7018 Alabama Avenue

7018 Alabama Avenue presents a rare opportunity to acquire a fully leased, Class-A mid-rise multifamily asset in Canoga Park’s thriving West Valley submarket. Built in 2020 and comprising nine spacious units across 11,765 square feet, this modern development boasts controlled elevator access, covered parking with EV charging stations, secure storage lockers, and a rooftop deck that enhances resident appeal. With 100% occupancy and contemporary finishes throughout, the property is turnkey and positioned for continued strong performance.

Investors will value the in-place net operating income of $268,740, equating to a 5.27% cap rate based on the $5,100,000 asking price (approximately $433.49 per square foot and $566,667 per door). Current average rents of $3,546 per unit sit 5% below market at $3,722, offering immediate upside to achieve a stabilized NOI of $286,451 and a projected cap rate of 5.62%. Additional metrics include a gross rent multiplier of 13.32 and a cash-on-cash return of 4.8%, underscoring both stable income and moderate growth potential for a multifamily portfolio.

Each unit averages 1,307 square feet, featuring open layouts and high-end finishes designed to meet the expectations of today’s renters. Premium onsite amenities—including controlled elevator entry, ample covered parking, EV charging stations, secure storage spaces, and a communal rooftop deck—drive tenant retention and support operational efficiency. The property’s low-maintenance construction and modern systems contribute to predictable expense management and long-term value preservation. Strategically located in the heart of Canoga Park, the building offers residents convenient access to a diverse retail corridor, regional employment hubs, major thoroughfares, and nearby public transit options. This asset is ideally suited for investors seeking stable cash flow, immediate rent growth, and exposure to one of Los Angeles’s most dynamic West Valley neighborhoods.