18018 Schoenborn Street

Northridge, CA 91325

$1,425,000
Price
10
Beds
6
Baths
4,800 Sq. Ft.
$297 / Sq. Ft.
4,800
Sq. Ft.
$297
per Sq. Ft.

Description

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...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.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 18018 Schoenborn Street

Zoning
LAR3
Parcel Number
2787006014
Total Units
6.0
Living Area
4800
Source Living Area
Vendor Enhanced
Area
Northridge (NR)
Vacancy Rate
3%
Lot Size Area
7322

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute
LISTING UPDATED: 03/23/2024 12:01 AM

Property Details for 18018 Schoenborn Street

StatusActive
MLS #24-369343
Days on Market44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.17 AC / 7,322 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute

Building Information for 18018 Schoenborn Street

Stories2Residences-Year Built1958Building Size-Lot Size0.17 AC / 7,322 SF

Payment Calculator

$8,651 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,777

Property Taxes

$874

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 18018 Schoenborn Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Market
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $104,145
  • Net Operating Income: $66,118.00
  • Gross Income: $107,366
  • Cap Rate: 4.64%
  • Gross Rent Multiplier: $13.27
  • Total Annual Expense: 38027
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1681
  • Lot Size Square Feet: 7322
  • Lot Size Dimensions: 61x120
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 6
  • Carport Spaces Total: 6
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-15-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,185.00
  • Unit Actual Rent: $2,369.00
  • Unit Projected Rent: $3,600.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,645.00
  • Unit Actual Rent: $6,578.00
  • Unit Projected Rent: $8,800.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $480,148.00
  • Assessed Improvement Percent: 61.11
  • Assessed Land Value: $305,554.00
  • Assessed Land Percent: 38.89
  • Assessed Total Value: $785,702.00

Property History for 18018 Schoenborn Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 18018 Schoenborn Street

Taxable ValueLand$305,554Additions$480,148Total$785,702
Tax Record2023$10,493 ($874 / month)
Home Facts
Total Finished SqFt4,800 SqFtAbove Grade Finished SqFt4,800 SqFtLot Size7,320 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLAR3CountyLOS ANGELESAPN2787-006-014

Schools near 18018 Schoenborn Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Cantara Street Elementary School
PublicK to 5

Northridge Middle School
Public6 to 8

Northridge Academy High
Public9 to 12

Valley Academy Of Arts And Sciences
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

18018 Schoenborn Street is a multi-family home for sale in Northridge, CA 91325. This property was listed for sale on March 15, 2024 by Marcus & Millichap, it's currently listed at $1,425,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Cantara Street Elementary School, Northridge Middle School and Northridge Academy High. 18018 Schoenborn Street is a 10-bed, 6-bath, 4,800 sqft multi-family home built in 1958.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.