8523 Etiwanda Avenue

Northridge, CA 91325

$10,000,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $261 / sqft

1964

calendar_month Built

Property Description

We are 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 barbecue 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. In addition to obtaining new debt, a buyer might consider assuming the existing Chase loan with a balance of $4,500,000 and a fixed rate of 3.7% with interest-only payments until July 2025. Furthermore, implementing a comprehensive renovation and reposition strategy for the property offers significant long-term growth potential.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 8523 Etiwanda Avenue
City Northridge
State CA
Zip 91325
County Los Angeles
Listing Agent Robert Renshaw DRE#01332831
Courtesy Of REMAX COMMERCIAL & INVESTMENT REALTY
MLS 24382149
List Price $10,000,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 48,613
Year Built 1964
DOM 8

Exterior Information

Maps

Listing information courtesy of: Robert Renshaw, REMAX COMMERCIAL & INVESTMENT REALTY . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 27th, 2024 at 5:14 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.