15216 Nordhoff St is a $5,095,000, 15,326 square foot, 5 bedroom, 7.0 bath home located in North Hills, CA.
We are pleased to announce the sale of 15216 Nordhoff Street, a 19-unit multifamily property located on a major thoroughfare in the North-Central San Fernando Valley. Due to its 1985 construction, the property is not subject to Los Angeles rent control, providing an investor the opportunity to more immediately capitalize on surging rents in the Valley submarket.With a desirable unit mix, including 11 two bedroom units and 8 one bedroom units, the property provides an investor the opportunity to tap into the strong rental demographics of North Hills, where vacancy rates currently sit at approximately 2.8%. This historically low vacancy rate coupled with the dense existing renter pool within this infill market has helped effective rents to climb 5.5% year-over-year through the second quarter of 2018.All units include their own individual water heater, helping to limit the owner's utility expense, while several units have their own balcony.
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