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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 5,160,000

Est. payment | -/mo

70 Beds

40 Baths

24,500 SqFt

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$ 5,160,000

Est. payment | -/mo

Save

70 Beds

40 Baths

24,500 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 24,500 sqft

Price per Sqft $210

MLS Listing ID 26672753

Bedrooms 70

HOA Y/N No

Year Built 1972

Lot Size 1.105 Acres

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.

Location

State CA

County Los Angeles

Area Cp - Canoga Park

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features Assigned

Total Parking Spaces 40

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 2779020042

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Daniel Withers Matthews Real Estate Investment Services #01325901

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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9015 Owensmouth AVE Canoga Park, CA 91304