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    The Largest CRE Database in the US with Over 1 Million Listings

    16233 Parthenia St Northridge, CA 91343

    Sponsored
    For Sale
    $1,395,000

    MULTI_FAMILY - North Hills, CA

    Property size:
    3,226 SF
    Lot size:
    0.17 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 24 at 6:06 pm

    Property Features for 16233 Parthenia St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Window features
    Double Pane Windows
    Zoning
    LARS
    Rooms
    Bathroom 7, Bedroom 7, Bedroom 6, Bathroom 4, Bathroom 8, Bedroom 2, Bedroom 4, Bathroom 6, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 3
    Bedrooms
    7
    Bathrooms
    8
    APN
    2688-016-013
    Parking
    3
    Parking features
    Side By Side, Driveway
    Fireplace
    1
    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

    Estate Properties (310) 802-2285

    Listing agent Shengnan Li (310) 577-5300 License #02164777

    Listing date Jan 23, 2026

    MLS# 25607929

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

    Learn more

    Property Insight Report

    Overview

    North Hills Multifamily Investment Opportunity

    This multifamily property in North Hills, California, features three homes on a single lot. The property includes an approximately 1,550 square foot upgraded main house with 4 bedrooms and 4 bathrooms, currently tenant-occupied on a month-to-month lease. Additionally, there is an approximately 1,200 square foot newly built Accessory Dwelling Unit (ADU) with 2 bedrooms and 2.5 bathrooms, and an approximately 476 square foot newly built Junior ADU with 1 bedroom and 1 bathroom. Both ADUs are vacant. All construction was completed with permits. A 120 square foot shed provides dedicated storage space. Each unit has its own separate address and utilities. The property is located in the desirable North Hills neighborhood, offering convenient access to shopping, dining, recreation, and major transportation routes. The lot size is 0.1681 acres. The front yard features drought-tolerant landscaping. Eco-friendly enhancements include leased solar panels, double-pane windows, and new insulation. All units include brand-new appliances and their own washer/dryer. The property, with a total size of 3,226 square feet, offers excellent cash-flow potential and is highly rentable. The zoning is LARS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Northridge
    County
    Los Angeles
    State
    California
    Longitude
    -118.486251
    Latitude
    34.228676

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    FAQs

    What type of property is this?
    Multifamily property - Three homes on one lot in North Hills, CA.
    Where is this multifamily property located?
    The property is located at 16233 Parthenia St Northridge, 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 separate rentable units on one lot: a 4B/4B main house, a 2B/2.5B ADU, and a 1B/1B Junior ADU, all with permits.; - Excellent cash-flow potential with separate addresses and utilities for each unit.; - All units extensively remodeled with brand-new appliances and in-unit washer/dryers.
    (310) 802-2260
    Request Owner's contact information
    16233 Parthenia St Northridge, CA 91343
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    Northridge, CA 91343
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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
    16233 Parthenia St Northridge, CA 91343
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    We can help!
    Listing Contact
    Shengnan Li
    Real Estate License ID: 02164777
    (310) 802-2260
    Learn more
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