21909 Lanark St - Apartments FOR SALE


Canoga Park, CA 91304
$7,000,000 USD
818-325-4142
21909 Lanark St, Canoga Park, CA for Sale
$7,000,000 USD
Apartments - FOR SALE
1/19
null | 5.36% Cap Rate

21909 Lanark St
Canoga Park, CA 91304


OVERVIEW

• Portfolio acquisition opportunity: Purchase this property individually or together with six additional properties totaling 161 units, all within a one-mile radius. • Short drive from the $10B Village development • Attractive existing assumable loan(contact agent for more information) • Transit Oriented Communities (TOC) Tier 3 • Approximately 50% upside potential • Located in an Opportunity Zone (OZ) • New roof installed in Year 2023 on both buildings • Walking distance to Sherman Way/Canoga Orange Line Metro Station • Lanark Recreation Center directly across the street • All electrical powered and only the water heater is gas powered • Soft story retrofit completed in Year 2019 • Video camera security system at building entrance and the parking entrance • On-site management • 2 washers and 2 dryers • Foundation of the apartment complex is raised • 33 total parking spaces - 19 tuck-under spaces and 14 covered spaces • Unit mix: 29 two-bedroom/two-bathroom units, 2 three-bedroom/two-bathroom units, and 2 one-bedroom/one-bathroom units • Security gates for apartment units • Water heater was replaced in January 2023 • Wall unit HVAC in each apartment unit

FOR SALE DETAILS

PRICE

$7,000,000 USD

PRICE/SF

$233 USD /SF

# OF UNITS

33

PRICE/UNIT

$212,121

CAP RATE

5.36%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

33 Units | 10.26 GRM | 5.36% Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.78 AC

LAND SF

33,932 SF

ZONING

R3, Canoga Park

APN/PARCEL ID

2110-001-049

ASK ABOUT THIS PROPERTY

Reza GhobadiColliersMore Info
818-325-4142

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Reza GhobadiColliersMore Info
818-325-4142

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.