Constructed in 1962, the two-story building features an attractive unit mix containing mostly two-bedroom units. Current rents sit well below local market rates, allowing a new owner the potential to capitalize on approximately 54% in rent upside. Properties in the Tarzana submarket rarely become available, as only seven such buildings have sold within the past three years, according to CoStar COMPS. Given the recent and continuing development boom in neighboring Warner Center and Woodland Hills, this asset would allow an investor to take advantage of those new and upcoming amenities, albeit at a lower price point. Over the past three years, the average sales price per unit in Woodland Hills has been over $430,000 per unit, whereas Tarzana sales have averaged only $259,207 per unit. CAP Rates in Tarzana have also been approximately 51 basis points higher than in Woodland Hills, allowing Tarzana owners to earn greater returns on their investments despite the immediate proximity of the two neighboring cities. Situated near the intersection of Oxnard Street and Reseda Boulevard, the property allows residents convenient access to the new Topanga Village shopping center as well as the recently opened Topanga Social premium food hall. Adjacent to the upcoming Los Angeles Rams practice facility at 21555 Oxnard Street, team owner Stan Kroenke holds land entitled for a potential 35-acre mixed-use development. Proposals for the site show 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units. The $1 billion project would provide a significant amenities boost to the already thriving neighborhood, all of which benefits investors in the immediate area.
WELCOME TO THIS SMART, 2 STORY NEW CONSTRUCTION (MAIN HOUSE + ADU) HOME LOCATED SOUTH OF THE BLVD. IN THE CITY OF TARZANA. AS YOU STEP INSIDE THE MAIN HOUSE WITH 4 BEDROOMS AND 3.5 BATHROOMS, YOU’LL BE GREETED BY AN OPEN SPACE FLOOR PLAN TO THE LIVING ROOM, DINING ROOM AND KITCHEN AREA WITH BRIGHT RECESSED LED LIGHTS, A 10 FEET HIGH CEILING AND BI-FOLD PATIO DOOR TO THE BACK YARD. THE BEAUTIFUL AND MODERN KITCHEN HAS ITALIAN MADE CABINETS, BOSCH APPLIANCES AND A LARGE QUARTZ STONE CENTER ISLAND COUNTERTOP WITH A SEPARATE SINK. ALSO, THE ADU HAS 1 BEDROOM AND 1 BATH. THIS HOUSE CREATES THE BEST AMENITIES AND ENTERTAINMENT FOR ANY FAMILY WITH SMART POOL WITH WATERFALL, SPA WITH DECK JETS, ELECTRIC SMART GATES, SECURITY CAMERA SYSTEM AND 2 DIRECT GARAGE SPACES WITH ELECTRIC READY CHARGER ROUGH OUTLETS. THE MASTER BEDROOM HAS AN OVERSIZED BALCONY WITH A VIEW OVERLOOKING YOUR SPARKLING SMART POOL & SPA. THE LAUNDRY ROOM IS ON THE SECOND FLOOR FOR EASY ACCESS AND USE. THE ADU ADDS ADDITIONAL VALUE TO THIS MAGNIFICENT HOME WITH ONE BEDROOM, ONE BATH, STACKABLE LAUNDRY, WITH THE SEPARATE ADDRESS AND UTILITY METERS. THIS ONE-OF- A KIND UNIQUE HOME HAS IT ALL, WITHIN WALKING DISTANCE TO SEVERAL WORSHIP HOUSES. (ERUV AREA), VENTURA BLVD., RESTAURANTS, FREEWAY AND VILLAGE WALK. THE HOUSE IS FOR RENT TOO , MAIN HOUSE AND ADU TOGETHER $11,000 .MAIN HOUSE SEPERATLY $ 8,300 AND ADU SEPERATLY $ 2,700 IS ANOTHER OPTION.
Tarzana is located in California.
