8523 Etiwanda Ave - Apartments FOR SALE


Northridge, CA 91325
$9,500,000 USD
310-776-0564
8523 Etiwanda Ave, Northridge, CA for Sale
$9,500,000 USD
Apartments - FOR SALE
1/45
null | 5.2% Cap Rate

8523 Etiwanda Ave
Northridge, CA 91325


HIGHLIGHTS

  • 48 units on over 1.1 acres of land
  • 65% 2-Bedroom Units in Prime Northridge
  • Amenities include secure entry. pool, gym, laundry room and pet run
  • Covered parking for 47 cars
  • Soft story retrofit complete

OVERVIEW

Rob Renshaw of RE/MAX Commercial & Investment Realty is pleased to present the opportunity to purchase a stable, professionally managed 48-unit multifamily asset in the heart of the San Fernando Valley with significant future upside potential. Casa Etiwanda is located at 8523 Etiwanda Avenue in Northridge, CA about 25 miles northwest of downtown Los Angeles. This suburban neighborhood has a population of nearly 62,000 with a strong employment base that creates consistent demand for quality rental housing. Casa Etiwanda offers studio, 1-bedroom, and 2-bedroom layouts providing plenty of options for a wide range of renters. The (31) 2-bedroom, 1-bathroom units, (16) 1-bedroom, 1-bathroom units, and (1) studio unit contain features such as laminate flooring, granite counters, window/wall-mounted HVAC, and dishwashers. The property also has on-site parking for 47 vehicles as well as laundry facilities, a barbeque area, a gym, and a swimming pool. The soft story retrofit has recently been completed. Spread across 1.1 acres, Casa Etiwanda provides tenants with plenty of green space and mature landscaping. All areas of the property including the main building, rear building, and parking lots are secured and accessible only to tenants. Guests are provided access via a central intercom system that rings tenants directly from the front entrance. As an investment opportunity, Casa Etiwanda provides buyers with a stable asset that can be easily financed. Furthermore, implementing a comprehensive renovation and reposition strategy for the property offers significant long-term growth potential.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$248 USD /SF

# OF UNITS

48

PRICE/UNIT

$197,917

CAP RATE

5.2%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Casa Etiwanda

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

47

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,613 SF

ZONING

R3-1

APN/PARCEL ID

2786-007-014

ASK ABOUT THIS PROPERTY

Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

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Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

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