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7028 Alabama Ave 10 Unit Apartment Building $2,414,015 CAD ($241,402 CAD/Unit) 5.93% Cap Rate Canoga Park, CA 91303
INVESTMENT HIGHLIGHTS
- Adjacent to Warner Center
- Substanital redevelopment opportunity
- Gated sub-terranean parking - 12 spaces
- 2.5 blocks north of Vanowen, west of Canoga
- Built in 1977
- All one bedroom, one bath units
EXECUTIVE SUMMARY
The Alabama property currently consists of ten, one bedroom, one bath multifamily units built over sub-terranean parking.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$266,673
|
$37.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,333
|
$0.74
|
| Effective Gross Income |
$261,340
|
$36.46
|
| Taxes |
-
|
-
|
| Operating Expenses |
$118,075
|
$16.47
|
| Total Expenses |
$118,075
|
$16.47
|
| Net Operating Income |
$143,265
|
$19.99
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $266,673 |
| Annual Per SF | $37.21 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,333 |
| Annual Per SF | $0.74 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $261,340 |
| Annual Per SF | $36.46 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $118,075 |
| Annual Per SF | $16.47 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $118,075 |
| Annual Per SF | $16.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $143,265 |
| Annual Per SF | $19.99 |
PROPERTY FACTS
| Price | $2,414,015 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $241,402 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.93% | Building Size | 7,167 SF |
| Gross Rent Multiplier | 9.05 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1977 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3 - Multiple Dwelling | ||
| Price | $2,414,015 CAD |
| Price Per Unit | $241,402 CAD |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| Gross Rent Multiplier | 9.05 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,167 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Kitchen
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 695 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 2138-013-007 | Total Assessment | $3,097,450 CAD (2025) |
| Land Assessment | $1,394,638 CAD (2025) | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,702,812 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2138-013-007
Land Assessment
$1,394,638 CAD (2025)
Improvements Assessment
$1,702,812 CAD (2025)
Total Assessment
$3,097,450 CAD (2025)
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2024
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7028 Alabama Ave
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