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    16233 Parthenia St North Hills, CA 91343

    View on Map
    New
    For Sale
    $1,395,000

    MULTI_FAMILY - North Hills, CA

    Property size:
    3,226 SF
    Lot size:
    0.17 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 7 at 6:06 am

    Property Features for 16233 Parthenia St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    LARS
    Bedrooms
    7
    Bathrooms
    8
    Rooms
    Bathroom 7, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 6, Bedroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 3, Bedroom 7, Bedroom 6, Bathroom 8, Bedroom 2
    Parking
    3
    Parking features
    Side By Side, Driveway
    Window features
    Double Pane Windows
    Fireplace
    1
    Standard status
    Active
    APN
    2688-016-013
    Size
    3,226 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1957
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Laminate, Tile

    We can help!

    Listing Contact
    Shengnan Li

    Listing agent Shengnan Li License #02164777

    Listing office Estate Properties 124 Washington Blvd., Rancho Palos Verdes, CA

    Listing date Apr 6, 2026

    MLS# 26673137

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Modern Multi-Unit Property in North Hills

    This modern, gated property features three fully permitted and extensively remodeled units on one lot, suitable for multi-generational living or rental income. Each unit has its own address and separate utilities. The units include stainless steel appliances and an LG in-unit washer/dryer. The property consists of an approximately 1,550 sq.ft. upgraded main house with 4 bedrooms and 4 bathrooms, an approximately 1,200 sq.ft. newly built ADU with 2 bedrooms and 2.5 bathrooms, and an approximately 476 sq.ft. newly built Junior ADU with 1 bedroom and 1 bathroom, all constructed with permits. Additionally, there is an approximately 120 sq.ft. shed for storage. The front yard features drought-tolerant landscaping. Eco-friendly features include leased solar panels, double-pane windows, and new insulation. Located in North Hills, the property offers access to shopping, dining, recreation, and major transportation routes. The lot size is 0.1681 acres. The property size is 3,226 square feet. The property is zoned LARS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    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
    -118.486251
    Latitude
    34.228676

    Nearby Similar for Sale

    • $1,395,000
      3,226 SF

      North Hills Multifamily Investment Opportunity

      Three homes on one lot in North Hills, CA.
      16233 Parthenia St, 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
    • $3,995,000
      11,092 SF

      North Hills Multifamily Investment Opportunity

      Well-located North Hills apartment building with rental upside potential.
      15240 Nordhoff Street, North Hills, CA 91343
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Gated property with three permitted units, ideal for investors.
    Where is this multifamily property located?
    The property is located at 16233 Parthenia St North Hills, CA.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Three fully permitted units on one lot: main house, ADU, and Junior ADU.; Each unit features its own address, separate utilities, stainless steel appliances, and in‑unit LG washer/dryer.; Turn‑key condition after extensive remodeling and new construction of ADU and Junior ADU.
    (310) 691-4808
    We can help!
    Listing Contact
    Shengnan Li
    Real Estate License ID: 02164777
    Learn More
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    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
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