9301 Darby Ave - Apartments FOR SALE


Northridge, CA 91325
$7,775,000 USD
818-398-0797
9301 Darby Ave, Northridge, CA for Sale
$7,775,000 USD
Apartments - FOR SALE
1/23
null | 5.46% Cap Rate

9301 Darby Ave
Northridge, CA 91325


HIGHLIGHTS

  • Rents easily to CSUN students

OVERVIEW

Presenting Darby Gardens: An Exceptional Value-Add Opportunity in Northridge. We are pleased to present Darby Gardens, a compelling opportunity to acquire a 34-unit value-add multifamily complex located at 9301 Darby Avenue in Northridge, California. This property boasts an unrivaled location directly across from California State University, Northridge (CSUN), positioning it as an ideal asset for portfolio expansion. Constructed in 1971, the two-story building sits on a substantial 28,517 square foot lot and features an expansive interior courtyard, dedicated parking for each unit, and convenient on-site laundry facilities. The desirable unit mix includes 7 two-bedroom/two-bathroom units and 27 one-bedroom/one-bathroom units. Untapped Potential and Strategic Location. Recent property enhancements include electrical subpanel upgrades and the installation of newer appliances in some units. However, with the majority of units in classic or moderately renovated condition, there is significant potential for investors to implement strategic upgrades and realize substantial rental upside. The current ownership's conservative rental strategy, which included maintaining below-market rents and offering month-to-month leases after initial year-long terms, presents a clear path to increased revenue through market-rate adjustments and unit renovations. Beyond its immediate proximity to CSUN, Darby Gardens offers excellent access to a wealth of local amenities. It is a mere five-minute drive from the Northridge Fashion Center, and is also conveniently located near The Valley Performing Arts Center, Matador Bowl, and a diverse array of cafes and dining establishments. This A+ location is so highly desirable that the property has consistently achieved full occupancy solely through its on-site signage. With its strong intrinsic value, significant untapped rental upside, and exceptional location steps from CSUN, Darby Gardens represents an outstanding investment opportunity in one of the San Fernando Valley's most robust rental markets.

FOR SALE DETAILS

PRICE

$7,775,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

34

PRICE/UNIT

$228,676

CAP RATE

5.46%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Darby Gardens Apartment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

LAR3

APN/PARCEL ID

2764-011-025

ASK ABOUT THIS PROPERTY

Kevin DriscollColdwell Banker RealtyMore Info
818-398-0797

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Kevin DriscollColdwell Banker RealtyMore Info
818-398-0797

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.