Address
14668 Nordhoff Street, Panorama City, CA
Price
$ 9,800,000
Property Attributes
- MLS#26690295
- TypeSingle Family
- Listing Status Active
- CountyLos Angeles
- CityPanorama City
- Area Panorama City
- Zip91402
- Style
- Year Built1990
- Price$ 9,800,000
- Bedrooms80
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage34648
- Lot Size0.7583 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
***MAJOR PRICE REDUCTION*** 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.
| Price History | |
|---|---|
| 4/9/2026 | Listed $10,350,000 |
| 6/17/2026 | 5$9,800,000 |
General Features
| Living Area | 34648 |
|---|---|
| Heating | Central |
| Cooling | CentralAir |
| Zoning | LAR3 |
| Year Built | 1990 |
| Stories Count | 2 |
| Levels | Two |
| Gross Income | 1051092 |
| County | Los Angeles |
| Net Operating Income | 606500 |
| New Construction | false |
| Property Type | ResidentialIncome |
| HOA | false |
| Special Listing Conditions | Standard |
| Status | Active |
| Directions | Near Nordhoff St & Tobias Ave |
| City | Panorama City |
| Senior Community Y/N | false |
| Number Of Units Total | 41 |
| MLS Area | PC - Panorama City |
| Lot Size Units | SquareFeet |
| Lot Size Square Feet | 33032 |
| Standard Status | Active |
| Cap Rate | 6.19 |
| PostalCity | PANORAMA CITY |
Interior Features
| Total Stories | 2 |
|---|---|
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Total Bedrooms | 80 |
| Total Baths | 81 |
Exterior Features
| Parking Features | Assigned |
|---|---|
| Total Parking | 91 |
| Lot Size Area | 33032 |
| Number of Buildings | 1 |
| Building Area Total | 34648 |
| Lot Size Acres | 0.7583 |
| Lot Size Source | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 91402
Price
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of September 9, 2026 11:49 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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