18018 Schoenborn Street , Northridge, CA - 91325, Northridge CA is for sale :

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Dmitry Litvishkov (310)-709-4920

18018 Schoenborn Street , Northridge, CA - 91325 is For Sale

Details

Price : $1,425,000

Address : 18018 Schoenborn Street

City : Northridge

State : CA

Area : Nr - Northridge

Property Type : Residential Income

Sq M : 680 M²

Total Units : 6

CAP rate : $5

Gross Operating Income : $104,145

Net Operating Income : $66,118

MLS# : 24369343

Lot Size (Acres) : 0.1681 ac

Property Description

Northridge Home For Sale. We are 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 minutes from 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.

Listed By

Marcus & Millichap

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