Located Directly off California State University, Northridge Campus

Los Angeles, CA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently completed the $9.1M sale of a 39-unit multifamily building located at 18424 Halsted Street, Northridge, CA. The property is located less than a mile from California State University, Northridge (CSUN) campus. Senior Vice President and Market Leader Daniel Withers and Senior Associate John Boyett represented the parties in the transaction.

 

The seller, a prominent multifamily investor based in California, was looking to leverage the property’s pricing and the coveted multifamily market to release the asset and invest in other properties. The building is in a prominent action-packed neighborhood within walking distance of a RiteAid, 7-Eleven, Starbucks, and many other QSR facilities. The building comprises over 26,000 square feet, with the average unit measuring 894 square feet.

 

“This property’s location directly off CSUN campus and under five minutes from the Northridge Commuter Rail made this a highly desired asset,” said Withers. “We were able to undergo a quick-close, which can be accredited to our dual representation in this transaction.”

 

The submarket of Northridge consists of over 70,000 residents, as well as 1.5M residents within a 10-mile radius of the property. The average annual household income is $99,169 making Northridge a prominent neighborhood in the San Fernando Valley.

 

“Our in-depth market knowledge allowed us to price the deal correctly and present it properly as it was fully marketed. We gathered a bundle of offers through the process and ultimately closed the deal with a buyer who is a proven player, allowing for a very smooth process.” said Boyett.

 

For more information or to contact Daniel Withers and John Boyett, please visit www.matthews.com.

 

 

 

 

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the Unites States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.