8380 Northgate Ave, Canoga Park, CA 91304

25 Unit Apartment Building | For Sale | Canoga Park, CA 91304

Property Type: Multifamily
Square Feet: 20,909 SF

Listing Contacts

Otto Ozen

Brian Nakamura

Keon Truth

Property Info

Property Overview

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.

Property Details

Class: B
Year Built: 1970
Stories: 2
Lot Size (sq. ft): 20,909 SF
Units: 25

Highlights

Fully Occupied with Rental Upside
Qualified Opportunity Zone
In-Place Rents Currently Below Market
Highly Desirable Unit Mix
High Walk Score with Outstanding Visibility
Robust Rental Demand

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