21700 Roscoe Blvd Canoga Park, CA 91304
Multifamily Property in Canoga Park
SOLD: $4,975,000 CAP RATE: 5.34% GRM: 9.98 PRICE PER SQUARE FOOT: $173
28-unit apartment building located at 21700 Roscoe Blvd., Canoga Park, CA 91304. Built in 1962, this property already had its soft-story retrofit completed back in 2019. The building is on a corner lot and has secured parking for its tenants, large units, a sparkling swimming pool and on-site laundry facility. The unit mix is comprised of sixteen 1-bedroom/1-bathroom units, three 2-bedroom/2-bathroom units, and nine 2-bedroom/1½-bathroom townhouse-style units totaling approximately 28,821 rentable square feet on approximately 29,815 square feet of land zoned LAR3. The lot is within an opportunity zone and has a TOC Tier 3 bonus.
Situated in a very densely populated rental pocket of Canoga Park, this corner lot is at the intersection of Roscoe Boulevard and Owensmouth Avenue, just down the street from Lanark Park, and very close to plenty of stores and businesses along Roscoe Boulevard and Topanga Canyon Boulevard. With a good corner lot in a densely populated rental area, large units with a great unit mix, and fantastic upside potential.
Investment Highlights
28 units built in 1962 - Densely populated pocket in Canoga Park
Large units with great unit mix - Separately metered for gas and electricity
Sparkling swimming pool - All toilets have been replaced with new low flush toilets
Completed soft-story retrofit in 2019 - Huge corner lot with secured entrance and parking for tenants
14 units have central air conditioning. Majority of wall unit A/Cs have been replaced
Patrial copper plumbing - Majority of windows are new
Listed & Sold By:
Tony Sameyah
(310) 749-4475
tony@lyonstahl.com