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Key Details
Sold Price $4,055,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Custom North Castaic (Cncas)
MLS Listing ID CV24153743
Sold Date 01/29/25
HOA Y/N No
Year Built 1981
Lot Size 0.943 Acres
Property Description
PRICED TO SELL! We are pleased to exclusively offer for sale this 22 Unit multi-family residential investment opportunity in the city of Castaic, located just minutes north of the city of Valencia. Boasting a 5.43% Cap Rate and a 10.21 GRM, this property was constructed in the 1980s and offers 18,816 rental square feet on a substantial 41,096 square foot lot. The unit composition includes one 2-Bedroom/1.75-Bathroom unit with an oversized patio, seven additional 2-Bedroom/1.75-Bathroom units, and fourteen 1-Bedroom/1-Bathroom units, each with private balconies/patios, ensuring a desirable outdoor space for each tenant.
Tenant amenities enhance this property's appeal featuring gated private entry with an intercom call system, central A/C & Heat, sparkling swimming pool, communal laundry room, and covered carport parking with a total of 37 off-street parking spaces. The property also benefits from copper plumbing and a newer roof, highlighting its well-maintained condition.
With a 35% upside in market rents, this investment offers significant potential for revenue growth and upside appreciation.
Location
State CA
County Los Angeles
Area Ncas - North Castaic
Zoning LCR3*
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Parking Features Assigned
Carport Spaces 34
Pool Community, In Ground
Community Features Curbs, Gutter(s), Sidewalks, Pool
Total Parking Spaces 37
Private Pool No
Building
Lot Description 21-25 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2865008031
Energy Description 12106.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Jared Levine • Keller Williams Realty Calabasas