16909 Parthenia StLos Angeles, CA 91343

Property Details for 16909 Parthenia St

Year built

1984

Construction

WOOD

Lot size

0.80 AC

Property size (Sq ft)

21,729 SF

Zone code

LACR

Property type

Office properties

Property subtype

Office buildings

APN

2688-041-013

APU

2688041013

Description

This exceptional three-story, 24,199 square foot office building presents a compelling value-add investment opportunity in Los Angeles' North Hills/Northridge submarket. Located on Parthenia Street, the property boasts high visibility with approximately 30,781 cars passing daily, and convenient access to major freeways (405, 118, and 101). Currently at 44% occupancy, this multi-tenant building offers significant upside potential for an owner-user seeking immediate space (~9,000 SF) with room for future expansion as leases expire. Recent renovations totaling approximately $100,000 have upgraded common areas. The building sits within a robust office market with low vacancy rates (historically under 13.4% and currently at 8.6% according to Costar), benefiting from its location near The Mix, a 40-acre creative campus with numerous amenities. The surrounding area features a strong demographic profile, with 86,706 households within a 3-mile radius and an average household income of $87,477. This free-standing Class B building offers a welcoming setting at a competitive price point, approximately 15-20% below comparable Class A and medical office spaces. The 0.8-acre lot provides ample space, and the asking price is $7,138,000 ($294.97/SF).

• CAP approach

  CAP return

  Valuation

  6%

  $6,290,068

  6.5%

  $5,806,216

  7%

  $5,391,486

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,131,987

  Geo Method

  $4,131,987

• Alternative Use

  Use

  Valuation

  Residential

  $7,199,708

  Hospitality

  $6,594,894

  Educational

  $5,486,874

  Medical

  $5,675,576

  Retail

  $8,535,138

Location Insight

City

Northridge

County

Los Angeles

State

California

Latitude

34.229

Longitude

-118.501

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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