Listed by Matthews
$5,400,000
9015 Owensmouth Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,500
Units 20
Cap Rate 5.48%
NOI $295,922
Price per SqFt $220
Year Built 1972
Buildings 4
Stories 2
Acreage 1.100
20-Unit Townhome Multifamily with Major ADU Upside in Prime Canoga Park
Investment highlights
20-unit apartment built in 1972
- Excellent unit mix (10) 4+2 and (10) 3+1.5 all Townhome style units
- GRM 10.43
- Rare lot over an acre of usable land creating a tremendous opportunity for 13+ ADUs immediately
- Opportunity Zone with LAR3 zoning
- Future Redevelopment: 60 units by right, 102 units using Tier 3 TOC incentives
- ±24,500 building SF on ±1.10 AC lot
- 40 Parking Spots
- Over 46% of rental upside
- Right off Topanga
- 5 ADUs can be created by converting existing non habitable spaces within the current buildings, storage, parking, etc
- Up to 8 detached ADUs can be built on the property’s open space
- Potentially 1 additional attached ADU to an existing building
- Total potential: up to 13 new ADUs
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$295,922.00
$24,660.17/mo
Valuation Metrics
0
DSCR
5.48%
Cap Rate
5.48%
ROI
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