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Multifamily

18018 Schoenborn

18018 Schoenborn St, Los Angeles, CA 91325

Listing Price: $1,425,000

Cap Rate
4.64%
Number of Units
6
GRM
13.27
Price/Unit
$237,500
Price/Gross SF
$296.88
Gross SF
4,800

Investment Overview

Marcus & Millichap is pleased to present 18018 Schoenborn St, a 6 unit multifamily property in Northridge, CA. Built in 1958, this 4,800 square foot property sits on a 7,320 square foot lot (0.17 acres), and it boasts a strong unit mix with (4) 2 bed / 1 bath units and (2) 1 bed / 1 bath units. The property offers parking at the rear alley of the lot with 6 gated carport parking spots, 1 spot per unit.

This listing provides an investor a great value-add opportunity. The current mom-and-pop owner, who's owned this property for more than 30 years, has never tried to maximize rents on the property, opting for a more relaxed approach towards the tenants to avoid management headaches. This provides the buyer an opportunity to capture this nearly 40% upside potential in rents. Also, a savvy investor could consider adding an ADU to this property where the parking is in the back alley.

18018 Schoenborn is located in a safe, family friendly neighborhood, directly across the street from Northridge Middle School and within walking distance to Northridge Hospital Medical Center. It's just a short drive away from California State University, Northridge (CSUN) and the Northridge Fashion Center. The property offers a great place to live for tenants who commute to work with easy access to major freeways, including the 405 and 118, facilitating easy access throughout Los Angeles and beyond.

Investment Highlights

  • Built in 1958 | RSO Property
  • Value Add - 40% Upside
  • Unit Mix: (4) 2 Bed & (2) 1 Bed
  • Hasn't Been Sold in 30+ Years
  • Separate Meters for Gas & Electric
  • Alleyway Behind Property
  • 6 Gated Carport Parking Spots
  • Near CSUN & Northridge Hospital

Exclusively Listed By

Financing By

Multifamily

18018 Schoenborn

Listing Price: $1,425,000

Cap Rate
4.64%
Number of Units
6
GRM
13.27
Price/Unit
$237,500
Price/Gross SF
$296.88
Gross SF
4,800

Investment Highlights

  • Built in 1958 | RSO Property
  • Value Add - 40% Upside
  • Unit Mix: (4) 2 Bed & (2) 1 Bed
  • Hasn't Been Sold in 30+ Years
  • Separate Meters for Gas & Electric
  • Alleyway Behind Property
  • 6 Gated Carport Parking Spots
  • Near CSUN & Northridge Hospital

Investment Overview

Marcus & Millichap is pleased to present 18018 Schoenborn St, a 6 unit multifamily property in Northridge, CA. Built in 1958, this 4,800 square foot property sits on a 7,320 square foot lot (0.17 acres), and it boasts a strong unit mix with (4) 2 bed / 1 bath units and (2) 1 bed / 1 bath units. The property offers parking at the rear alley of the lot with 6 gated carport parking spots, 1 spot per unit. This listing provides an investor a great value-add opportunity. The current mom-and-pop owner, who's owned this property for more than 30 years, has never tried to maximize rents on the property, opting for a more relaxed approach towards the tenants to avoid management headaches. This provides the buyer an opportunity to capture this nearly 40% upside potential in rents. Also, a savvy investor could consider adding an ADU to this property where the parking is in the back alley. 18018 Schoenborn is located in a safe, family friendly neighborhood, directly across the street from Northridge Middle School and within walking distance to Northridge Hospital Medical Center. It's just a short drive away from California State University, Northridge (CSUN) and the Northridge Fashion Center. The property offers a great place to live for tenants who commute to work with easy access to major freeways, including the 405 and 118, facilitating easy access throughout Los Angeles and beyond.

Exclusively Listed By

Financing By

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