41 Non-RSO Units at a 9.85 GRM 14668 Nordhoff St 41 Unit Apartment Building $10,350,000 ($252,439/Unit) 5.69% Cap Rate Panorama City, CA 91402

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 employment centers and key transportation routes, supporting sustained tenant demand and occupancy stability.
With strong in-place income, a favorable regulatory position, continued renovation upside, and long-term appreciation potential, 14668 Nordhoff Street represents a rare opportunity to acquire a well-located, institutionally sized multifamily asset offering durable cash flow and meaningful rent growth potential in a high-demand Los Angeles submarket.