LARGE 30 unit building in Canoga Park on a quiet street near Sherman Way and Desoto. Excellent unit mix! *** ALL 2 bedroom and 3 bedroom units! *** 24 - 2 bedroom / 1 bath and 6 - 3 bedroom / 2 bath. Two of the 3 bedroom units have small private yards. 30 car parking. Huge square footage building and lot! Excellent value at $116. / sq. foot including land! 8.77 X Gross! 7%+ cap rate! Lots of upside potential on the rents. Cap rate is over 7% this year with upside potential still on 50% of the units.*** Market Rents: Two bedroom units will rent for $1100. to $1150. / month and three bedroom units will rent for $1450. / month. All units have south facing balconies. Some units are upgraded. Pool in the complex. Tell your investors this apartment building will generate excellent income in the years to come. Existing loan of $2,000,000. may be assumable. Bring offers!
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