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$3,000,000

7101 Alabama Avenue
Canoga Park, CA 91303

For Sale|Multi-Family|Pending
Subdivision:
County:
Los Angeles

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7101  Alabama Avenue7101  Alabama Avenue7101  Alabama Avenue7101  Alabama Avenue
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7101 Alabama Ave is a 23-unit value-add garden style apartment investment opportunity located within a half mile/walking distance of Westfield Topanga and The Village. The property offers excellent cash flow opportunity for an astute investor that wants to maximize their ROI. The property has been in the same ownership for more than 15 years and all tenants are on month-to-month agreement, providing a ripe opportunity for new owner to add serious value to the property through upgrade and mark to market st 7101 Alabama Ave is a 23-unit value-add garden style apartment investment opportunity located within a half mile/walking distance of Westfield Topanga and The Village. The property offers excellent cash flow opportunity for an astute investor that wants to maximize their ROI. The property has been in the same ownership for more than 15 years and all tenants are on month-to-month agreement, providing a ripe opportunity for new owner to add serious value to the property through upgrade and mark to market strategy. It has undergone major capital improvements such as new roof installed in 2013, plumbing re-pipe completed in 2019, new laundry machines installed in 2020, and recently touch-up exterior paint. It is being offered at low price per unit and attractive CAP Rate with an extremely attractive proforma CAP Rate of close to 7%. The property was built in 1963 and has a total of 23-units with efficient unit mix of 1 x studio and 22 x bachelors/small studio with a cooktop. It offers 13 open space parking and plenty of street parking; no soft story retrofit is needed. It is within walking distance or just mile away from Westfield Topanga and The Village and ideally located within short walking distance of Uptown Warner Center, a 47 acre, $3.4 billion proposed mixed use development that will change the landscape of the Warner Center, making it the largest master planned community in Los Angeles.

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Listing Snapshot
Price
$3,000,000
Days Online
51 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Partial Baths
N/A
Lot Size
0.1723 Acres
Year Built
N/A
MLS Number
AR20215142
Status
Pending
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
16 hours agoListing updated with changes from the MLS
a week agoStatus changed to PENDING
2 months agoListing first seen online
General Features
Terms
Cash
Stories
2 Story
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Exterior Features
Pool
N/K
Schools
School District
Unknown
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of GIG Real Estate Inc.

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2018-present San Diego MLS®.
Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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