8555 Independence Avenue

    Canoga Park, CA 91304
    • $5,680,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: 18313636
    UPDATED: 42 min ago
    $5,680,000
    • 0
      BEDS
    • 0.7
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,389
      SQFT
    • $309
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1979
    County:

    School Ratings & Info

    Description

    CALL FOR OFFERS (FRIDAY, FEBRUARY 23rd at 3:00pm) CONTACT LISTING AGENT TO SCHEDULE PROPERTY TOUR.VALUE ADD OPPORTUNITY - RENT SIGNIFICANTLY BELOW MARKET (35% upside in rents)Matthews Real Estate Investment Services is pleased to offer for sale the Independence Apartments, a 29-unit apartment building located in Canoga Park, CA. The asset was built in 1979 and is not subject to rent control. The property has an excellent unit mix including 18 Studio units, 9 one-bedroom / one-bathroom units, 1 two-bedroom / one-bathroom units, and 1 two-bedroom / two and a half bathroom units. The property also boasts a strong amenity package including gated parking spaces (open and tuck-under), intercom entry, a swimming pool, and an on-site laundry facility, Unit amenities include central air and heat, spacious floor plans, with some units with patios and balconies.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-24T12:27:03.557. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.themarellygroup.com/homes/80774795

    8555 Independence Avenue Canoga Park, CA 91304

    • Price: $5,680,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 18313636
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.7
    Acres
    18,389
    SQFT
    $309
    $/SQFT
    1979
    Built
    Neighborhood:
    CP - Canoga Park
    County:
    Los Angeles
    Area:
    CP - Canoga Park
    Property Description
    CALL FOR OFFERS (FRIDAY, FEBRUARY 23rd at 3:00pm) CONTACT LISTING AGENT TO SCHEDULE PROPERTY TOUR.VALUE ADD OPPORTUNITY - RENT SIGNIFICANTLY BELOW MARKET (35% upside in rents)Matthews Real Estate Investment Services is pleased to offer for sale the Independence Apartments, a 29-unit apartment building located in Canoga Park, CA. The asset was built in 1979 and is not subject to rent control. The property has an excellent unit mix including 18 Studio units, 9 one-bedroom / one-bathroom units, 1 two-bedroom / one-bathroom units, and 1 two-bedroom / two and a half bathroom units. The property also boasts a strong amenity package including gated parking spaces (open and tuck-under), intercom entry, a swimming pool, and an on-site laundry facility, Unit amenities include central air and heat, spacious floor plans, with some units with patios and balconies.
    Exterior Features

    Lot Features Sprinklers None Lot Size Units Square Feet Parking Features Assigned Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 3.53 Gross Multiplier 15.56 Gross Operating Income 361596.00 Improvements Amount 1426538 Land Value 760732 Laundry YN Yes Net Operating Income 200294.00 Special Listing Conditions Standard Total Expenses 153954.00 Zoning Lar3

    Listing provided courtesy of Daniel Withers of Matthews Retail Group, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-24T12:27:03.557. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    The Marelly Group | Realty One Group
    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003