17931 Devonshire St
Northridge, CA 91325
Cambridge Courtyards - Value Add Opportunity · Multifamily Property For Sale · 28 Units

THG Multifamily, as the exclusive listing agent, is pleased to present the opportunity to acquire Cambridge Courtyards, a 28-unit multifamily community located in Northridge, CA in the San Fernando Valley. Cambridge Courtyards is comprised of one building totaling 22,466 gross square feet. The asset features a grilling/ BBQ area, a courtyard, tranquil setting with serene rock garden, laundry room, and gated entry with call box. The interior units feature white cabinetry, wood linoleum flooring, ceiling fans, microwave, gas stove/oven and wall air conditioning. The property is comprised of a favorable unit mix consisting of predominantly spacious two-bedroom units (seven (7) 1+1’s, two (2) 2+1’s, seventeen (17) 2+1.5’s, and two (2) 2+1.5 den’s). This offering presents the opportunity to acquire an asset in a dense infill submarket of Los Angeles County with significant value-add potential (21% projected upside) via a strategic renovation program. Currently, there are 17 non-renovated units that can be upgraded with with plank flooring and quartz countertops while an investor may also expand the scope on all 28 units to include additional upgrades such as stainless steel appliances, modern cabinet faces and tile backsplashes. Located in a central location within the dynamic neighborhood of Northridge, Cambridge Courtyards benefits from excellent submarket fundamentals. Northridge has low vacancy (3.4%), and an average household income of 95,798 that’s projected to grow 14.0% over the next 5 years. Cambridge Courtyards also benefits from its close proximity (0.6 miles) to California State University Northridge with an enrollment of approximately 38,300 students and 4,000 faculty, ensuring built-in rental demand. Additionally, Cambridge Courtyards is located one block east of Reseda Blvd, a major north-south thoroughfare in the San Fernando Valley providing endless walkable restaurants, shopping and entertainment options in the area.