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$ 5,800,000
Est. payment /mo
Active
9015 Owensmouth Avenue Canoga Park (los Angeles), CA 91304
24,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 24,500 sqft
Price per Sqft $236
MLS Listing ID CL26672753
HOA Y/N No
Year Built 1972
Lot Size 1.105 Acres
Acres 1.11
Property Sub-Type Other
Property Description
9015 Owensmouth Ave 20-Unit Townhome-Style Asset on 1.10 AcresThis is a rare deal that offers both strong in-place cash flow and significant upside through renovation, ADUs, and future redevelopment.Key Highlights:Key Highlights:* 20-unit apartment community (1972) with large townhome units: (10) 4+2 and (10) 3+1.5 totaling 24,500 SF * Current NOI of approximately $289K with ~46% rental upside to market * Offered at $5.8M (~5% cap, $290K/unit, $236/SF, 11.23 GRM) * Situated on a rare 1.10-acre LAR3-zoned lot in an Opportunity ZoneValue-Add + Development Upside:* Immediate ADU potential: up to 13 additional units (conversion + detached) * By-right development potential of ~60 units* Up to ~102 units achievable with Tier 3 TOC incentives Location Fundamentals:* Positioned just off Topanga Canyon Blvd near Warner Center, CSUN, and Westfield Topanga* Strong rental demand with market rents significantly above current in-place rents* Excellent access to the 101 & 118 freeways and major employment hubsThis is an ideal opportunity for an investor looking to:*Execute a classic value-add strategy with mark-to-market rents*Add ADUs for yield expansion*Or land bank for future high-density redevelopment
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2779020042
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Listed by Daniel Withers • Matthews Real Estate Investment Services
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