Price: $5,500,000
Price/BSF: $190.83 | Price/Unit: $196,429
Lot Size: 29,815 SF | Building Size: 28,821 SF
ADDRESS
21700 Roscoe Blvd.
Canoga Park, CA 91304
Colliers International’s Ghobadi Multifamily Team is excited to introduce this 28-unit apartment building located at 21700 Roscoe Blvd., Canoga Park, CA 91304. Built in 1962, this property already had its soft-story retrofit completed back in 2019. The building is on a corner lot and has secured parking for its tenants, large units, a sparkling swimming pool and on-site laundry facility. The unit mix is comprised of sixteen 1-bedroom/1-bathroom units, three 2-bedroom/2-bathroom units, and nine 2-bedroom/ 1½-bathroom townhouse-style units totaling approximately 28,821 rentable square feet on approximately 29,815 square feet of land zoned LAR3. The lot is within an opportunity zone and has a TOC Tier 3 bonus.
Situated in a very densely populated rental pocket of Canoga Park, this corner lot is at the intersection of Roscoe Boulevard and Owensmouth Avenue, just down the street from Lanark Park, and very close to plenty of stores and businesses along Roscoe Boulevard and Topanga Canyon Boulevard. With a good corner lot in a densely populated rental area, large units with a great unit mix, and fantastic upside potential, this asset will be a great addition to a seasoned investor’s portfolio.
PROPERTY INFORMATION
28 units built in 1962
Densely populated pocket in Canoga Park
Completed soft-story retrofit in 2019
Huge corner lot with secured entrance and parking for tenants
Large units with great unit mix
Separately metered for gas and electricity
14 units have central air conditioning. Majority of wall unit A/Cs have been replaced
Sparkling swimming pool
All toilets have been replaced with new low flush toilets
Patrial copper plumbing
All exterior lights upgraded to LED
Majority of windows are new
Huge value-add potential (50%+ upside)
Located in an opportunity zone - LAR3 with TOC Tier 3 Bonus
Onsite laundry facility with 4 washers and 4 dryers owned by landlord
Walking distance to Lanark Park
Minutes from Westfield Mall & The Village
Near Warner Center and other major attractions