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7550 Jordan Avenue Canoga Park (los Angeles), CA 91303
23,994 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 23,994 sqft
Price per Sqft $290
MLS Listing ID CL25507681
HOA Y/N No
Year Built 1985
Lot Size 0.502 Acres
Acres 0.5
Property Sub-Type Comm Ind For Sale
Property Description
Marcus & Millichap/Matthews Real Estate Investment Services is pleased to present the 7550 Jordan Avenue, a 26-unit value add apartment building located at Canoga Park, California. Built in 1985, the property is not subject to LA City Rent Control (subject to California Rent Control under AB 1482 which permits annual rent increases of ~5% + CPI). Current rents are approximately 12% below market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. The property features a favorable unit mix consisting of (10) one-bedroom/one-bathroom units and (16) two-bedroom/two-bathroom units. Units feature central heat and air-conditioning, patio or balcony, wood flooring, fireplace, gas range, microwave, refrigerator, marbleized quartz countertops (select units) and subway tile backsplashes and tubs (select units). Property amenities include secured access, covered garage parking, elevator, laundry facility and storage space. The 23,994 square foot building sits on a large 0.5 acre lot that is LAR3 zoned. 7550 Jordan Avenue is located in Canoga Park, long considered one of the strongest rental submarkets in the San Fernando Valley with historically low vacancy rates. The property boasts a Walk Score of 83 as it is walking distance to g
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Exterior
Total Parking Spaces 26
Building
New Construction No
Others
Tax ID 2111003025
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Listed by Daniel Withers • Matthews Real Estate Investment Services