8000 Owensmouth Avenue | 10-Unit Multi-Family
Value-Add 10-Unit Multifamily in the Heart of Canoga Park
Marketing description
8000 Owensmouth Ave. Canoga Park, CA 91304
10-Unit Value-Add Multifamily | $2,249,000
First Capital Investment Realty presents 8000 Owensmouth Avenue, a 100%-leased, 10-unit multifamily asset in the heart of Canoga Park. Built in 1959 and held by the same owner since 2011, the property offers 7,492 SF across eight 1BR/1BA and two 2BR/1BA units on a 9,855 SF LAR3 corner lot.
Priced at $224,900 per unit (roughly 39% below the LA metro average), the asset pairs stable in-place income with a clear value-add path. A turnover-driven renovation program is projected to grow NOI from $120,081 to $183,850, lifting the cap rate from 5.34% to 8.17%.
Located about one mile from the $10 billion Rams Village development and within the 1,100-acre Warner Center 2035 Specific Plan area, the property carries a Walk Score of 86 with easy access to Westfield Topanga, Warner Center employers, transit, and the 101 freeway.
A textbook, low-risk value-add opportunity in one of the San Fernando Valley's fastest-transforming submarkets.
Investment highlights
- 10-unit multifamily building in Canoga Park
- 6 of 10 units already renovated with quartz counters, stainless appliances, LVP flooring, and updated fixtures
- Renovated units pulling $1,575 to $2,000 in rent
- Four classic units remain at $1,085 to $1,360 — primary value-add opportunity
- $224,900 per unit — 39% below LA MSA average of $368,000 per unit
- Current NOI of $120,081 grows to $183,850 stabilized
- Cap rate lifts from 5.34% to 8.17% — 284 bps upside
- Walk Score of 86 — Very Walkable location
- LAR3 zoning leaves room for ADU work
- Located next to Warner Center 2035 Specific Plan area (1,100 acres)
- About 1 mile from $10B Rams Village development
- Flood Zone X (minimal hazard)
- Current owner held since October 2011 — 15 years of stable ownership
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