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$ 9,800,000
Est. payment /mo
Active
14668 Nordhoff Street Panorama City (los Angeles), CA 91402
34,648 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 34,648 sqft
Price per Sqft $282
MLS Listing ID CL26690295
HOA Y/N No
Year Built 1990
Lot Size 0.758 Acres
Acres 0.7583
Property Sub-Type Other
Property Description
***MAJOR PRICE REDUCTION*** 14668 Nordhoff Street presents a compelling opportunity to acquire a well-maintained, 41-unit apartment community in the heart of Panorama City, NOT SUBJECT TO LA CITY RENT CONTROL. Constructed in 1990, the property offers a highly attractive, low-maintenance investment profile with a strong and desirable unit mix comprised of 39 spacious two-bedroom units and two one-bedroom units. The predominance of two-bedroom layouts provides stability and broad tenant appeal, catering to families, roommates, and long-term residents seeking larger living spaces within the San Fernando Valley. Many of the residences have been upgraded, enhancing both the aesthetic appeal and income potential of the asset. Each unit is equipped with central HVAC, while select units also feature fireplaces and private balconies or patios. These sought-after amenities position the property competitively within the local market. A significant investment advantage is that, due to its 1990 construction, the property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). This exemption provides greater operational flexibility compared to many older multifamily assets in the area, allowing ownership to implement market-aligned rent adjustments and execute strategic revenue growth initiatives over time. In a regulatory environment where rent control can meaningfully impact long-term performance, this distinction materially enhances the asset's value proposition and future income growth potential. The community is thoughtfully designed around a landscaped courtyard and pool area, creating a welcoming residential atmosphere that encourages long-term tenancy. Additional amenities include on-site laundry facilities, trash chutes, and secured parking (91 spaces), offering residents both convenience and peace of mind. Built with more modern systems and construction standards than much of the surrounding housing stock, the property benefits from reduced deferred maintenance exposure and improved operational efficiency, making it particularly well-suited for investors seeking stable, predictable returns. Strategically located adjacent to Tobias Avenue Park, the property enjoys immediate access to green space and recreational amenities, while also being surrounded by abundant shopping, dining, and everyday conveniences along Nordhoff Street and nearby commercial corridors. Its central San Fernando Valley location offers convenient connectivity to major
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 2651011004
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Listed by Robert Renshaw • REMAX COMMERCIAL & INVESTMENT REALTY