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$ 5,400,000
Est. payment | /mo
70 Beds
40 Baths
24,500 SqFt
$ 5,400,000
Est. payment | /mo
70 Beds
40 Baths
24,500 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 24,500 sqft
Price per Sqft $220
MLS Listing ID 26672753
Bedrooms 70
HOA Y/N No
Year Built 1972
Lot Size 1.105 Acres
Property Description
9015 Owensmouth Ave 20-Unit Townhome-Style Asset on 1.10 AcresThis is a rare deal that offers both strong in-place cash flow and significant upside through renovation, ADUs, and future redevelopment.Key Highlights:Key Highlights:* 20-unit apartment community (1972) with large townhome units: (10) 4+2 and (10) 3+1.5 totaling 24,500 SF * Current NOI of approximately $295K with ~41% rental upside to market * Offered at $5.4M (~5.48% cap, $270K/unit, $220/SF, 10.43 GRM) * Situated on a rare 1.10-acre LAR3-zoned lot in an Opportunity ZoneValue-Add + Development Upside:* Immediate ADU potential: up to 13 additional units (conversion + detached) * By-right development potential of ~60 units* Up to ~102 units achievable with Tier 3 TOC incentives Location Fundamentals:* Positioned just off Topanga Canyon Blvd near Warner Center, CSUN, and Westfield Topanga* Strong rental demand with market rents significantly above current in-place rents* Excellent access to the 101 & 118 freeways and major employment hubsThis is an ideal opportunity for an investor looking to:*Execute a classic value-add strategy with mark-to-market rents*Add ADUs for yield expansion*Or land bank for future high-density redevelopmentWe're currently scheduling tours and accepting offers. I'd be happy to walk you through the underwriting and different execution strategies depending on your investment goals.Please let me know a good time to connect.
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 40
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2779020042
Special Listing Condition Standard
Listed by Daniel Withers Matthews Real Estate Investment Services #01325901
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