Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    15240 Nordhoff Street North Hills, CA 91343

    View on Map
    Claim this Listing
    For Sale
    $3,995,000

    Apartment - North Hills, CA

    Type:Apartment
    Property size:
    11,092 SF
    Lot size:
    10,715.00 Acres
    Price / SF:
    $360/SF
    Added:
    Oct 21, 2024
    Days on Market:
    555
    Last Refresh:
    Apr 28 at 11:06 am

    Property Features for 15240 Nordhoff Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Zoning
    LAR3
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Assigned
    Exterior features
    Community Features Included: Sidewalks, Suburban, 11-15 Units/Acre
    Standard status
    Active
    APN
    2654034006
    Size
    11,092 SF
    Lot size
    10,715.00 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1983
    Floors in Building
    1
    Number of units
    14
    Architectural style
    Other

    We can help!

    Listing Contact
    James Antonucci

    Listing agent James Antonucci License #01822661

    Listing office Keller Williams Realty-Studio City 12711 Ventura Blvd., Studio City, CA

    Listing date Oct 21, 2024

    MLS# SR24218194 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    North Hills Multifamily Investment Opportunity

    Located at 15240 Nordhoff St in North Hills, this multifamily property presents an investment opportunity. The building features a mix of residential units, including 2 one-bedroom, one-bath units and 12 two-bedroom, two-bath units. The property is subject to statewide rent control and offers rental upside potential. Residents benefit from a secure, gated entry, on-site parking with additional storage, and on-site laundry facilities. Each unit is individually metered for gas and electricity. The property's location provides accessibility to major freeways (I-5, I-405, and CA-118), Panorama Mall, Van Nuys Airport, and the Ventura County Line Metrolink. The property is situated on a lot of approximately 0.24 acres. The building has a total area of 11092 square feet. The zoning is LAR3. This property is an income-generating property with room for growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Hills
    County
    Los Angeles
    State
    California
    Longitude
    -118.46467
    Latitude
    34.23534

    Nearby Similar for Sale

    • $1,395,000
      3,226 SF

      Modern Multi-Unit Property in North Hills

      Gated property with three permitted units, ideal for investors.
      16233 Parthenia St, North Hills, CA 91343
      View Details
    • $990,000
      14,305 SF

      Prime Retail Strip Development Opportunity

      High-density development potential near Sepulveda transit corridor.
      15316 Parthenia, North Hills, CA 91343
      View Details
    • $6,280,000
      17,040 SF

      New Construction Multifamily Investment

      New 12-unit apartment building in North Hills, built in 2023.
      8837 Burnet Avenue, North Hills, CA 91343
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-located North Hills apartment building with rental upside potential.
    Where is this apartment building located?
    The property is located at 15240 Nordhoff Street North Hills, CA.
    What is the asking price?
    The asking price for this property is $3,995,000.
    What are key features of this property?
    This property features: Mix of 2 one‑bedroom, one‑bath units and 12 two‑bedroom, two‑bath units.; Excellent North Hills location with rental upside potential.; Convenient access to I‑5, I‑405, and CA‑118 freeways.
    (818) 381-6601
    We can help!
    Listing Contact
    James Antonucci
    Real Estate License ID: 01822661
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!