Northgate Apartments | 8380 Northgate Ave
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Northgate Apartments 8380 Northgate Ave
25 Unit Block of Flats For Sale Canoga Park, CA 91304
Investment Highlights
- Fully Occupied with Rental Upside
- In-Place Rents Currently Below Market
- High Walk Score with Outstanding Visibility
- Qualified Opportunity Zone
- Highly Desirable Unit Mix
- Robust Rental Demand
Executive Summary
The Mogharebi Group is pleased to present the opportunity to acquire Northgate Apartments, a multifamily property located at 8380 Northgate Avenue in Canoga Park, California. This offering consists of a fully occupied, 25-unit apartment complex. The property features a diverse mix of studios, one-, and two-bedroom floor plans. Currently, property rents at Northgate Apartments are stable at 30% below market, this presents a potential value-add opportunity through strategic renovations and repositioning. Northgate Apartments is situated in an opportunity zone, which may offer additional tax incentives for investors. The property includes a range of amenities designed to enhance tenant appeal, these include private balconies, controlled security access, and a dedicated laundry facility. These amenities along with its highly commutable Los Angeles location allow a prospective investor to more easily capitalize on the high in-place loss-to-lease through improved operations.
Northgate Apartments offers a unique blend of income and upside within a strong Los Angeles submarket.
Northgate Apartments offers a unique blend of income and upside within a strong Los Angeles submarket.
Property Facts
| Sale Type | Investment | Lot Size | 0.48 AC |
| No. Units | 25 | Building Size | 20,909 SF |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Low Rise | Parking Ratio | 1.34/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 20,909 SF |
| Number of Floors | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.34/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Ceiling Fans
- Kitchen
- Granite Countertops
- Wooden Floors
Site Amenities
- Controlled Access
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 12 | - | 650 |
| 2+2 | 11 | - | 800 |
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Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 2779-043-010 | Improvements Assessment | £1,749,427 |
| Land Assessment | £2,154,511 | Total Assessment | £3,903,938 |
PROPERTY TAXES
Parcel Number
2779-043-010
Land Assessment
£2,154,511
Improvements Assessment
£1,749,427
Total Assessment
£3,903,938
zoning
| Zoning Code | LAR3 (Multiple Dwelling Zone) |
| LAR3 (Multiple Dwelling Zone) |
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Northgate Apartments | 8380 Northgate Ave
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