9015 Owensmouth Avenue, Canoga Park, CA 91304
- $5,160,000
- 70
- BD
- 40
- BA
- 24,500
- SqFt
- List Price
- $5,160,000
- Price Change
- ▼ $240,000 1782858700
- Status
- ACTIVE
- MLS#
- 26672753
- Year Built
- 1972
- Bedrooms
- 70
- Bathrooms
- 40
- Living Sq. Ft
- 24,500
- Lot Size
- 48,132
- Acres
- 1.11
- Days on Market
- 118
- Property Type
- Multifamily
- Stories
- Multi Level
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 $299K with ~41% rental upside to market * Offered at $5.4M (~5.79% cap, $258K/unit, $210/SF, 9.97 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 redevelopmentWe're currently scheduling tours and accepting offers. I'd be happy to walk you through the underwriting and different execution strategies depending on your investment goals.Please let me know a good time to connect.
/u.realgeeks.media/jeremysifuentes/header.png)
Additional Information
- Attached Structure
- Detached
- Number Of Units Total
- 20
Listing courtesy of Listing Agent: Daniel Withers (daniel.withers@matthews.com) from Listing Office: Matthews Real Estate Investment Services.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.