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Mary Oh

mary.socalre@gmail.com +1(714) 595-1787

$ 12,600,000

Est. payment -/mo

Save

Active

18540 & 18551 Prairie ST Northridge, CA 91324

70 Beds

54 Baths

43,899 SqFt

UPDATED:

01/24/2025 01:30 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 43,899 sqft

Price per Sqft $287

MLS Listing ID 25485207

Bedrooms 70

HOA Y/N No

Year Built 1965

Lot Size 1.100 Acres

Property Description

We are pleased to exclusively present Northridge Manor and Northridge Chalet, a rare opportunity to acquire a value-add portfolio of 54 units located at 18551 and 18540 Prairie Street in Northridge, California. This unique offering includes two adjacent mid-century properties situated in the heart of Northridge, just blocks away from California State University, Northridge (CSUN), making them ideal investments for value-add strategies. Built in the 1960s and available on the open market for the first time, the properties are located on a combined 48,090-square-foot lot and consist of two two-story buildings featuring an expansive interior courtyard, a swimming pool, parking for each unit, and shared on-site laundry facilities. The desirable unit mix includes 2 studio apartments, 34 one-bedroom/one-bathroom units, 6 two-bedroom/1.5-bathroom units, and 12 two-bedroom/two-bathroom units. Recent improvements, such as soft-story retrofitting, upgraded copper plumbing, electrical subpanel upgrades, and new heating systems, ensure long-term operational stability. With most units in classic or moderately renovated condition, investors have the opportunity to capture approximately 21% upside in rents by implementing high-end finishes that are sought after by modern renters and CSUN students. Located near CSUN, the properties enjoy proximity to the Northridge Fashion Center, the Valley Performing Arts Center, Matador Bowl, and Porter Valley Country Club. This strategic location fosters steady tenant demand from students, professionals, and families. With strong intrinsic value, untapped rental upside, and an exceptional location, Northridge Manor and Northridge Chalet represent a premier opportunity in one of the San Fernando Valley's most desirable rental markets.

Location

State CA

County Los Angeles

Area Nr - Northridge

Zoning LAR3

Interior

Heating Floor Furnace

Fireplace No

Exterior

Parking Features Covered

Pool Community

Community Features Pool

Roof Type Other

Total Parking Spaces 54

Private Pool No

Building

Story 2

Entry Level Two

Foundation Raised, Slab

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2763009009

Special Listing Condition Standard

Listed by Filip Niculete • Marcus & Millichap

“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”

+1(714) 595-1787

mary.socalre@gmail.com

110 E Wilshire Ave, Suite G1, Fullerton, California, 92832, USA