Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

923 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

33 Units | 10.26 GRM | 5.36% Cap Rate 21909 Lanark St 33 Unit Apartment Building $7,000,000 ($212,121/Unit) 5.36% Cap Rate Canoga Park, CA 91304

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Executive Summary

• Portfolio acquisition opportunity: Purchase this property individually or together with six additional properties totaling 161 units, all within a one-mile radius.
• Short drive from the $10B Village development
• Attractive existing assumable loan(contact agent for more information)
• Transit Oriented Communities (TOC) Tier 3
• Approximately 50% upside potential
• Located in an Opportunity Zone (OZ)
• New roof installed in Year 2023 on both buildings
• Walking distance to Sherman Way/Canoga Orange Line Metro Station
• Lanark Recreation Center directly across the street
• All electrical powered and only the water heater is gas powered
• Soft story retrofit completed in Year 2019
• Video camera security system at building entrance and the parking entrance
• On-site management
• 2 washers and 2 dryers
• Foundation of the apartment complex is raised
• 33 total parking spaces - 19 tuck-under spaces and 14 covered spaces
• Unit mix: 29 two-bedroom/two-bathroom units, 2 three-bedroom/two-bathroom units, and 2 one-bedroom/one-bathroom units
• Security gates for apartment units
• Water heater was replaced in January 2023
• Wall unit HVAC in each apartment unit

Property Facts

Price	$7,000,000	Building Class	C
Price Per Unit	$212,121	Lot Size	0.78 AC
Sale Type	Investment	Building Size	30,091 SF
Cap Rate	5.36%	Average Occupancy	100%
Gross Rent Multiplier	10.26	No. Stories	2
No. Units	33	Year Built	1964
Property Type	Multifamily	Parking Ratio	0.99/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	R3, Canoga Park

Price	$7,000,000
Price Per Unit	$212,121
Sale Type	Investment
Cap Rate	5.36%
Gross Rent Multiplier	10.26
No. Units	33
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.78 AC
Building Size	30,091 SF
Average Occupancy	100%
No. Stories	2
Year Built	1964
Parking Ratio	0.99/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R3, Canoga Park