$7,825,000
$925K PRICE DROP

8615 Balboa Blvd Los Angeles, CA 91325

Northridge Neighborhood

Estimated payment $51,041/month

Total Views 2,796
14 Beds
54 Baths
32,452 Sq Ft
$241 Price per Sq Ft

Highlights

  • Gated Parking
  • Valley Academy of Arts & Sciences Rated A-
  • 0.89 Acre Lot

About This Home

54 units plus 1 non-conforming unit in Northridge. Great value add opportunity. Long term owner - 1st time on the market in more than 30 years. Huge upside in the rents - RENTS ARE 45%BELOW MARKET. The property consists of 43 singles, 10 - 1bedroom - 1 bath and 2 - 2 bedroom + 1 bath units. There is 32,452 square feet of building and it sits on a 38,701 square foot lot. New water heaters. Opportunity to add ADUs. New electrical panels. Wall Air Conditioners in all the units. 54 parking spots. New carpet in the entry and hallways. Large patio area on the 2nd floor overlooking the pool. On site laundry. The property is centrally located in the San Fernando Valley, minutes from California State University, Northridge, Matador Bowl and the Northridge Fashion Square Mall. Close to shops, restaurants and easy freeway access. PROPERTY CAN BE PURCHASED WITH 40 UNITS LOCATED AT 8567 BALBOA BLVD. This is an excellent opportunity to acquire 94 units in a prime San Fernando Valley location.

Listing Agent

Michael Salerno

Michael Anthony Salerno License #01212427 Listed on: 06/16/2025

Michael Anthony Salerno

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.89 Acre Lot

Interior Spaces

  • 32,452 Sq Ft Home
  • 2-Story Property
  • Oven or Range

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 54 Bathrooms

Parking

  • 54 Parking Spaces
  • Carport
  • Gated Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window

Community Details

  • 54 Units
  • Vacancy Allowance $18,146

Listing and Financial Details

  • Assessor Parcel Number 2690-021-038

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: One
  • Street Number Display: Yes
  • Living Area: 32452
  • Lot Acreage: 0.8888
  • Stories: 2
  • Year Built: 1964
  • Number Of Photos: 32
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 14
  • Total Bathrooms: 54.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 241.13

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Carport, Covered Parking, Gated
  • Total Parking: 54

Utilities

  • Cooling: Wall Unit(s)
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 60.00
  • Assessed Improvement Value: 7553304
  • Assessed Land Percent: 40
  • Assessed Land Value: 5035536
  • Total Assessed Value: 12588840
  • Assessor Parcel Number: 2690-021-038
  • Lot Size Area: 38714

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.67
  • Number Of Units: 54
  • Total Annual Expense: 287781
  • Type Of Units: apartment
  • Vacancy Allow: 18146
  • Vacancy Rate: 2.5

Map

Range of Values:

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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 Change Sq Ft Price
07/23/2025 07/23/25 Price Changed $7,825,000 -10.6% $241 / Sq Ft
06/16/2025 06/16/25 For Sale $8,750,000 -- $270 / Sq Ft
Source: The MLS

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See All Homes in Los Angeles

Source: The MLS

MLS Number: 25552861

The MLS

California Los Angeles County Los Angeles 91325 Northridge

8615 Balboa Blvd, Los Angeles, CA

This home is located at 8615 Balboa Blvd, Los Angeles, CA 91325 and is currently priced at $7,825,000, approximately $241 per square foot. This property was built in 1964. 8615 Balboa Blvd is a home located in Los Angeles County with nearby schools including Parthenia Street Elementary School, Oliver Wendell Holmes Middle School, and James Monroe High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Michael Salerno
Listing Agent
Michael Salerno
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Michael Anthony Salerno
(747) 298-5959