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$ 12,600,000
Est. payment /mo
Active
18540 Prairie Street Northridge (los Angeles), CA 91324
43,899 SqFt
UPDATED:
01/24/2025 02:02 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 43,899 sqft
Price per Sqft $287
MLS Listing ID CL25485207
HOA Y/N No
Year Built 1965
Lot Size 1.100 Acres
Acres 1.1
Property Sub-Type Other
Property Description
We are pleased to exclusively present Northridge Manor and Northridge Chalet, a rare opportunity to acquire a value-add portfolio of 54 units located at 18551 and 18540 Prairie Street in Northridge, California. This unique offering includes two adjacent mid-century properties situated in the heart of Northridge, just blocks away from California State University, Northridge (CSUN), making them ideal investments for value-add strategies. Built in the 1960s and available on the open market for the first time, the properties are located on a combined 48,090-square-foot lot and consist of two two-story buildings featuring an expansive interior courtyard, a swimming pool, parking for each unit, and shared on-site laundry facilities. The desirable unit mix includes 2 studio apartments, 34 one-bedroom/one-bathroom units, 6 two-bedroom/1.5-bathroom units, and 12 two-bedroom/two-bathroom units. Recent improvements, such as soft-story retrofitting, upgraded copper plumbing, electrical subpanel upgrades, and new heating systems, ensure long-term operational stability. With most units in classic or moderately renovated condition, investors have the opportunity to capture approximately 21% upside in rents by implementing high-end finishes that are sought after by modern renters and CSUN studen
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Floor Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 2763009009
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Filip Niculete • Marcus & Millichap