19236-19248 Parthenia St - Apartments FOR SALE


Northridge, CA 91324
$8,500,000 USD
909-418-2071
19236-19248 Parthenia St, Northridge, CA for Sale
$8,500,000 USD
Apartments - FOR SALE
1/42
null | 3.46% Cap Rate

19236-19248 Parthenia St
Northridge, CA 91324


HIGHLIGHTS

  • Desirable Rental Location in the City of Northridge
  • 36 Units on a Large ±31,454 SF Lot in a Tier 1 TOC with Potential to add ADUs
  • Excellent Unit Mix Featuring One, Two and Three Bedroom Floor Plans | Generous Average Unit Size of 874 Gross Square Feet
  • Value-Add Opportunity | Potential to Almost Double the Income through Interior & Exterior Renovations
  • Steady Multifamily Rent Growth Year-Over-Year in Northridge
  • Conveniently Located Near Cal State University Northridge, the Metrolink Northridge Station, the Northridge Fashion Center, and Northridge Hospital

OVERVIEW

CBRE is proud to exclusively present a multifamily opportunity to acquire two apartment buildings located at 19236 and 19248 Parthenia Street in the city of Northridge. Situated next to one another, both properties are on the southeast corner of Parthenia and Tampa. The highly desirable location in Northridge provides easy access to the 118, 405 and 101 Freeways and are in a just a short 5-minute drive to popular restaurants, shopping centers, and top-ranked educational institutions. Located in the heart of Northridge, the properties are near Cal State University Northridge, the Metrolink Northridge Station, the Northridge Fashion Center, and Northridge Hospital. 19236 and 19248 Parthenia Street offer convenient access to the neighboring cities within the San Fernando Valley, Los Angeles County and Ventura County and is conveniently positioned with just a short drive to Burbank, Calabasas, North Hollywood and Glendale. Significant local landmarks within a 20-mile radius include: Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. Totaling 36-units, 19236 and 19248 Parthenia Street are well-maintained, 2-story properties, built in 1962. A double lot situated on ±39,298 square feet of land and a total building size of ±31,454 square feet, the properties features a unique unit mix of one-bed/one-bathroom, two-bed/two-bathroom, and three-bed/two-bathroom units averaging 874 gross square feet. Many units have been upgraded with modern finishes. All units feature high-speed Internet access, wall air conditioning and heating, ceiling fans, vertical blinds and kitchens with quality appliances. The building features on-site laundry, carport parking and a pool with mature landscaping.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

36

PRICE/UNIT

$236,111

CAP RATE

3.46%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parthenia Twins

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,298 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

2784-022-029,2784-022-030

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.