$3,225,000
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8740 Topanga Canyon BLVD Canoga Park, CA 91304
14,242 SqFt
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 14,242 sqft
Price per Sqft $207
MLS Listing ID SR23146343
Year Built 1962
Lot Size 0.349 Acres
Property Description
Topanga Villa is a well located 15 unit garden-style building with a central courtyard. The building has a great unit mix featuring a majority of two bedroom/two bath units. Units are very large and average over 970 SF. The building is consistently 100% occupied.
This building has tremendous rental upside. Existing rents are 55% below market. Great opportunit for an investor looking for a well located, value-add
property that is in a high rental area in the west valley ( bordering West Hills and Chatsworth).
First time on the market in 29 years. The list price is below replacement cost at only $226.44 per SF and $215,000 per unit. Lowest priced apartment complex in the area. Rents have not been raised in four years. Opportunity to raise rents projecteded at 7.8% February 2024 which will be a 5% cap rate in a few months.!!
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Natural Gas
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile, Wood
Laundry Common Area
Exterior
Garage Attached Carport, On Site
Fence Wrought Iron
Pool None
Community Features Suburban, Gated
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Available
Roof Type Composition,Flat
Building
Lot Description Gentle Sloping, Sprinklers Timer
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan
Special Listing Condition Standard
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Bought with NONE NONE • None MRML