Northgate Apartments

The Mogharebi Group is pleased to present the opportunity to acquire Northgate Apartments, a multifamily property located at 8380 Northgate Avenue in Canoga Park, California. This offering consists of a fully occupied, 25-unit apartment complex. The property features a diverse mix of studios, one-, and two-bedroom floor plans. Currently, property rents at Northgate Apartments are stable at 30% below market, this presents a potential value-add opportunity through strategic renovations and repositioning. Northgate Apartments is situated in an opportunity zone, which may offer additional tax incentives for investors. The property includes a range of amenities designed to enhance tenant appeal, these include private balconies, controlled security access, and a dedicated laundry facility. These amenities along with its highly commutable Los Angeles location allow a prospective investor to more easily capitalize on the high in-place loss-to-lease through improved operations. Northgate Apartments offers a unique blend of income and upside within a strong Los Angeles submarket.