Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

16

Lot size

7,230 sqft

Year built

1986

Stories

2

Garage spaces

24

Style

Traditional

Cooling

Central Air

Status

Active

Days on market

6

MLS #

248174898

About this property

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

18356 Napa Street

Northridge, Los Angeles, CA, 91325