9015 Owensmouth Avenue, Canoga Park, CA 91304
- $5,095,000
- 70
- BD
- 40
- BA
- 24,500
- SqFt
- List Price
- $5,095,000
- Price Change
- ▼ $65,000 1790281453
- Status
- ACTIVE
- MLS#
- 26672753
- Year Built
- 1972
- Bedrooms
- 70
- Bathrooms
- 40
- Living Sq. Ft
- 24,500
- Lot Size
- 48,132
- Acres
- 1.11
- Days on Market
- 175
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
9015 Owensmouth Ave | 20-Unit Townhome-Style Asset on 1.10 AcresRare value-add opportunity offering approximately 41% rental upside to market, providing significant potential for NOI growth through mark-to-market rents, while also offering substantial ADU and redevelopment potential.Key Highlights:20-unit townhome-style community totaling approximately 24,500 SF~41% rental upside to market with significant NOI growth potentialCurrent NOI of approximately $299KOffered at $5.095M (~5.88% cap rate; $254,750/unit; $207/SF)Rare 1.10-acre LAR3-zoned lot in an Opportunity ZonePotential for up to 13 additional ADUsPotential for approximately 60 units by-right, with up to ~102 units under Tier 3 TOC incentivesPrime Canoga Park location near Warner Center, CSUN and Westfield Topanga, with convenient access to the 101 and 118 freewaysInvestment Opportunity:Unlock significant value by bringing rents closer to market, adding ADUs, and pursuing the property's longer-term redevelopment potential.
Additional Information
- Attached Structure
- Detached
- Number Of Units Total
- 20
Listing courtesy of Listing Agent: Daniel Withers (daniel.withers@matthews.com) from Listing Office: Matthews Real Estate Investment Services.
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