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$5,095,000
Est. payment /mo
70 Beds
40 Baths
24,500 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 24,500 sqft
Price per Sqft $207
MLS Listing ID 26672753
Bedrooms 70
HOA Y/N No
Year Built 1972
Lot Size 1.105 Acres
Property Description
Approximately 40% Rental Upside to Market, translating into a 9.82% market cap rate. Significant Mark-to-Market Opportunity. This 20-unit apartment community, built in 1972, features an attractive townhome-style unit mix consisting of ten 4-bedroom/2-bath units and ten 3-bedroom/1.5-bath units. The property sits on approximately 1.10 acres with 24,500 square feet of building area and 40 parking spaces. Zoned LAR3 and located within an Opportunity Zone, the property also offers substantial value-add potential, including the opportunity for up to 13 new ADUs through a combination of conversions, detached construction, and a potential attached ADU. Longer-term redevelopment potential includes approximately 60 units by right and up to 102 units utilizing Tier 3 TOC incentives. Located just off Topanga Canyon Boulevard, the property offers convenient access to Westfield Topanga & The Village, Warner Center, CSUN, Pierce College, Kaiser Permanente Woodland Hills Medical Center, and Northridge Fashion Center. The location provides strong regional connectivity via the Ventura (US-101) and Ronald Reagan (SR-118) Freeways, offering access throughout the San Fernando Valley, Downtown Los Angeles, and Ventura County. The surrounding area benefits from a dense residential base, major employment centers, retail and entertainment amenities, Metro transit access, and continued multifamily and mixed-use development within the Warner Center area.
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 40
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2779020042
Special Listing Condition Standard
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Listed by Daniel Withers Matthews Real Estate Investment Services #01325901
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