15216 Nordhoff Street

    North Hills, CA 91343
    • $5,095,000
    • STATUS: Active Under Contract
    • ON SITE: 118 days
    • ID#: 18375500
    Under Contract
    UPDATED: 46 min ago
    $5,095,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,326
      SQFT
    • $332
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1985
    County:

    School Ratings & Info

    Description

    We are pleased to announce the sale of 15216 Nordhoff Street, a 19-unit multifamily property located on a major thoroughfare in the North-Central San Fernando Valley. Due to its 1985 construction, the property is not subject to Los Angeles rent control, providing an investor the opportunity to more immediately capitalize on surging rents in the Valley submarket.With a desirable unit mix, including 11 two bedroom units and 8 one bedroom units, the property provides an investor the opportunity to tap into the strong rental demographics of North Hills, where vacancy rates currently sit at approximately 2.8%. This historically low vacancy rate coupled with the dense existing renter pool within this infill market has helped effective rents to climb 5.5% year-over-year through the second quarter of 2018.All units include their own individual water heater, helping to limit the owner's utility expense, while several units have their own balcony.

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    Based on information from CARETS as of 2018-12-11T08:43:41.793. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.scvnest.com/homes/86538022

    15216 Nordhoff Street North Hills, CA 91343

    • Price: $5,095,000
    • Status: Active Under Contract
    • Updated: 46 min ago
    • ID#: 18375500
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    15,326
    SQFT
    $332
    $/SQFT
    1985
    Built
    Neighborhood:
    North Hills (Noh)
    County:
    Los Angeles
    Area:
    North Hills (Noh)
    Property Description
    We are pleased to announce the sale of 15216 Nordhoff Street, a 19-unit multifamily property located on a major thoroughfare in the North-Central San Fernando Valley. Due to its 1985 construction, the property is not subject to Los Angeles rent control, providing an investor the opportunity to more immediately capitalize on surging rents in the Valley submarket.With a desirable unit mix, including 11 two bedroom units and 8 one bedroom units, the property provides an investor the opportunity to tap into the strong rental demographics of North Hills, where vacancy rates currently sit at approximately 2.8%. This historically low vacancy rate coupled with the dense existing renter pool within this infill market has helped effective rents to climb 5.5% year-over-year through the second quarter of 2018.All units include their own individual water heater, helping to limit the owner's utility expense, while several units have their own balcony.
    Exterior Features

    Parking Spaces Total 34 Parking Type Garage

    Interior Features

    Cooling Type Central A/C Heating Type Central Furnace Interior Features Other Total Floors 3 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.5 Unit Number Of Bath04 2.0 Unit Number Of Bed01 1 Unit Number Of Bed02 2 Unit Number Of Bed03 2 Unit Number Of Bed04 2

    Property Features

    Adjusted Gross Income 357612.00 Assessed Improvement Value 1520992.00 Assessed Land Value 1013994.00 Cap Rate 4.52 Country United States Of America Expense Total Annual 127101.00 Gross Operating Income 368443.00 Gross Rent Multiplier 13.83 Hoa YN N Legal Disclosures No Property Assessments Lot Size Source Public Records Net Operating Income 230512.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Public Records Unit Monthly Rent01 1425.00 Unit Monthly Rent02 1665.00 Unit Monthly Rent03 1695.00 Unit Monthly Rent04 1707.00 Unit Projected Total Monthly Rent01 11960.00 Unit Projected Total Monthly Rent02 3590.00 Unit Projected Total Monthly Rent03 1845.00 Unit Projected Total Monthly Rent04 15160.00 Unit Total Monthly Rent01 11400.00 Unit Total Monthly Rent02 3330.00 Unit Total Monthly Rent03 1695.00 Unit Total Monthly Rent04 13660.00 Unit Type01 8 Unit Type02 2 Unit Type03 1 Unit Type04 8 Units Total In Complex 19 Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap and Robert Narchi CA DRE# 01324570 of Marcus & Millichap.


    Based on information from CARETS as of 2018-12-11T08:43:41.793. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
    RE/MAX of Santa Clarita
    25101 The Old Road
    Santa Clarita CA, 91381