NOT LISTED FOR SALE

8303 Darby Ave Northridge, CA 91325

2 Beds
50 Baths
22,823 Sq Ft
0.54 Acres

Last Sold January 10, 2023

Last sale price $7,575,000 $332 Per Sq Ft

24 Days on Market

Highlights

  • In Ground Pool
  • Corner Lot
  • Laundry Room
  • 0.54 Acre Lot

About This Home

As of January 2023

The subject property is a 25-unit apartment complex located at 8803 Darby Avenue in the city of Northridge.
All units are comprised of 2 Bedroom/2 Bathroom totaling ±22,823 rentable square
feet resting on ±23,509 square feet of land. A few of the amenities offered by this
complex are central A/C and heat, an elevator, a sparkling pool, and an onsite laundry
facility. In addition, this 3-story building offers two parking spaces for each unit. The
parking area consists of on-grade secured parking along with more covered parking
spaces located next to the pool. Furthermore, this complex has copper plumbing and
is separately metered for gas and electricity.
The subject property is between Nordhoff Street and Parthenia Street which is a
dense rental pocket area in Northridge. This complex is just a short drive to the
Northridge Fashion Center Mall, California State University (CSUN), Northridge
Medical Center and to numerous shops and restaurants.

Last Agent to Sell the Property

Reza Ghobadi

Reza Ghobadi License #01780045 Listed on: 11/21/2022

Last Buyer's Agent

Reza Ghobadi

Reza Ghobadi License #01780045 Listed on: 11/21/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.54 Acre Lot
  • Two or More Common Walls
  • Corner Lot

Parking

  • 50 Car Garage

Home Design

  • 22,823 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 50 Bathrooms

Additional Features

  • Laundry Room
  • In Ground Pool

Listing and Financial Details

  • Tax Lot 117
  • Tax Tract Number 115202
  • Assessor Parcel Number 2769026016
  • $3,470 per year additional tax assessments

Community Details

Building Details

  • 25 Separate Electric Meters
  • 25 Separate Gas Meters
  • Electric Expense $10,385
  • Fuel Expense $11,933
  • Gardener Expense $3,000
  • Insurance Expense $13,000
  • Maintenance Expense $12,500
  • Other Expense $3,000
  • Pest Control $720
  • Pool Expense $1,980
  • Professional Management Expense $15,755
  • Trash Expense $10,255
  • Water Sewer Expense $36,033
  • New Taxes Expense $98,125
  • Operating Expense $228,391
  • Gross Income $541,275
  • Net Operating Income $296,762

Additional Features

  • 25 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Parking

50

Listing Details

  • CapRate: 3.78
  • Professional Management Expense: 15755.00
  • Property Attached: Yes
  • Water Sewer Expenses: 36033.00
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 3000.00
  • Parcel Number: 2769026016
  • Year Built: 1986
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 331.90

Exterior Features

  • Pool Expense: 1980.00
  • Pool Features: Private, In Ground
  • Pool Private: Yes

Garage/Parking

  • Garage Spaces: 50.00
  • Total Parking Spaces: 50.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 720.00
  • Sewer: Public Sewer
  • Trash Expense: 10255.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 23509.00
  • Lot Size Acres: 0.5397

Multi Family

  • Electric Expense: 10385.00
  • Fuel Expense: 11933.00
  • Gross Income: 541275.00
  • Gross Multiplier: 14.61
  • Gross Operating Income: 541275.00
  • Gross Scheduled Income: 537445.00
  • Insurance Expense: 13000.00
  • Laundry Income: 3830.00
  • Lot Size Area: 23509.0000 Square Feet
  • Maintenance Expense: 12500.00
  • Net Operating Income: 296762.00
  • Number Of Separate Electric Meters: 25
  • Number Of Separate Gas Meters: 25
  • Number Of Units Total: 25
  • Operating Expense: 228391.00
  • Other Expense: 3000.00
  • Other Expense Description: Elevator
  • Rent Control: No
  • Total Expenses: 228391.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 98125.00
  • Tax Census Tract: 1154.03
  • Tax Lot: 117
  • Tax Tract Number: 115202
  • TaxOtherAnnualAssessmentAmount: 3470.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/10/2023 01/10/23 Sold $7,575,000 -3.5% $332 / Sq Ft
12/15/2022 12/15/22 Pending -- -- --
11/21/2022 11/21/22 For Sale $7,850,000 -- $344 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Reza Ghobadi

    Seller's Agent in 2023

    Reza Ghobadi

    Reza Ghobadi

    (818) 793-2923

    1 in this area

    20 Total Sales

    Reza Ghobadi
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR22245059

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Northridge 91325

8303 Darby Ave, Northridge, CA

Not Listed for Sale

MultiFamily

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