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7237 Variel AVE Canoga Park, CA 91303
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Key Details
Sold Price $5,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 23,413 sqft
Price per Sqft $213
MLS Listing ID 25484897
Bedrooms 61
Year Built 1962
Lot Size 0.629 Acres
Property Description
Variel Towers, a 25-unit apartment building, is comprised of four (4) 1 bedroom + 1 bath units, six (6) 2 bedroom + 1 bath units, ten (10) 2 bedroom + 2 bath units, five (5) 3 bedroom + 2 bath units. This hidden gem offers a quiet, landscaped central courtyard, private balconies/patios and spacious floorplans, and most units feature wood flooring and ceiling fans. Less than one mile from Warner Center, Westfield Topanga, and the Village, Variel Towers has a prime south San Fernando Valley location. The building is also proximate to Woodland Hills, Calabasas, Pierce College, Ventura Blvd, and the 101 Freeway, with various public transportation options nearby, as well. Variel Towers is fully gated and secure, with 23 car covered parking in rear. The building has a laundry room on-site and is separately metered for gas and electric. Rents are currently below market, with excellent +40% upside. The current Cap Rate is 6.00% and current GRM is 9.74.
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Laundry Room
Exterior
Parking Features Gated
Pool None
Community Features Gated
Building
Story 2
New Construction No
Others
Special Listing Condition Standard
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Bought with David Kaufman • David Ballin Kaufman