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20 Units | $157,500K/Unit | 10.22 GRM 7336-7340 Milwood Ave, Canoga Park 20 Unit Apartment Building $4,379,350 CAD ($218,968 CAD/Unit) 5.03% Cap Rate Canoga Park, CA 91303
Executive Summary
• Portfolio acquisition opportunity: Purchase this property individually or together with five additional properties totaling 161 units, all located within a one-mile radius
• Short drive from the $10B RAMS Village development
• Attractive existing assumable loan (contact agent for more information)
• Transit Oriented Communities (TOC) Tier 3
• Located in an Opportunity Zone (OZ)
• Approximately 46% upside potential
• Subpanels have been upgraded
• New shingle roof was installed in Year 2016
• Walking distance to Sherman Way/Canoga Orange Line Metro Station
• Video camera security system at building entrance and the parking entrance
• Foundation of the apartment complex is raised
• 16 total parking spaces, all covered and security gated
• Water heaters were replaced within the last three years
• 4 washers and 4 dryers total (2 washers and 2 dryers per building), all rented
• Wall unit HVAC in each apartment unit
• Short drive from the $10B RAMS Village development
• Attractive existing assumable loan (contact agent for more information)
• Transit Oriented Communities (TOC) Tier 3
• Located in an Opportunity Zone (OZ)
• Approximately 46% upside potential
• Subpanels have been upgraded
• New shingle roof was installed in Year 2016
• Walking distance to Sherman Way/Canoga Orange Line Metro Station
• Video camera security system at building entrance and the parking entrance
• Foundation of the apartment complex is raised
• 16 total parking spaces, all covered and security gated
• Water heaters were replaced within the last three years
• 4 washers and 4 dryers total (2 washers and 2 dryers per building), all rented
• Wall unit HVAC in each apartment unit
Property Facts In Escrow
| Price | $4,379,350 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $218,968 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.03% | Building Size | 11,912 SF |
| Gross Rent Multiplier | 10.22 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 0.8/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR3 | ||
| Price | $4,379,350 CAD |
| Price Per Unit | $218,968 CAD |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 10.22 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 11,912 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 0.8/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 500 - 600 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,183,208 CAD | |
| Land Assessment | $1,364,229 CAD | Total Assessment | $4,547,437 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,364,229 CAD
Improvements Assessment
$3,183,208 CAD
Total Assessment
$4,547,437 CAD
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20 Units | $157,500K/Unit | 10.22 GRM | 7336-7340 Milwood Ave, Canoga Park
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