$1,975,000
$2,100,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
452 Chatsworth Dr. San Fernando, CA 91340
0.28 Acres Lot
Key Details
Sold Price $1,975,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRSR23144814
Sold Date 11/14/23
Originating Board California Regional MLS
Year Built 1990
Lot Size 0.283 Acres
Property Description
We are proud to present a rare investment opportunity to acquire The Collection, located in the highly coveted city of San Fernando. The Collection is an adjacent two-parcel corner lot property located at 452 and 470 Chatsworth Drive wrapping around the corner down Coronel Street to include an SFR located at 750 Coronel for a total of 5 spacious units comprised of 4 (3+2.5) townhomes and 1 (3+2) single family residence. This unique value-added investment represents an attractive price per square foot, rental upside potential, and best in place Cap Rate currently offered for sale in the City of San Fernando at 5.51% and a pro-forma Cap Rate of 6.99%! In addition, all units are currently eligible for annual rental increases at a maximum of 8.8% under AB 1482. This allows for an investor to capitalize on a great year one cash on cash return after implementing rent increase and drive the Cap Rate up to just under 6% without the need for any major capital investment or expense. The 452 Chatsworth Drive address and APN includes a townhome style duplex + single-family residence located at 750 Coronel Street! 470 Chatsworth Drive is a near identical duplex to 452 Chatsworth Dr. The properties feature Spanish inspired architecture, attached two-car garages with additional driveway
Location
State CA
County Los Angeles
Area Sf - San Fernando
Exterior
Garage Spaces 10.0
Pool None
Building
Water District - Public
Others
Tax ID 2522021030
Special Listing Condition Not Applicable
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Bought with Raymond Rodriguez • Keller Williams Realty Calabasas