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    8615 Balboa Blvd Northridge, CA 91325

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    For Sale
    $7,825,000

    54-unit apartment building with value-add potential in Northridge, California.

    Property size:
    32,452 SF

    Property Features for 8615 Balboa Blvd

    General Information

    Size
    32,452 SF

    Building Details

    Year built
    1964

    Source: Mike Salerno Agent Mike Salerno

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Northridge Multifamily Investment Opportunity

    Located in Northridge, California, this multifamily property features 54 units plus 1 non-conforming unit. The property, consisting of 43 singles, 10 one-bedroom, one-bath units, and 2 two-bedroom, one-bath units, offers a value-add opportunity with rents below market value. The building has a total area of 32,452 square feet and is situated on a 38,701 square foot lot. The property includes new water heaters and electrical panels, and there is potential to add ADUs. Each unit is equipped with wall air conditioning. There are 54 parking spots available. Common areas include new carpet in the entry and hallways, an on-site laundry facility, and a large second-floor patio area overlooking the pool. The property is centrally located in the San Fernando Valley, north of Roscoe, and is near California State University, Northridge, Matador Bowl, and the Northridge Fashion Square Mall. It is also close to shops, restaurants, and offers easy freeway access. The property is being offered with an additional 40 units located at 8567 Balboa Blvd.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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
    -118.519
    Latitude
    34.2368

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    FAQs

    What type of property is this?
    Apartment building - 54-unit apartment building with value-add potential in Northridge, California.
    Where is this apartment building located?
    The property is located at 8615 Balboa Blvd Northridge, CA.
    What is the asking price?
    The asking price for this property is $7,825,000.
    What are key features of this property?
    This property features: - Significant Rental Upside: Rents are 45% below market, presenting a substantial value-add opportunity.; - Large Multi-Unit Property: 54 units (plus 1 non-conforming) on a 38,701 sq ft lot.; - Value-Add Potential: Opportunity to add ADUs to increase unit count and revenue.
    (310) 200-1309
    Request Owner's contact information
    8615 Balboa Blvd Northridge, CA 91325
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    Northridge, CA 91325
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    Realmo Value Estimation

    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.

    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.

    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
    8615 Balboa Blvd Northridge, CA 91325
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