8750 Owensmouth Ave - Apartments FOR SALE


Canoga Park, CA 91304
$3,100,000 USD
818-943-2319
8750 Owensmouth Ave, Canoga Park, CA for Sale
$3,100,000 USD
Apartments - FOR SALE
1/14
null | 5.11% Cap Rate

8750 Owensmouth Ave
Canoga Park, CA 91304


HIGHLIGHTS

  • Canoga Park location
  • Desirable unit mix of eighteen (18) 1+1 units, two (2) 2+1 units, plus one (1) non-conforming studio unit
  • Significant Upside in Rents- Approximately 44% Upside
  • Built in 1961 with approximately 15,888 square feet of rentable area on a 19,117 square foot lot
  • Proximity to key employment hubs such as Warner Center, Westfield Topanga, The Village, and the broader West Valley business districts
  • Seismic Retrofit HAS NOT Been Completed and Roof is at the End of its Useful Life

OVERVIEW

The Sterman Multi-Family Group of Marcus & Millichap is pleased to present 8750 Owensmouth Avenue, a 20-unit apartment community with one (1) additional non-conforming unit, located in the Canoga Park neighborhood of the western San Fernando Valley. Built in 1961, the property offers 15,888 square feet of rentable area on a 19,117-square-foot lot. The building features an efficient unit mix of eighteen (18) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) non-conforming studio unit, supported by spacious layouts and durable mid-century construction. These characteristics drive a strong tenant appeal and consistent occupancy, while still offering clear opportunities for modernization and value-add improvements. 8750 Owensmouth Avenue is minutes from Warner Center, Westfield Topanga, The Village, and numerous dining, retail, and entertainment amenities. Its proximity to major employment hubs, along with convenient access to the 101 and 118 Freeways, Metro bus lines, and the Orange Line, enhances its long-term renter demand. Positioned in a supply-constrained and steadily growing submarket, 8750 Owensmouth Avenue presents a compelling opportunity to acquire a well-located multifamily property with stable income and strong potential for future appreciation.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$195 USD /SF

# OF UNITS

20

PRICE/UNIT

$155,000

CAP RATE

5.11%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,123 SF

ZONING

LAR3

APN/PARCEL ID

2779-041-012

ASK ABOUT THIS PROPERTY

Michael StermanMarcus & MillichapMore Info
818-943-2319

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Michael StermanMarcus & MillichapMore Info
818-943-2319

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