Topanga Villa is a well located 15 unit garden-style building with a central courtyard. The building has a great unit mix featuring a majority of two bedroom/two bath units. Units are very large and average over 970 SF. The building is consistently 100% occupied.
This building has tremendous rental upside. Existing rents are 55% below market. Great opportunit for an investor looking for a well located, value-add
property that is in a high rental area in the west valley ( bordering West Hills and Chatsworth).
First time on the market in 29 years. The list price is below replacement cost at only $226.44 per SF and $215,000 per unit. Lowest priced apartment complex in the area. Rents have not been raised in four years. Opportunity to raise rents projecteded at 7.8% February 2024 which will be a 5% cap rate in a few months.!!
Sold for $2,950,000
Zillow last checked:
Listing updated:
Bought with:
NONE NONE, DRE #N/A
None MRML
Source: CRMLS,MLS#: SR23146343
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSPrice history
| Date | Event | Price |
|---|---|---|
| 1/25/2024 | Sold | $2,950,000-8.5%$207/sqft |
Source:  CRMLS #SR23146343 Report a problem | ||
| 12/31/2023 | Pending sale | $3,225,000$226/sqft |
Source: CRMLS #SR23146343 Report a problem | ||
| 11/3/2023 | Contingent | $3,225,000$226/sqft |
Source: CRMLS #SR23146343 Report a problem | ||
| 9/15/2023 | Price change | $3,225,000-7.9%$226/sqft |
Source: CRMLS #SR23146343 Report a problem | ||
| 8/7/2023 | Listed for sale | $3,500,000$246/sqft |
Source: CRMLS #SR23146343 Report a problem | ||
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Estimated market value
$1,549,200
