8941 Orion Ave, North Hills, CA 91343

$12,800,000
60
BD
57
BA
34,674
SqFt
List Price
$12,800,000
Status
ACTIVE
MLS#
22-220233
Year Built
2017
Bedrooms
60
Bathrooms
57
Living Sq. Ft
34,674
Lot Size
19,962
Days on Market
12
Property Type
Multifamily

Property Description

We are pleased to present Thirty-Three North, a 33 unit modern construction multifamily property located at 8935 Orion Ave, North Hills, CA. The property is situated in a growing and central San Fernando Valley location with quick access to the 405 freeway, allowing for easy commuting. Built in 2017, the property is completely free from all rent control laws with the only restriction being three affordable-restricted units that are being rented out to section 8 tenants for near market rents.Thirty-Three North boasts an excellent unit mix of (9) 1 bed / 1 bath, (21) 2 bed / 2 bath, and (3) 3 bed / 2 bath units, with an average unit size of 726, 1,034, and 1,374 square feet, respectively. Each of these units offer bright and open floor plans, stainless steel appliance packages, in-unit washer and dryer, and each unit has a private balcony to enjoy sprawling views of the Valley. Also, the property has elevator access to all floors, a secured intercom entry, gated parking lot, conference room, and an outdoor BBQ area.The property has individual meters for all utilities, including water, meaning the tenants pay for their own electric, gas, and water bills. The landlord is only responsible for common area utilities which is very minimal (about $600 per month) and the building's trash removal services.There is an attractive assumable loan with about 3 years remaining on the fixed term. The current loan balance is about $6,400,000 (about 50% loan to value) which comes with a 4.64% interest rate. This offering is perfect for the investor looking for a safe, inflation-resistant, fully non-rent-controlled property which requires very little management effort.

Additional Information

Other Buildings
None
Heat
Other
Cooling
Other
Number of Cars in Garage
Controlled Entrance, Covered Parking, Gated

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of , Filip Niculete - CA DRE#

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