6823 Variel Ave, Canoga Park, CA 91303
17 Unit Apartment Building | $2,950,000 ($173,529/Unit) | 6.26% Cap Rate | Canoga Park, CA 91303
For Sale
Active
Asking Price $2,950,000
- Property Type
-
Multifamily
- Square Feet
- 11,860 SF
Listing Contacts
Jeff Louks
Elliot Sabag
- Property Info
Property Overview
Price Reduced 8.9.24!
We are pleased to present 6823 Variel Avenue, a 17 unit apartment building located in Canoga Park, within the River District of the Warner Center 2035 Plan. The property is close to Woodland Hills and many Warner Center attractions. The Warner Center area is currently exploding with numerous new large developments including The Los Angeles Rams new practice facility, which is a part of a broader real estate development spearheaded by Los Angeles Rams owner Stan Kroenke.
Additionally, there are dozens of new construction projects either already completed, under construction or being proposed to the City. These projects consist of over 4,000 apartment units, as well as hotels, retail, parking structures and office buildings. (please contact listing agents for more details). These new developments are revitalizing the area and creating new opportunities for the community, including construction jobs and permanent employment in the area.
The subject property consists of one two bedroom/two bath townhouse, four one bedroom/one bath apartments and 12 Studios. This opportunity is offered at $2,950,000 which equates to $173,529 per Unit, approximately $248.74 a sq. ft. an approximate GIM of 9.51 and an approximate CAP Rate of 6.26%. Additionally, the lot size is approximately 13,726 and with all of the new construction happening in thearea, may be a great future land bank.
We are pleased to present 6823 Variel Avenue, a 17 unit apartment building located in Canoga Park, within the River District of the Warner Center 2035 Plan. The property is close to Woodland Hills and many Warner Center attractions. The Warner Center area is currently exploding with numerous new large developments including The Los Angeles Rams new practice facility, which is a part of a broader real estate development spearheaded by Los Angeles Rams owner Stan Kroenke.
Additionally, there are dozens of new construction projects either already completed, under construction or being proposed to the City. These projects consist of over 4,000 apartment units, as well as hotels, retail, parking structures and office buildings. (please contact listing agents for more details). These new developments are revitalizing the area and creating new opportunities for the community, including construction jobs and permanent employment in the area.
The subject property consists of one two bedroom/two bath townhouse, four one bedroom/one bath apartments and 12 Studios. This opportunity is offered at $2,950,000 which equates to $173,529 per Unit, approximately $248.74 a sq. ft. an approximate GIM of 9.51 and an approximate CAP Rate of 6.26%. Additionally, the lot size is approximately 13,726 and with all of the new construction happening in thearea, may be a great future land bank.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 2
- Lot Size (sq. ft)
- 13,504 SF
- Units
- 17
Highlights
- Excellent Location within the River District of the Warner Center 2035 Plan
- Close to many Warner Center attractions and many new developments, including the LA Rams new Practice Facility and other major Developments
- 78 Walk Score - Very Walkable
- 13 Covered Parking Spaces; 4 Surface Spaces
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