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Multifamily

8371 Northgate Avenue

8371 Northgate Avenue, Canoga Park, CA 91304

Listing Price: $4,550,000

Cap Rate
4.61%
Number of Units
22
GRM
11.44
Occupancy
95.0%
Price/Unit
$206,818
Price/Gross SF
$285.80
Gross SF
15,920

Investment Overview

The subject property is a 22 unit apartment building located at 8371 Northgate Avenue, Canoga Park, CA 91304. The property was built in 1964 and is located North of Roscoe Boulevard and just east of Topanga Canyon Boulevard on a cul de sac. The unit mix consists of thirteen one-bedroom/one-bath units, five two-bedroom/one-bath units, one two-bedroom/one and a half-bath unit, two two-bedroom/two-bath units, and one three-bedroom/two-bath unit. The building has an interior courtyard. There is a laundry room and the laundry machines are owned by the Seller.

There is an assumable loan with Luther Burbank Savings in the amount of $1,500,000, fixed at 3.80% interest only, through August 2025, then the loan adjusts. The maturity date is August 1, 2050 and the amortization is 30 years.

Investment Highlights

  • Good Mix
  • Interior Courtyard
  • Laundry Room and the laundry machines are owned by the Seller

Exclusively Listed By

Financing By

Multifamily

8371 Northgate Avenue

Listing Price: $4,550,000

Cap Rate
4.61%
Number of Units
22
GRM
11.44
Occupancy
95.0%
Price/Unit
$206,818
Price/Gross SF
$285.80
Gross SF
15,920

Investment Highlights

  • Good Mix
  • Interior Courtyard
  • Laundry Room and the laundry machines are owned by the Seller

Investment Overview

The subject property is a 22 unit apartment building located at 8371 Northgate Avenue, Canoga Park, CA 91304. The property was built in 1964 and is located North of Roscoe Boulevard and just east of Topanga Canyon Boulevard on a cul de sac. The unit mix consists of thirteen one-bedroom/one-bath units, five two-bedroom/one-bath units, one two-bedroom/one and a half-bath unit, two two-bedroom/two-bath units, and one three-bedroom/two-bath unit. The building has an interior courtyard. There is a laundry room and the laundry machines are owned by the Seller. There is an assumable loan with Luther Burbank Savings in the amount of $1,500,000, fixed at 3.80% interest only, through August 2025, then the loan adjusts. The maturity date is August 1, 2050 and the amortization is 30 years.

Exclusively Listed By

Financing By

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