Skip To Content

20918 Gresham St

Canoga Park, CA 91304
  • $19,250,000
  • STATUS: Active
  • ON SITE: 62 Days
  • MLS #: 22-138482
UPDATED: 50 min ago
$19,250,000
  • 90
    BEDS
  • 0.94
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 47,821
    SQFT
  • $403
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2003
County:
Area:

School Ratings & Info

Description

We are pleased to present the Terra Apartments, a forty-nine unit apartment building in the Canoga Park submarket of the San Fernando Valley bordering Chatsworth and Northridge. Built in 2003, the building has an excellent unit mix consisting of 12 one-bedroom/one-bathroom units, 2 two-bedroom/one-bathroom units, 31 two-bedroom/two-bathroom units and 4 three-bedroom/two-bathroom units. The community amenity package includes a swimming pool, fitness center, picnic area with barbecue, on-site laundry room, gated parking, storage area and controlled access. The units feature expansive floor plans, central air and heat, refrigerator, gas range stove, garbage disposal and dishwasher. This building allows an incoming investor to continue to execute on the established renovation plan to update the remaining outdated units and capitalize on the spread between current and market rental rates.Centrally located in the Western San Fernando Valley, the Terra Apartments provide 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 Terra Apartments location are 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 Terra Apartments, becoming an increasingly attractive living option and has continued to fuel rent growth.

Monthly Payment Calculator



Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T18:43:30.103. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/126927807
Print Image

20918 Gresham St Canoga Park, CA 91304

  • Price: $19,250,000
  • Status: Active
  • On Site: 62 Days
  • Updated: 50 min ago
  • MLS #: 22-138482
90
Beds
0
Baths
0
½ Baths
0.94
Acres
47,821
SQFT
$403
$/SQFT
2003
Built
Neighborhood:
Canoga Park
County:
Los Angeles
Area:
Canoga Park
Property Description
We are pleased to present the Terra Apartments, a forty-nine unit apartment building in the Canoga Park submarket of the San Fernando Valley bordering Chatsworth and Northridge. Built in 2003, the building has an excellent unit mix consisting of 12 one-bedroom/one-bathroom units, 2 two-bedroom/one-bathroom units, 31 two-bedroom/two-bathroom units and 4 three-bedroom/two-bathroom units. The community amenity package includes a swimming pool, fitness center, picnic area with barbecue, on-site laundry room, gated parking, storage area and controlled access. The units feature expansive floor plans, central air and heat, refrigerator, gas range stove, garbage disposal and dishwasher. This building allows an incoming investor to continue to execute on the established renovation plan to update the remaining outdated units and capitalize on the spread between current and market rental rates.Centrally located in the Western San Fernando Valley, the Terra Apartments provide 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 Terra Apartments location are 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 Terra Apartments, becoming an increasingly attractive living option and has continued to fuel rent growth.
Exterior Features

Lot Size Area 41002 Other Structures None Parking Garage Covered Parking Total Parking 92

Interior Features

Baths Total 86.00 Cooling Central Equipment None Heating Central

Property Features

Assessed Total Value 17580264 Gross Income 1332496 Gross Operating Income 1295399 Like Units1 12 Like Units2 2 Like Units3 31 Like Units4 4 Net Operating Income 811840.00 Number Of Buildings 1 Number Of Units 49 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Assessor Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 483559 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Matthew Ziegler DRE# of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T18:43:30.103. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-138482-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-138482-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-138482-2.jpg
Logo
Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270