Homes for sale - 18540 Prairie St, Northridge, CA 91324

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John Herkenrath

johnherkenrath@epiquerealty.com +1(310) 221-2910

$12,600,000

Est. payment - /mo

70 Beds

54 Baths

43,899 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 43,899 sqft

Price per Sqft $287

MLS Listing ID 25-485207

Bedrooms 70

Year Built 1965

Lot Size 1.100 Acres

Acres 1.1

Property Sub-Type Multi-Family

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 Northridge

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Floor Furnace

Cooling Wall Unit(s)

Equipment Other

Exterior

Parking Features Covered Parking

Garage Spaces 54.0

Pool Community

Roof Type Other

Building

Story 2

Foundation Slab, Raised

Level or Stories Two

Structure Type Stucco

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

18540 Prairie St Northridge, CA 91324