This multi-family property in Northridge, CA, offers a potential monthly rental income ranging from $5,950 to $10,999. Considering the property has four bedrooms and is located in a neighborhood with a median listing price around $1.2M, the estimated payback period can vary significantly based on rental pricing and occupancy rates. The property is in need of major renovations, which may impact its immediate attractiveness to potential tenants. However, Northridge is a well-regarded area with ongoing development, suggesting positive long-term rental potential.
To maximize rental income, significant renovations are necessary, especially to fix earthquake damages and upgrade outdated features. If the current owner is considering selling, addressing these issues could enhance the property's market value and appeal to both buyers and renters. Additionally, adding modern amenities could attract higher-paying tenants, making it a more competitive option in the Northridge rental market.