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8740 Topanga Canyon Boulevard, Canoga Park, CA 91304
$2,950,000
8740 Topanga Canyon Boulevard, Canoga Park, CA 91304View this property at 8740 Topanga Canyon Boulevard, Canoga Park, CA 91304
8740 Topanga Canyon BoulevardCanoga ParkCA91304
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Property Description
Topanga Villa is a well located 15 unit garden-style building with a central courtyard. The building has a great unit mix featuring a majority of two bedroom/two bath units. Units are very large and average over 970 SF. The building is consistently 100% occupied.
This building has tremendous rental upside. Existing rents are 55% below market. Great opportunit for an investor looking for a well located, value-add
property that is in a high rental area in the west valley ( bordering West Hills and Chatsworth).
First time on the market in 29 years. The list price is below replacement cost at only $226.44 per SF and $215,000 per unit. Lowest priced apartment complex in the area. Rents have not been raised in four years. Opportunity to raise rents projecteded at 7.8% February 2024 which will be a 5% cap rate in a few months.!!
Full Property Details
Full Property Details for 8740 Topanga Canyon Blvd
General
- Sold For: $2,950,000
- Status: Closed
- Type: Multi-Family
- MLS ID: SR23146343
- Added to Site: 308 day(s) ago
Interior
- Rooms/Areas: Kitchen, Living Room
- Interior Features: Ceramic Counters, Storage
- Appliances: Dishwasher, Free-Standing Range, Gas Cooktop
- Flooring: Carpet, Tile, Wood
Rooms
Other Rooms
- Laundry: Common Area
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Attached Carport, On-Site
- Parking: Attached Carport, On-Site
Location
- Area: CP - Canoga Park
- County: Los Angeles
- Development Name: CP - Canoga Park
- Driving Directions: East side of Topanga Canyon, just northof Parthenia Street and south of Nordhoff Street
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
- # Gas Meters: 15
- # Electric Meters: 15
Structural Information
- Architectural Style: Traditional
- Foundation: Slab
- Roof: Composition, Flat
- Entry Location: carport or street
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 14,242
- Year Built: 1962
Unit Information
Unit 1
- Number of Units: 5
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 8
- Total Bathrooms: 2
- Bedrooms: 2
Unit 3
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 3
Lot Features
- Lot Size (Acres): 0.3491
- Lot Size Source: Assessor
- Zoning: LAR3
- Lot Description: Gentle Sloping, Sprinklers Timer
Financial Considerations
- Price Per Sq. Ft.: $207.13
- Price Per Unit: 215000
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Katherine Bergh, Katherine Bergh
Sold by None MRML, NONE NONE
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Schools
Schools serving 8740 Topanga Canyon Blvd
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
22120 Chase St, West Hills, CA 91304 | K-5 | 0.5 mi | |
10100 Variel Ave, Chatsworth, CA 91311 | 6-8 | 1.7 mi | |
10027 Lurline Ave, Chatsworth, CA 91311 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 8740 Topanga Canyon Blvd
Date
Details
Price
Change
Source
1/25/2024
Sold
$3,100,000
-3.88%
MLS
9/15/2023
Price Reduced
$3,225,000
-7.86%
MLS
8/07/2023
Listed
$3,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
8740 Topanga Canyon Boulevard, Canoga Park, CA 91304 (MLS# SR23146343) is a Multi-Family property that was sold at $2,950,000 on January 25, 2024. Want to learn more about 8740 Topanga Canyon Boulevard? Do you have questions about finding other Multi-Family real estate for sale in Canoga Park? You can browse all Canoga Park real estate or contact a Coldwell Banker agent to request more information.