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$7,999,000
Est. payment /mo
41 Beds
41 Baths
26,827 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 26,827 sqft
Price per Sqft $298
MLS Listing ID 25559363
Bedrooms 41
HOA Y/N No
Year Built 1971
Lot Size 0.655 Acres
Property Description
Presenting Darby Gardens: An Exceptional Value-Add Opportunity in Northridge. We are pleased to present Darby Gardens, a compelling opportunity to acquire a 34-unit value-add multifamily complex located at 9301 Darby Avenue in Northridge, California. This property boasts an unrivaled location directly across from California State University, Northridge (CSUN), positioning it as an ideal asset for portfolio expansion. Constructed in 1971, the two-story building sits on a substantial 28,517 square foot lot and features an expansive interior courtyard, dedicated parking for each unit, and convenient on-site laundry facilities. The desirable unit mix includes 7 two-bedroom/two-bathroom units and 27 one-bedroom/one-bathroom units. Untapped Potential and Strategic Location. Recent property enhancements include electrical subpanel upgrades and the installation of newer appliances in some units. However, with the majority of units in classic or moderately renovated condition, there is significant potential for investors to implement strategic upgrades and realize substantial rental upside. The current ownership's conservative rental strategy, which included maintaining below-market rents and offering month-to-month leases after initial year-long terms, presents a clear path to increased revenue through market-rate adjustments and unit renovations. Beyond its immediate proximity to CSUN, Darby Gardens offers excellent access to a wealth of local amenities. It is a mere five-minute drive from the Northridge Fashion Center, and is also conveniently located near The Valley Performing Arts Center, Matador Bowl, and a diverse array of cafs and dining establishments. This A+ location is so highly desirable that the property has consistently achieved full occupancy solely through its on-site signage. With its strong intrinsic value, significant untapped rental upside, and exceptional location steps from CSUN, Darby Gardens represents an outstanding investment opportunity in one of the San Fernando Valley's most robust rental markets.
Location
State CA
County Los Angeles
Area Nr - Northridge
Zoning LAR3
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Cooktop, Oven, Refrigerator
Laundry Common Area, Laundry Room
Exterior
Parking Features Assigned, Controlled Entrance, Community Structure
Community Features Gated
Total Parking Spaces 34
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2764011025
Security Features Gated Community
Special Listing Condition Standard
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Listed by Kevin Driscoll Coldwell Banker Realty