Listing banner image
  • Property Type
    MultifamilyProperty Type
  • Year Built
    2020Year Built
  • Total Units
    9Total Units
  • Asking Price
    $5,100,000Asking Price
  • NOI
    $268,740NOI
  • In-Place Rents
    $3,546In-Place Rents

Description

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...

Documents

Offering Summary

  • Asking Price
    $5,100,000
  • Price PSF
    $433
  • Price/Unit
    $566,667

Sale Details

  • Cap Rate
    5.27%
  • NOI
    $268,740
  • Stabilized Cap Rate
    5.62%
  • Stabilized NOI
    $286,451
  • In-Place Cap Rate
    5.27%
  • In-Place NOI
    $268,740
  • GRM
    13.32
  • Potential GRM
    12.69
  • Cash-on-Cash
    4.80%
  • In-Place Rents
    3,546
  • Market Rents
    3,722
  • Rents Below Market
    5.0%

Documents

Property Address

7018 Alabama Avenue
Canoga Park, CA 91303

Property Details

  • Property Type
    Multifamily
  • Total Units
    9
  • Occupancy
    100%
  • Average Unit Size
    1,307 SF
  • Average Rent
    3,546 $/mo
  • Year Built
    2020

Property Details

  • Property Type
    Multifamily
  • Total Units
    9
  • Occupancy
    100%
  • Average Unit Size
    1,307 SF
  • Average Rent
    3,546 $/mo
  • Year Built
    2020

Deal Team

Filip Niculete profile image
Filip Niculete

Description

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...

Documents

Offering Summary

  • Asking Price
    $5,100,000
  • Price PSF
    $433
  • Price/Unit
    $566,667

Sale Details

  • Cap Rate
    5.27%
  • NOI
    $268,740
  • Stabilized Cap Rate
    5.62%
  • Stabilized NOI
    $286,451
  • In-Place Cap Rate
    5.27%
  • In-Place NOI
    $268,740
  • GRM
    13.32
  • Potential GRM
    12.69
  • Cash-on-Cash
    4.80%
  • In-Place Rents
    3,546
  • Market Rents
    3,722
  • Rents Below Market
    5.0%

Documents

Property Address

7018 Alabama Avenue
Canoga Park, CA 91303

Property Details

  • Property Type
    Multifamily
  • Total Units
    9
  • Occupancy
    100%
  • Average Unit Size
    1,307 SF
  • Average Rent
    3,546 $/mo
  • Year Built
    2020

Property Details

  • Property Type
    Multifamily
  • Total Units
    9
  • Occupancy
    100%
  • Average Unit Size
    1,307 SF
  • Average Rent
    3,546 $/mo
  • Year Built
    2020

Deal Team

Filip Niculete profile image
Filip Niculete
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