Thank you
Robert Renshaw
REMAX COMMERCIAL & INVESTMENT REALTY
310-802-2500
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.
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Total Bedrooms : 78
Total Baths: 48
Full Baths: 0
Half Baths: 0
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Year Built: 1964
Building Area Total: 38,234
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 1.116
Lot Size Dimensions: 165x295
Lot Size Source: Assessor
Lot Size Square Feet: 48613
Original List Price: 10,000,000
Listing Contract Date: 2024-04-19
Listing Agreement: Exclusive Right To Sell
Parcel Number: 2786007014
Garage Description: Carport
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: NR - Northridge
Directions: Etiwanda at Chase
Zoning: LAR3
Source Property Type: Residential Income
Area: NR - Northridge
Property Age: 60
Year Built Source: Vendor Enhanced
Total Square Feet Living: 38234
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
18175 Eccles Street, Northridge, CA,91325 | $1,170,000 | 6 | 3 | 2,234 | 9500 Sqft |
17127 Gledhill Street, Northridge, CA,91325 | $1,299,000 | 5 | 4 | 3,024 | 11710 Sqft |
8503 18105 Lindley Avenue, Northridge, CA,91325 | $1,070,000 | 4 | 3 | 1,632 | 6994 Sqft |
18000 Parthenia Street, Northridge, CA,91325 | $1,868,000 | 4 | 4 | 3,244 | 29877 Sqft |
17246 Devonshire Street, Northridge, CA,91325 | $1,099,000 | 4 | 3 | 2,494 | 10578 Sqft |
17509 Stare Street, Northridge, CA,91325 | $1,450,000 | 4 | 2 | 2,080 | 11066 Sqft |
10228 Amestoy Avenue, Northridge, CA,91325 | $1,399,000 | 4 | 2 | 2,094 | 11108 Sqft |
18018 Schoenborn Street, Northridge, CA,91325 | $1,425,000 | 10 | -- | 4,800 | 7322 Sqft |
18256 Sunburst Street, Northridge, CA,91325 | $1,299,000 | 3 | 2 | 2,699 | 8453 Sqft |
17546 Cantara Street, Northridge, CA,91325 | $888,888 | 4 | 2 | 1,461 | 6062 Sqft |
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ByOwner last updated this listing 05/18/2024 @ 07:34
MLS: 24382149
LISTED BY: Robert Renshaw, REMAX COMMERCIAL & INVESTMENT REALTY
SOURCE: CRMLS
Buyer Agency Compensation: 1.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.