Address
7101 Alabama Avenue Canoga Park, CA
Price
$ 3,000,000
Property Attributes
  • MLS#AR20215142
  • TypeIncome
  • CountyLOS ANGELES
  • CityCanoga Park
  • AreaCanoga Park
  • Zip91303
  • Style
  • Price$ 3,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size7,505 SqFt
Listing Provided Courtesy Of:
Handoko Chen with GIG Real Estate Inc..
Property Description

7101 Alabama Ave is a 23-unit value-add garden style apartment investment opportunity located within a half mile/walking distance of Westfield Topanga and The Village. The property offers excellent cash flow opportunity for an astute investor that wants to maximize their ROI. The property has been in the same ownership for more than 15 years and all tenants are on month-to-month agreement, providing a ripe opportunity for new owner to add serious value to the property through upgrade and mark to market strategy. It has undergone major capital improvements such as new roof installed in 2013, plumbing re-pipe completed in 2019, new laundry machines installed in 2020, and recently touch-up exterior paint. It is being offered at low price per unit and attractive CAP Rate with an extremely attractive proforma CAP Rate of close to 7%. The property was built in 1963 and has a total of 23-units with efficient unit mix of 1 x studio and 22 x bachelors/small studio with a cooktop. It offers 13 open space parking and plenty of street parking; no soft story retrofit is needed. It is within walking distance or just ½ mile away from Westfield Topanga and The Village and ideally located within short walking distance of Uptown Warner Center, a 47 acre, $3.4 billion proposed mixed use development that will change the landscape of the Warner Center, making it the largest master planned community in Los Angeles.

Price History
10/13/2020 Listed $3,000,000

General Features

Assessments Buyer to Verify
Attached Structure Attached
Carport Spaces 0.00
Community Features Sidewalks
Directions east of Topanga and west of Canoga Ave
Garage Spaces 0.00
HOA Fee 0.00
Levels Two
Listagentaor Arcadia
Listing Agent Handoko Chen - BRE#01749321
Listing Agent State License 01749321
MLS Area CP - Canoga Park
Number of Units Leased 23
Pool Features None
Property Attached Y/N Yes
Sewer Public Sewer
Source System CRMLS
Special Listing Conditions Standard
Total Units 23
Zoning LAC2

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 2+ Common Walls
Fireplace Features None
Laundry Features Community
Laundry Y/N Yes
Studio Area Unit Type Square Feet
Total Stories 2

Exterior Features

Building Area Total 0.00
Lot Features Lot 6500-9999
Lot Size Acres 0.1723
Lot Size Area 7504.0000
Lot Size Source Assessor
Lot Size Square Feet 7504.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 23
Number of Separate Gas Meters 23
Number of Separate Water Meters 1
Total Parking 13.00
Uncovered Spaces 13.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91303

Price
AVG $3.27M
$3M
Visits
AVG 37
8
Year Built
AVG 1976
1963
Walkscore
AVG 79
87
Data Provided by Walkscore ® not using MLS data

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