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Multifamily

Sonata Apartment Homes

21350 Parthenia St, Los Angeles, CA 91304

Listing Price: $8,000,000

Cap Rate
4.63%
Number of Units
24
Price/Unit
$333,333
Price/Gross SF
$383.66
Gross SF
20,852

Investment Overview

Marcus & Millichap is pleased to present the Sonata Apartment Homes, a well maintained twenty-four (24) unit apartment building located at 21350 Parthenia Street in Canoga Park, CA. Built in 1988, the property is not subject to LA City Rent Control (only subject to California State Rent Control). The building is made up entirely of 2 bed/2 bath units. Units feature central heat/air-conditioning and private balconies (select units). The building features covered parking, interior courtyard, secure gated access and an on-site laundry facility. The 20,852 square foot building sits on a 16,545 square foot lot that is LAR3 zoned. Centrally located in the Western San Fernando Valley, the Sonata Apartment Homes provides residents with excellent accessibility to employment, area amenities, and transportation options. The property is only 3.5 miles north of Warner Center, a major employment center with 10 million square feet of office and industrial space. Major employers in the area include Aerojet/Rocketdyne, Northrop Grumman, Boeing, HealthNet, 21st Century Insurance, Medtronic, Deloitte, Panavision, Farmers Insurance, Anthem, Universal Music Group, and many more. In addition, the Sonata Apartment Homes is walking distance to the Metro Orange Line Nordhoff Station and is in close proximity to the 101 and 118 freeways. The accessibility of the surrounding area has resulted in rental options, such as the Sonata Apartment Homes, becoming an increasingly attractive living option and has continued to fuel rent growth.

Investment Highlights

  • Well maintained 24-unit apartment building in the Canoga Park, CA
  • Built in 1988: not subject to LA City Rent Control (only subject to California State Rent Control)
  • Excellent unit mix consisting of all 2 bed/2 bath units
  • Units feature central heat/air-conditioning and private balconies (select units)
  • Building features covered parking, interior courtyard, secure gated access and an on-site laundry facility
  • Excellent accessibility to employment, area amenities, and transportation options – located only 3.5 miles north of Warner Center
  • Conveniently positioned near the 101 and 118 freeways and walking distance to Metro Orange Line Nordhoff Station

Exclusively Listed By

Financing By

Multifamily

Sonata Apartment Homes

Listing Price: $8,000,000

Cap Rate
4.63%
Number of Units
24
Price/Unit
$333,333
Price/Gross SF
$383.66
Gross SF
20,852

Investment Highlights

  • Well maintained 24-unit apartment building in the Canoga Park, CA
  • Built in 1988: not subject to LA City Rent Control (only subject to California State Rent Control)
  • Excellent unit mix consisting of all 2 bed/2 bath units
  • Units feature central heat/air-conditioning and private balconies (select units)
  • Building features covered parking, interior courtyard, secure gated access and an on-site laundry facility
  • Excellent accessibility to employment, area amenities, and transportation options – located only 3.5 miles north of Warner Center
  • Conveniently positioned near the 101 and 118 freeways and walking distance to Metro Orange Line Nordhoff Station

Investment Overview

Marcus & Millichap is pleased to present the Sonata Apartment Homes, a well maintained twenty-four (24) unit apartment building located at 21350 Parthenia Street in Canoga Park, CA. Built in 1988, the property is not subject to LA City Rent Control (only subject to California State Rent Control). The building is made up entirely of 2 bed/2 bath units. Units feature central heat/air-conditioning and private balconies (select units). The building features covered parking, interior courtyard, secure gated access and an on-site laundry facility. The 20,852 square foot building sits on a 16,545 square foot lot that is LAR3 zoned. Centrally located in the Western San Fernando Valley, the Sonata Apartment Homes provides residents with excellent accessibility to employment, area amenities, and transportation options. The property is only 3.5 miles north of Warner Center, a major employment center with 10 million square feet of office and industrial space. Major employers in the area include Aerojet/Rocketdyne, Northrop Grumman, Boeing, HealthNet, 21st Century Insurance, Medtronic, Deloitte, Panavision, Farmers Insurance, Anthem, Universal Music Group, and many more. In addition, the Sonata Apartment Homes is walking distance to the Metro Orange Line Nordhoff Station and is in close proximity to the 101 and 118 freeways. The accessibility of the surrounding area has resulted in rental options, such as the Sonata Apartment Homes, becoming an increasingly attractive living option and has continued to fuel rent growth.

Exclusively Listed By

Financing By

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