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7501 Linley Ln - Ultimate 2-home Rental Property w/own yards 3,846 SF Specialty Building Offered at $1,797,000 at a 4.75% Cap Rate in Canoga Park, CA 91304

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INVESTMENT HIGHLIGHTS

  • Each home with its own backyard
  • Live in one and rent the other
  • 2-story completely independent homes

EXECUTIVE SUMMARY

Unique dual-home 1/4 acre compound including a primary 2,564 sq ft home with 4 bedrooms and 4 baths AND a completely separate and private 2-story 2 bedroom 2.5 bath 1,282 sq ft home (ADU) with large balcony overlooking the backyard. Each home includes its own private backyard. Located on a corner lot and in a highly desirable neighborhood in West Hills. This could serve as the perfect dual family or multigenerational home. The secondary home, with a completely private entrance and yard, can serve as a great long term rental allowing buyers to subsidize the mortgage with $3,250-$3,900 estimated monthly income. Investors may be interested in the rental income potential that both homes can potentially generate with $8,500-10,000 in rents.
The primary house has a large living room with fireplace leading out to the garden patio, perfect for entertaining and a backyard with space for a pool. The spacious master bedroom has high ceilings and a large walk-in closet. The master bathroom features a soaking tub, dual sinks and a separate shower. Many tremendous upgrades include remodeled bathrooms, recessed lighting, plantation shutters and newer wood laminate floors and tile throughout. There is an enclosed bonus room off the kitchen that could be used as a sun room, art room, play room or creative space. A separate dining room off of the kitchen complete this amazing home. This home includes central AC and heat
The secondary 1,282 sq ft home was recently constructed engineered with up-cycled steel shipping containers, incredible insulation, mini split air conditioning and heat, and triple glazed low-e windows. The home opens with a huge concrete pivot door to an open space kitchen / dining / living room. Nine foot ceilings and modern concrete floors frame this unique modern structure. The downstairs features an open kitchen with massive island/dining table, an open floor plan living room with an electric fireplace and a guest powder / laundry room. The upstairs is accessed by a four foot wide stairway with a unique exposed shipping container door accent wall. The upstairs living space includes a master bedroom with gorgeous master bath and walk in closet and a secondary bedroom with ensuite bathroom. Both bedrooms connect to a 32 ft long balcony.
Situated in the coveted El Camino school district and only minutes from the Commons, the Village and Warner Center.

FINANCIAL SUMMARY (PRO FORMA - 2022)

ANNUAL ANNUAL PER SF
Gross Rental Income $111,000 $28.86
Other Income - -
Vacancy Loss $3,300 $0.86
Effective Gross Income $107,700 $28.00
Taxes $21,564 $5.61
Operating Expenses $8,616 $2.24
Total Expenses $30,180 $7.85
Net Operating Income $77,520 $20.16

FINANCIAL SUMMARY (PRO FORMA - 2022)

Gross Rental Income
Annual $111,000
Annual Per SF $28.86
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $3,300
Annual Per SF $0.86
Effective Gross Income
Annual $107,700
Annual Per SF $28.00
Taxes
Annual $21,564
Annual Per SF $5.61
Operating Expenses
Annual $8,616
Annual Per SF $2.24
Total Expenses
Annual $30,180
Annual Per SF $7.85
Net Operating Income
Annual $77,520
Annual Per SF $20.16

PROPERTY FACTS

Price $1,797,000
Price Per SF $467.24
Sale Type Investment
Cap Rate 4.75%
Gross Rent Multiplier 15
Property Type Specialty
Property Subtype
Residential Income
  • Multifamily Apartments
Building Class C
Lot Size 0.28 AC
Building Size 3,846 SF
No. Stories 2
Year Built/Renovated 1978/2022
Parking Ratio 0.78/1,000 SF
Zoning R1 - R1 + ADU
  • Listing ID: 25822752

  • Date on Market: 6/1/2022

  • Last Updated:

  • Address: 7501 Linley Ln, Canoga Park, CA 91304

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