7260 Canby Ave 6 Unit Apartment Building $1,425,000 ($237,500/Unit) 4.75% Cap Rate Reseda, CA 91335
INVESTMENT HIGHLIGHTS
- Plans for two ADUs are ready to issue, maximizing rental income
- In-Place 4.75% cap rate, projected 7.08% cap rate post-ADU additions
- Convenience at Your Doorstep: Close to shopping, dining, and CSUN
- Newer roof, copper plumbing, modern flooring, and updated windows
- Strong Post ADU Cash Flow: 7.60% Pre-Tax cash flow post ADU
- Excellent Transit Access: Steps from Metro Local 240 & DASH Northridge (0.1 miles) | Prime Location: Walk Score of 86 – a highly walkable neighborhood
EXECUTIVE SUMMARY
Value-Add 6-Unit Multifamily with ADU Potential in Prime Reseda, CA
An excellent investment opportunity with immediate income and strong upside potential! This 6-unit apartment building in the heart of Reseda offers a 4.75% cap rate with plans ready to issue for two ADUs, boosting the projected cap rate to 7.08%.
Property Highlights:
*Upgraded features – Newer roof, copper plumbing, modern flooring, and updated windows
*ADU potential – RTI plans for 2 additional units, maximizing future rental income
*Exceptional value – Just $228,125 per unit and $272 per square foot post-ADU
*Strong post-ADU cash flow – 7.60% pre-tax return after additions
*Prime location – Walk Score of 86, near shopping, dining, CSUN & transit (Metro Local 240 & DASH Northridge)
Contact us today for details.
An excellent investment opportunity with immediate income and strong upside potential! This 6-unit apartment building in the heart of Reseda offers a 4.75% cap rate with plans ready to issue for two ADUs, boosting the projected cap rate to 7.08%.
Property Highlights:
*Upgraded features – Newer roof, copper plumbing, modern flooring, and updated windows
*ADU potential – RTI plans for 2 additional units, maximizing future rental income
*Exceptional value – Just $228,125 per unit and $272 per square foot post-ADU
*Strong post-ADU cash flow – 7.60% pre-tax return after additions
*Prime location – Walk Score of 86, near shopping, dining, CSUN & transit (Metro Local 240 & DASH Northridge)
Contact us today for details.
PROPERTY FACTS
| Price | $1,425,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,108 SF |
| No. Stories | 2 |
| Year Built | 1954 |
| Parking Ratio | 2.55/1,000 SF |
| Zoning | LAR2 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 of 1
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 2119-021-017 | Improvements Assessment | $400,399 |
| Land Assessment | $580,291 | Total Assessment | $980,690 |
CONTACT
-
Kelly Morgan -
Kelly Morgan Multifamily Group
