REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 6,100,000
Est. payment | /mo
22,232 SqFt
$ 6,100,000
Est. payment | /mo
22,232 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 22,232 sqft
Price per Sqft $274
MLS Listing ID CL25589867
HOA Y/N No
Year Built 1965
Lot Size 0.552 Acres
Acres 0.55
Property Sub-Type Other
Property Description
We are pleased to present Northridge Manor, a rare 28-unit value-add opportunity located at 18540 Prairie Street in the heart of Northridge, just blocks from California State University, Northridge (CSUN). Built in the 1960s by the seller's grandfather and never before sold, the property has been passed down through multiplegenerations, offering investors a chance to acquire a legacy asset with deep ownership history. One of the most compelling aspects of this opportunity is the assumable Chase Bank loan with an outstanding balance of $3,750,000, fixed at a 4.83% interest rate through December 2029, and interest-only payments through December 2027. This attractive in-place financing is significantly below current market rates, enhancing cash-oncashreturns and reducing acquisition friction for qualified buyers. Situated on a 24,041-square-foot lot (0.55 acres), the two-story building features an expansive interior courtyard, a gated swimming pool, assigned parking for each unit,and on-site laundry. The unit mix includes (2) studios, (16) one-bedroom/one-bath, (5) two-bedroom/1.5-bath, and (5) two-bedroom/two-bath units ideal for a mix oftraditional renters and students. Documented improvements include a 2017 soft-story seismic retrofit, installation of 30 earthquake shut-off valve
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2763009009
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Filip Niculete • Marcus & Millichap
GET MORE INFORMATION
Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447