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 cafs 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.
Details
MLS #
25559363
Listing Type
For Sale
Sub-Type
Resale
Status
Active
Year
1971
Days On Site
428
Listing Provided By
Coldwell Banker Realty | Kevin Driscoll
Features
Bed(s)
41
Bath(s)
41
SQ Feet
26,827
Story(s)
2
Units
34
Building(s)
1
Zoning
LAR3
Acreage
0.65
Interior
Cooling
Wall Window Units
Heating
Natural Gas
Heating Yes / No
Yes
Cooling Yes / No
Yes
Appliances
Gas Cooktop, Oven, Refrigerator
Exterior
Security Features
Gated Community
Parking
Parking Features
Assigned, Controlled Entrance, Community Structure
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