Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
7543 Canby Avenue . Reseda , CA 91335
For sale 8 units apartment building Over 60% Upside in Rents! For more information contact the listing agent Arash Memary 818-212-2817 Arash.Memary@marcusmillichap.com
Posted: 05/16/2022 5:43 am
| On HOMEiZ: 720 days |
Updated: 1 year ago
| Views: 380
Location Map
Property Type
Sold
Property Price
$1650000
$1650000
04/29/2022
8,425.00
Sq. Ft.
$300
5501
2%
8,425%
$0
$139012500
17.17
$0
1.25%
$20625
Property Location & Description
For sale 8 units apartment building Over 60% Upside in Rents! For more information contact the listing agent Arash Memary 818-212-2817 Arash.Memary@marcusmillichap.com
Rent Control
8-unit apartment building located at 7543 Canby Avenue in Reseda, California. This 5,501 square foot building sits on an 8,425 square foot lot (0.19 acres), and it boasts an excellent unit mix of six 1 Bed / 1 Bath units and two 2 Bed / 1 Bath units. The offering presents a true value add opportunity for an investor with over 60% upside in rents, and with no tuck-under parking, the property does not need any seismic retrofitting. This investment offering provides a savvy investor the opportunity to capitalize on the existing low rents and own an investment property in a strong and centrally located rental pocket of Reseda. The potential yield this property has to offer is one of a kind. Additionally, the buyer would be wise to look into the feasibility of adding ADUs to this property since each added unit would be worth significantly more than it would cost to build in this location.
Reseda is a neighborhood in the San Fernando Valley, flanked on the north by Northridge, on the east by Lake Balboa, on the south by Tarzana and Encino, and on the west by Winnetka. The subject property is situated on the corner of Saticoy Street and Canby Avenue on the southeast corner of Reseda Boulevard.
8
$206250
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
1+1
6
$1278
2.
2+1
2
$1520
3.
4.
5.
2119-017-037
R3
100%
Wood & Stucco
2
1960
Good
Excellent Unit Mix of 1 & 2 Beds
Over 60% Upside in Rents
Brand New Roof
No Seismic Retrofit Required
True Value Add Opportunity
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
1.82/1,000 SF
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
Listing Presented by
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