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    8745 Parthenia Pl Northridge, CA 91343

    For Sale
    $4,500,000

    Delivered RTI 55-unit multifamily development in San Fernando Valley.

    Lot size:
    0.30 Acres

    Property Features for 8745 Parthenia Pl

    General Information

    Lot size
    0.30 Acres

    Source: Coldwell Banker Realty Agent Muhammad Faisal

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

    Overview

    Ready-to-Issue Permits Multifamily Development

    This property features a 13,128 square foot lot with C2-1 zoning. It is a delivered RTI (Ready-to-Issue Permits) project for a 55-unit multifamily development, including 6 ELI units. The development consists of 6 stories over a 1-level basement garage. Parking includes 28 auto spaces, 51 bike spaces (45 long-term, 6 short-term), 10 EV spaces, and 1 ADA-accessible space. The unit mix comprises 5 studios (approximately 397 SF), 35 one-bedroom/one-bath units (486-880 SF), and 15 two-bedroom/two-bath units (1,038-1,150 SF). Open space includes 3,000 SF of balconies and a 1,500 SF roof deck, totaling 4,500 SF provided after TOC reduction. The required open space is 5,875 SF. TOC Tier 3 incentives have been utilized, and no guest parking is required. The property is centrally located in the San Fernando Valley, close to transit, freeways, and amenities.
    Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Northridge
    County
    Los Angeles
    State
    California
    Longitude
    -118.46605
    Latitude
    34.22896

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    FAQs

    What type of property is this?
    Land - Delivered RTI 55-unit multifamily development in San Fernando Valley.
    Where is this land located?
    The property is located at 8745 Parthenia Pl Northridge, CA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - Fully RTI (Ready-to-Issue Permits) for a 55-Unit Multifamily Development; - TOC Tier 3 Incentives Used, reducing parking and open space requirements; - Favorable Unit Mix: Studios, 1 Bed/1 Bath, and 2 Bed/2 Bath units
    (818) 995-2424
    Request Owner's contact information
    8745 Parthenia Pl Northridge, CA 91343
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    Northridge, CA 91343
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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
    8745 Parthenia Pl Northridge, CA 91343
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