements including copper plumbing throughout and the mainline, two newer water heaters, a roof tune-up, and low-flow toilets. The investment offers immediate and future rental upside, with multiple units positioned for rent increases and one unit currently being remodeled/vacant. There may also be potential for an ADU at the rear, subject to buyer verification. Ideally located near CSUN, shopping, dining, entertainment, and major transportation corridors including the 101 and 405 freeways. Offered at $3,975,000, the property represents approximately a 6.28% current cap rate and 7.50% pro forma cap rate, based on the supplied rent roll and operating expenses. An excellent opportunity to acquire a well-located Northridge multifamily asset with current income, rental upside, and long-term value-add potential.
Location
State CA
County Los Angeles
Area Nr - Northridge
Interior
Cooling Central A/C, Wall or Window Units
Flooring Wood/Wood Like, Other
Laundry Individual Room, Laundry Area
Exterior
Exterior Feature Balcony
Parking Features Driveway, Covered Parking
Garage Spaces 24.0
View Y/N No
Building
Lot Description 2 - 4 Lots, Automatic Gate, Exterior Security Lights, Fully Fenced
Story 2
Sewer Other, Public Sewer
Nearby Locations
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114