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21727 Lassen Street, Chatsworth, CA

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21727 Lassen Street

Chatsworth, CA 91311 - Chatsworth MF Submarket

Property Type:Multi-Family Number of Units:7 Status:Existing Year Built:1976
Stories:2 Building Size:6,238 SF Land Area:.18 AC (8,050 SF)
For Sale Price:$1,530,000 Price/Unit:$218,571.43 Cap Rate:3.54 % GRM:16.08

Parking:2 Parking Spaces / 1,000 SF

Property Description: Multi Family - 7 Units

Sale Notes:
Marcus & Millichap is pleased to present this seven (7) unit apartment building located at 21727 Lassen Street in Chatsworth, CA. This rare Chatsworth opportunity is located in the west San Fernando Valley, which consists of over 40,000 residents within the neighborhood. Chatsworth is adjacent to the Santa Susana Mountains on the north, Porter Ranch & Northridge on the east, Winnetka, Canoga Park & West Hills on the south, and Simi Hills on the west.

This property was built in 1976, and consists of five (5), one bedroom/one bathroom townhouse style units, one (1), two bedroom/one bathroom townhouse style unit, and one (1) two bedroom/two bathroom unit on the second story. This property is situated on a 8,051 SF lot zoned LAR3, and the building is a total of 6,238 SF per public record. This two-story apartment building features a pitched roof, on-site laundry facility, and parking in the rear. Each unit is separately metered for gas and electric. The units feature townhouse style units with spacious layouts, ample closet space, and wall heaters/air conditioning.

With upside in current rents, this property provides an excellent opportunity for an operator to increase rental income through a more aggressive management style and renovation program. This property is in an excellent location within the San Fernando Valley, and is in close proximity to the 118 Freeway, Chatsworth Train Station, Orange Line Pedestrian and Bike Path, and major retail corridor.

Marcus & Millichap
Matt Ziegler
(818) 212-2738

Jordan Fischer
(818) 212-2774

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