8615 Balboa Blvd Northridge, CA 91325
54-unit apartment building with value-add potential in Northridge, California.
Property size:
32,452 SFProperty Features for 8615 Balboa Blvd
General Information
- Size
- 32,452 SF
Building Details
- Year built
- 1964
Source:
Lee-associates
Listing 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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Northridge
- County
- Los Angeles
- State
- California
- Longitude
- -118.519
- Latitude
- 34.2368
Nearby Similar for Sale
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.