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7028 Alabama Ave 10 Unit Apartment Building $1,700,000 ($170,000/Unit) 6.13% Cap Rate Canoga Park, CA 91303
INVESTMENT HIGHLIGHTS
- Adjacent to Warner Center
- Substanital redevelopment opportunity
- Gated sub-terranean parking - 12 spaces
- 2.5 blocks north of Vanowen, west of Canoga
- Built in 1977
- All one bedroom, one bath units
EXECUTIVE SUMMARY
The Alabama property currently consists of ten, one bedroom, one bath multifamily units built over sub-terranean parking.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$192,768
|
$26.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,855
|
$0.54
|
| Effective Gross Income |
$188,913
|
$26.36
|
| Taxes |
-
|
-
|
| Operating Expenses |
$84,780
|
$11.83
|
| Total Expenses |
$84,780
|
$11.83
|
| Net Operating Income |
$104,133
|
$14.53
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $192,768 |
| Annual Per SF | $26.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,855 |
| Annual Per SF | $0.54 |
| Effective Gross Income | |
|---|---|
| Annual | $188,913 |
| Annual Per SF | $26.36 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $84,780 |
| Annual Per SF | $11.83 |
| Total Expenses | |
|---|---|
| Annual | $84,780 |
| Annual Per SF | $11.83 |
| Net Operating Income | |
|---|---|
| Annual | $104,133 |
| Annual Per SF | $14.53 |
PROPERTY FACTS
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.13% | Building Size | 7,167 SF |
| Gross Rent Multiplier | 8.82 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1977 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3 - Multiple Dwelling | ||
| Price | $1,700,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 6.13% |
| Gross Rent Multiplier | 8.82 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,167 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Kitchen
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 695 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 2138-013-007 | Total Assessment | $2,197,568 |
| Land Assessment | $989,463 | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $1,208,105 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
2138-013-007
Land Assessment
$989,463
Improvements Assessment
$1,208,105
Total Assessment
$2,197,568
Annual Taxes
$0 ($0.00/SF)
Tax Year
2025
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7028 Alabama Ave
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