8523 Etiwanda Avenue

8523 Etiwanda Avenue

Northridge, CA 91325

$10,000,000
Price
78
Beds
48
Baths
38,234 Sq. Ft.
$262 / Sq. Ft.
38,234
Sq. Ft.
$262
per Sq. Ft.
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Description

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...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.
  1. Listed by Robert Renshaw • DRE #01332831 • Brokerage DRE #01164364 • REMAX COMMERCIAL & INVESTMENT REALTY

Property Details for 8523 Etiwanda Avenue

Zoning
LAR3
Parcel Number
2786007014
Total Units
48.0
Living Area
38234
Source Living Area
Assessor
Area
Northridge (NR)
Vacancy Rate
4.2%
Lot Size Area
48613

Location

Listing Courtesy of REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831
Add your commute
LISTING UPDATED: 04/27/2024 12:01 AM

Property Details for 8523 Etiwanda Avenue

StatusActive
MLS #24-382149
Days on Market15
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size1.12 AC / 48,613 SF
CountyLos Angeles County

Location

Listing Courtesy of REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831
Add your commute

Building Information for 8523 Etiwanda Avenue

Stories2Residences-Year Built1964Building Size-Lot Size1.12 AC / 48,613 SF

Payment Calculator

$62,662 per month

30 year fixed, 7.25% Interest

Principal and Interest

$54,574

Property Taxes

$8,088

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8523 Etiwanda Avenue

Community / Development
Community / Development
  • Number Of Units: 48
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $893,742
  • Net Operating Income: $470,885.00
  • Gross Income: $908,974
  • Gross Rent Multiplier: $11.00
  • Total Annual Expense: 422857
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 1.1166
  • Lot Size Square Feet: 48613
  • Lot Size Dimensions: 165x295
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 47
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,635.00
  • Unit Actual Rent: $50,682.00
  • Unit Projected Rent: $74,400.00
  • Like Units: 31
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,491.00
  • Unit Actual Rent: $23,863.00
  • Unit Projected Rent: $32,000.00
  • Like Units: 16
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,200.00
  • Unit Actual Rent: $1,200.00
  • Unit Projected Rent: $1,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $4,029,975.00
  • Assessed Improvement Percent: 52.76
  • Assessed Land Value: $3,608,934.00
  • Assessed Land Percent: 47.24
  • Assessed Total Value: $7,638,909.00

Property History for 8523 Etiwanda Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 8523 Etiwanda Avenue

Taxable ValueLand$3,608,934Additions$4,044,075Total$7,653,009
Tax Record2023$97,057 ($8,088 / month)
Home Facts
Total Finished SqFt38,234 SqFtAbove Grade Finished SqFt38,234 SqFtLot Size48,625 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR3CountyLOS ANGELESAPN2786-007-014

Schools near 8523 Etiwanda Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Cantara Street Elementary School
Public - K to 5
Northridge Middle School
Public - 6 to 8
Northridge Academy High
Public - 9 to 12
Grover Cleveland Charter High School
Charter - 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

Grover Cleveland Charter High School
Charter9 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.

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More information about 8523 Etiwanda Avenue, Northridge, CA 91325

8523 Etiwanda Avenue is a multi-family home for sale in Northridge, CA 91325. This property was listed for sale on April 19, 2024 by REMAX COMMERCIAL & INVESTMENT REALTY, it's currently listed at $10,000,000. It has been on the market for a total of 15 days and was last sold on October 23, 2012. 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. 8523 Etiwanda Avenue is a 78-bed, 48-bath, 38,234 sqft multi-family home built in 1964.

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 REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831

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.