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7460 Canby Ave 9 Unit Apartment Building $1,650,000 ($183,333/Unit) 6.15% Cap Rate Reseda, CA 91335
EXECUTIVE SUMMARY
7460 Canby Ave. is an incredible investment property located in the fence rental market of Reseda. Offering 9 units and asking only $1,650,000, this makes it one of the lowest cost of entries of any apartment building. With substantially below market rents and asking 10 times the gross income, this gives a new buyer tremendous upside potential and immediate cash flow to start. The building consist of large units, 4 two bedroom one bath and 5 one bedroom one bath. There are nine parking spaces off street for tenants and plenty of street parking. 7460 Canby Ave is perfect for the first time Buyer or for an experienced owner adding to their portfolio. The building is fully occupied, so please do not disturb the tenants.
PROPERTY FACTS In Escrow
| Price | $1,650,000 | Property Subtype | Apartment |
| Price Per Unit | $183,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.15% | Lot Size | 0.20 AC |
| Sale Condition | 1031 Exchange | Building Size | 7,021 SF |
| Gross Rent Multiplier | 10.25 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Zoning | R3, Los Angeles | ||
| Price | $1,650,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.25 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 7,021 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3, Los Angeles |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 468 |
| 1+1 | 6 | - | 636 |
| 2+1 | 2 | - | 908 |
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Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 2119-016-027 | Improvements Assessment | $877,339 |
| Land Assessment | $375,802 | Total Assessment | $1,253,141 |
PROPERTY TAXES
Parcel Number
2119-016-027
Land Assessment
$375,802
Improvements Assessment
$877,339
Total Assessment
$1,253,141
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7460 Canby Ave
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