20301 Cohasset Ave Winnetka, CA 91306
22 Multifamily Units in Winnetka (Over 70% Upside)
SOLD: $3,150,000 CAP RATE: 5.11% GRM: 11.93 PRICE PER SQUARE FOOT: $212
We are pleased to announce the off market sale of 20301 Cohasset Ave a 22 unit multifamily property located in a strong Winnetka location positioned between Reseda and Canoga Park. The asset sold for $3,150,000 reflecting a 5.11% cap rate an 11.93 GRM a $143,182 price per unit and a $212 price per square foot.
The property offers a compelling value add opportunity with over 70% upside in market rents. The unit mix consists of two three bedroom two bathroom units fourteen one bedroom one bathroom units and six studio units. Many units were operating well below market and the building carried significant deferred maintenance allowing a new owner to reposition the asset and capture substantial income growth.
The site benefits from close proximity to numerous dining grocery shopping and entertainment options throughout the West Valley. The property is subject to LA City Rent Control and all units are separately metered for gas and electricity which helps maintain operational efficiency.
The asset was sold non contingent on day one underscoring strong investor demand. The transaction closed off market and the seller was represented by David Saghian.
Investment Highlights
Value add opportunity with over 70% upside in market rents
Prime Winnetka location positioned between Reseda and Canoga Park
Excellent unit mix with two three bedroom two bathroom units fourteen one bedroom one bathroom units and six studio units
Close proximity to extensive dining grocery shopping and entertainment options throughout the West Valley
Property is subject to LA City Rent Control
Sold non contingent on day one demonstrating strong investor demand
All units separately metered for gas and electricity
Seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com