Linterna Townhomes

Northridge, CA 913258810 Etiwanda Ave.

Property Type: Multifamily
Under Contract

Details

  • Price: 2,475,000
  • Cap Rate: 3.65%
  • GRM: 16.39
  • Cost per SF: $307.00
  • Cost per unit: $309,375
  • Year Built: 1988
  • Square Footage: 8,062
  • Lot Size: 7,783 SF
  • Units: 8
  • No. Stories: 2
  • Parking: 16
  • Transaction Type: Under Contract
  • Property Type: Multifamily
  • Zoning: LAR3
  • Building Class: N/A
  • APN/Parcel ID: 2769-022-031

Property Description

Linterna Townhomes is a beautifully maintained luxurious 2-story, 8-unit multifamily investment property built in 1988 located in Northridge, CA. Construction is wood frame with a combination pitched and flat roof. The property features a painted stucco exterior with brick accent. The asset is 8,062± building square feet on a 7,783± square foot lot zoned LAR3.

The apartment units are spacious and consist of (7) one-bedroom/one and half bath townhome units and (1) two-bedroom/two and half-bath townhome unit. Common area amenities include automatic gated subterranean parking, controlled intercom system, and large laundry/folding room. Unit amenities include central A.C. & heat, fireplaces, individual hot water heaters, dishwashers, plenty of closet space and balconies for select units.

The building is accessible in the front of the property off Etiwanda Ave. and offers (16) subterranean parking spaces.

Aesthetically, the property grounds and building are well maintained and attractive. The landscaping is well kept and manicured. The structure has impressive frontage and attractive curb appeal.

8810 Etiwanda Avenue is located in Northridge, CA north of Parthenia Street and west of Lindley Avenue. The property is centrally located near the 101, 405 & 118-freeyways and boasts a “walk score” of 75! Nearby destinations include CSUN, shopping centers, parks & recreation center. The closest grocery story is Vallarta Supermarket and nearby coffee shops include Joyce’s Coffee Shop and Restaurant, Cafe Aficionado and Starbucks.

Low vacancy rates in the San Fernando Valley coupled with continued low interest rates have helped position multifamily investment properties as a highly attractive asset class. With many units at below market rents amidst a thriving rental market, 8810 Etiwanda Ave offers investors roughly 25% rental upside!

 

Property Highlights

  • 100% luxury townhome style units with roughly 25% rental upside potential!
  • Individual hot water heaters & central A.C.
  • Gated subterranean parking offering 16 parking spaces!
  • Beautiful curb appeal & tree lined quiet residential street.
  • Thriving rental market.
  • Great residential community conveniently located near CSUN & Northridge Fashion Center!

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23975 Park Sorrento Suite 110
Calabasas, CA 91302