CA > Canoga Park
Canoga Park, CA 91303,7550 Jordan AVE
Canoga Park, CA 91303,7550 Jordan AVE
Canoga Park, CA 91303,7550 Jordan AVE
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$6,975,000
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0.5 Acres Lot
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7550 Jordan AVE Canoga Park, CA 91303

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Jenny Wu

Jenny Wu

+1(909) 569-8888

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25507681

HOA Y/N No

Year Built 1985

Lot Size 0.502 Acres

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 grocery stores, restaurants and retail on Topanga Canyon Boulevard and approximately 2 miles from the Westfield Topanga Mall and Warner Center. The property is conveniently located 1 mile from the Sherman Way Metro Orange Bus Line Station which provides a convenient connection to the North Hollywood Metro Red Line Station for easy rail access to Hollywood, Koreatown, Downtown LA and beyond. The property is also close to the 101 freeway for commuters heading to job centers such as Calabasas, Sherman Oaks, Encino, Burbank and Glendale.

Location

State CA

County Los Angeles

Area Cp - Canoga Park

Zoning LAR3

Interior

Fireplace No

Exterior

Total Parking Spaces 26

Others

Tax ID 2111003025

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Daniel Withers • Matthews Real Estate Investment Services

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agent

Jenny Wu

Agent | License ID: 01817291

+1(909) 569-8888

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7550 Jordan AVE

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