8523 Etiwanda Avenue, Northridge
Northridge Home For Sale
NEW PRICING! $500,000 REDUCTION! 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.
Property Details
Additional Information
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- City:
- Northridge
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- County:
- Los Angeles
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- Zip:
- 91325
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- MLS® #:
- 24382149
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- Bedrooms:
- 3
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- Bathrooms:
- 3
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- Square Ft:
- 38,234
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- Lot Size:
- 1.12
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- Levels:
- Two
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- HOA Dues:
- $
Price Change History for 8523 Etiwanda Avenue, Northridge, (MLS® #24382149)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $10,000,000) | $9,500,000 | $500,000 (5.00%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 30th, 2024 at 10:15am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.