8523 ETIWANDA AVE
NORTHRIDGE, CA 91325
$10,000,000
78 Beds
48 Baths
38,234 Sq Ft
Status Active
MLS# 24-382149
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.
Details for 8523 ETIWANDA AVE
Built in 1964
$262 / Sq Ft
47 parking spaces
Wall/Window
Wall
34 Days on website
1.1166 acres lot
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Robert Renshaw, 424-293-4770
REMAX COMMERCIAL & INVESTMENT REALTY, 310-802-2500
4:00am UTC- 5/23/2024
The multiple listings information is provided by The MLS/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2024 The MLS/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Area Information for 8523 ETIWANDA AVE
