15216 Nordhoff Street

    North Hills, CA 91343
    • $5,095,000
    • STATUS: Active Under Contract
    • ON SITE: 157 days
    • MLS #: 18375500
    Under Contract
    UPDATED: 56 min ago
    $5,095,000
    • 31
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,326
      SQFT
    • $332
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1985
    County:
    Area:

    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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    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Wasserman. Based on information from the California Desert Association of Realtors as of 2019-01-19T13:35:51.12. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
    www.teamwasserman.com/homes/86537341

    15216 Nordhoff Street North Hills, CA 91343

    • Price: $5,095,000
    • Status: Active Under Contract
    • Updated: 56 min ago
    • MLS #: 18375500
    31
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    15,326
    SQFT
    $332
    $/SQFT
    1985
    Built
    Neighborhood:
    North Hills
    County:
    Los Angeles
    Area:
    North Hills
    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

    Carport Or Covered Spaces 0 Pool No Total Other Spaces 0 Total Parking Spaces 34

    Interior Features

    Avg Sq Ft Studio 0 Avg Sq Ft1 Bedroom 0 Avg Sq Ft2 Bedroom 0 Avg Sq Ft3 Bedroom 0 Bathrooms 31.00 Cooling Type Central A/C Entry Level 0 Heating Type Central Furnace

    Property Features

    Act Total Rent 0.00 Adj Gross Income 357612.00 Annual Gross Rent 0.00 Annual Land Lease Amount 0.00 Green Year Certified 0 Gross Annual Income 0.00 Gross Operating Inc 368443.00 Gross Schedule Inc 0.00 Lot Size Source (Assessor) MLS Claw Mls Monthly Gross Income 0.00 Net Operating Inc 230512.00 Number Of Buildings 1 Operating Expenses 0.00 Property Subtype Residential Income Realtor Association Palm Springs Assocation Of Realtors Sale Type Standard Sale Square Footage Source Assessor Tax Rate 0.00 Total Annual Op Exp 127101.00 Total Taxes 0.00

    Listing information © 2019 California Desert Association of Realtors.
    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap.
    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Wasserman. Based on information from the California Desert Association of Realtors as of 2019-01-19T13:35:51.12. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
     
    Team Wasserman
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    La Quinta CA, 92253