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This spacious 8-unit garden style apartment building, situated on a sprawling 19,000 sq ft lot, presents a compelling investment opportunity. The property boasts a secure, gated environment and offers a mix of recently remodeled and classic units, ensuring broad appeal to potential tenants.Key Features:Remodeled Units: 6 of the 8 units have been thoughtfully modernized with new windows, kitchens, bathrooms, separate laundry connections, flooring, and fresh paint.Strong Income: The property currently generates an annual income of $161,088, demonstrating its income-generating potential.Prime Location: Conveniently located near LAX, popular beach communities, major freeways (105 and 110), and SoFi Stadium, the property enjoys high visibility and accessibility.Ample Parking: Residents will appreciate the abundance of parking options, with 8 garage spaces and 7 outdoor spaces available.Expansion Potential: The property is currently in the process of obtaining entitlement for 1 ADU, offering the opportunity to increase rental income and property value.Why This is a Great Investment:This property combines a desirable location with strong existing income and potential for future growth. The remodeled units are likely to attract quality tenants and command higher rents, while the ADU entitlement offers a clear path to increasing the property's overall value. The large lot size also provides flexibility for future development or expansion, further enhancing its investment appeal. With its prime location, attractive features, and income potential, this 8-unit garden style apartment building is an excellent investment opportunity for those seeking both immediate returns and long-term value.
Property Type(s):
Residential Income
| Last Updated | 10/14/2024 | Year Built | 1953 |
|---|---|---|---|
| Community | Metropolitan Southwest | Garage Spaces | 8.0 |
| County | Los Angeles |
Additional Details
| AIR | Ductless |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Metropolitan Southwest |
| GARAGE | Garage, Yes |
| HEAT | Ductless |
| LOT | 0.44 acre(s) |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| PARKING | Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Bungalow |
| WATER | Public |
| ZONING | LCR2* |
Location
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Listed with Prospect Group Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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