18018 Schoenborn St, Northridge, CA 91325

Property Description

We are pleased to present 18018 Schoenborn St, a 6 unit multifamily property in Northridge, CA. Built in 1958, this 4,800 square foot property sits on a 7,320 square foot lot (0.17 acres), and it boasts a strong unit mix with (4) 2 bed / 1 bath units and (2) 1 bed / 1 bath units. The property offers parking at the rear alley of the lot with 6 gated carport parking spots, 1 spot per unit. This listing provides an investor a great value-add opportunity. The current mom-and-pop owner, who's owned this property for more than 30 years, has never tried to maximize rents on the property, opting for a more relaxed approach towards the tenants to avoid management headaches. This provides the buyer an opportunity to capture this nearly 40% upside potential in rents. Also, a savvy investor could consider adding an ADU to this property where the parking is in the back alley. 18018 Schoenborn is located in a safe, family friendly neighborhood, directly across the street from Northridge Middle School and within walking distance to Northridge Hospital Medical Center. It's just a short drive away from California State University, Northridge (CSUN) and the Northridge Fashion Center. The property offers a great place to live for tenants who commute to work with easy access to major freeways, including the 405 and 118, facilitating easy access throughout Los Angeles and beyond.