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7028 ALABAMA AVE Canoga Park, CA 91303
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Key Details
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 18389750
Sold Date 12/28/18
HOA Y/N No
Year Built 1977
Lot Size 7,501 Sqft
Property Description
* One Mile From The New Multi-Billion Dollar Downtown San Fernando Valley at Warner Center* Low Cost/Unit of $205,000* Potential: 6.07 % Cap rate & 6.25% Cash on Cash* 6.9% Effective Annualized Rent Increase within a 3 mile radius (REIS)* Transit Priority Area/T.O.C. Tier-2*7028 Alabama Avenue is a Well-Positioned Opportunity to take Advantage of the New Downtown San Fernando Valley at Warner Center. The Warner Center is currently undergoing a Multi-Billion Dollar Makeover as it turns itself into the Downtown of the San Fernando Valley. 7028 Alabama, being less than a mile from the Warner Center, allows Forward Thinking Investors the Opportunity to Purchase an Undervalued Asset. It has been proven that new developments change neighborhoods. With this burgeoning expansion and Multi-Billion Dollar Capital infusion to the Warner Center Downtown Makeover we expect to see outstanding growth in communities surrounding the Warner Center.
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Interior
Fireplace No
Laundry See Remarks
Exterior
Parking Features Underground
Building
Story 1
Others
Tax ID 2138013007
Special Listing Condition Standard
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Bought with Kelly Morgan • Keller Williams-Santa Monica