We are very pleased to exclusively offer for sale for the first time in over 50 years The Stanbarry Apartments, 21 units located at 21133 Saticoy Street in Canoga Park. Built in 1951, The Stanbarry Apartments is comprised of 20 2-bedroom units and one 3-bedroom unit. The property totals 24,528 square feet on a 24,222 square foot corner lot zoned R3. The property has already had the seismic retrofit completed and all seismic gas shutoff valves have been installed. These large and bright unit feature private 1st floor patios as well as 2nd story balconies, individual garages and an on-site laundry room for tenants units. All the units open onto a controlled access courtyard that is beautifully landscaped with mature landscaping and blooming flowers. 21133 Saticoy received a new roof in 2006 and the plumbing was updated in 2019. Current annual gross income totals $338,592 with consistent 100% occupancy, offering significant income upside potential of nearly 40% higher rents upon re-tenanting. The property is priced below replacement value at $255,000 per unit and $218 per foot. The Stanbarry Apartments offers a saavy investor the opportunity to purchase a well-maintained 21-unit multi-family asset with significant income upside potential in the extremely strong rental pocket of Canoga Park. The Stanbarry Apartments can be purchased along with 15042 & 15046 Dickens Street in Sherman Oaks for $5,850,000 as part of a portfolio including The Stanbarry Apartments for a total offering price of $11,200,000. Rare opportunity to acquire 37 prime value-add units!
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