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2023 Fourplex | West Valley | 5.3% Cap 21721 Hart St 4 Unit Apartment Building $2,495,000 ($623,750/Unit) 5.31% Cap Rate Canoga Park, CA 91303
Investment Highlights
- 2023 construction — minimal deferred maintenance, full warranty runway, modern systems throughout
- Solar + individually metered utilities — operator-friendly cost structure, tenants pay direct
- 100,000 price improvement — recalibrated entry on a previously listed asset
- 4 units · 6,000+ SF — efficient unit mix, full-floor units with private balconies
- Projected 5.3% cap rate at stabilization — premium yield for newer-construction product in the West Valley
- Walk to Rams Village and the new Warner Center hospitality + retail corridor
Executive Summary
Repriced. Reintroduced. Ready. 21721 Hart St is a 2023-built, four-unit apartment building delivering over 6,000 square feet of institutional-quality multifamily in the heart of the West Valley, now offered with a $100,000 price improvement that sharpens the entry on one of the most operationally clean assets in the submarket.
Built to a current code, equipped with rooftop solar and individually metered utilities, and finished with open floor plans, oversized windows, and private balconies, the property pairs new-construction economics with minimal deferred maintenance, low operating drag, modern systems through their useful-life runway, with an infill location that institutional capital has been quietly accumulating for three years. A projected 5.3% stabilized cap rate sits well above what most newer-construction product is trading for in the immediate area. Positioned minutes from Rams Village, Westfield Topanga, the Calabasas border, and the 101 corridor, 21721 Hart St offers durable rental demand from one of LA's strongest tenant pools and the kind of long-term locational tailwind that doesn't show up in a trailing T-12. At the new price, the math finally meets the location.
Built to a current code, equipped with rooftop solar and individually metered utilities, and finished with open floor plans, oversized windows, and private balconies, the property pairs new-construction economics with minimal deferred maintenance, low operating drag, modern systems through their useful-life runway, with an infill location that institutional capital has been quietly accumulating for three years. A projected 5.3% stabilized cap rate sits well above what most newer-construction product is trading for in the immediate area. Positioned minutes from Rams Village, Westfield Topanga, the Calabasas border, and the 101 corridor, 21721 Hart St offers durable rental demand from one of LA's strongest tenant pools and the kind of long-term locational tailwind that doesn't show up in a trailing T-12. At the new price, the math finally meets the location.
Property Facts
| Price | $2,495,000 | Building Class | B |
| Price Per Unit | $623,750 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 6,200 SF |
| Cap Rate | 5.31% | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Apartment Style | Townhome | Opportunity Zone |
Yes
|
| Zoning | LAR3 - Restricted Density Multiple Dwelling | ||
| Price | $2,495,000 |
| Price Per Unit | $623,750 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 6,200 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 1.29/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 2138-004-010 | Improvements Assessment | $1,387,200 |
| Land Assessment | $1,142,400 | Total Assessment | $2,529,600 |
Property Taxes
Parcel Number
2138-004-010
Land Assessment
$1,142,400
Improvements Assessment
$1,387,200
Total Assessment
$2,529,600
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2023 Fourplex | West Valley | 5.3% Cap | 21721 Hart St
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