19236 Parthenia StLos Angeles, CA 91324

This exceptional investment opportunity presents a 36-unit apartment building located at 19236-19248 Parthenia Street, Los Angeles, CA 91324. The property, encompassing approximately 31,454 square feet, consists of two, two-story buildings constructed in 1962, situated on a sizable lot. The property boasts a desirable unit mix of one, two, and three-bedroom apartments, averaging a generous 874 square feet per unit. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $294,081, with a pro-forma NOI projected at $663,674, representing a significant value-add potential. The asking price is $8,500,000, translating to $236,111 per unit and $270 per square foot. The property's prime location in Northridge offers convenient access to major freeways (118, 101, and 405), Cal State University Northridge, the Metrolink Northridge Station, Northridge Fashion Center, Northridge Hospital, and Costco. The property features on-site laundry facilities, carport parking, and a swimming pool. Many units have been upgraded with modern finishes, while others present a value-add opportunity through renovations. The large lot size presents potential for additional development. This property offers a compelling combination of strong current income and substantial upside potential, making it an ideal investment for discerning buyers. The property's APN is 2784-022-029 & 2784-022-030. The current cap rate is 3.46%, with a pro-forma cap rate of 7.81%.