1 - 18315 Malden Street
1 - 18315 Malden Street

2 - 18315 Malden Street
2 - 18315 Malden Street

8 - 18315 Malden Street
8 - 18315 Malden Street

1 - 18315 Malden Street
1 - 18315 Malden Street

1/8

18315 Malden Street

Northridge, CA 91325

SOLD
Property Summary

Price:

Cap Rate:

GRM:

Gross Sq Ft:

Lot Size:

Approx Year Built:

Units:

Price Per Unit:

Price Per Sq Ft:

$1,125,000

5.18%

12.08

5,703

7,919

1959

8 (7 + 1 Non Conforming)

$140,625

$197

Deal Highlights
Property Description

The subject Property is located at 18315 Malden Street in between Reseda Boulevard and Lindley Avenue in the city of Northridge. This charming well maintained and operated rent controlled seven unit plus one non-conforming single apartment building was built in 1959.

 

The unit mix consists of one non-conforming single, two singles, two one-bedroom/one-bathroom units, one two bedroom/ one-bathroom units, and two, two-bedroom/two-bathroom units. Amenities include seven parking spots and on site laundry services.

The apartment has great potential for financial growth in that its rents are approximately 20 percent below market. The subject property is located 1.3 miles from CSUN University and is within walking distance to local eateries and shopping centers as well as within minutes of the 405, 101, and 118 Freeways.

  • Sold at 98% of List Price

  • Multiple Offers

  • All Cash / 30 Day Close

  • First Time Multi-Family Buyer

Asset Highlights
  • Excellent Unit Mix

  • Over 20 Percent Upside in Rents

  • Located Near CSUN University

  • Dense Rental Pocket of Northridge

  • Five Tuck Under and Two Open Parking Spaces

  • Horizontal Copper Plumbing; Vertical Galvanized

  • Located Near Many Employers and Eateries

  • Roof Less than Ten Years Old