$5,000,000
$5,150,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
61 Beds
40 Baths
23,413 SqFt
SOLD DATE : 05/08/2025
Key Details
Sold Price $5,000,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 23,413 sqft
Price per Sqft $213
MLS Listing ID 25-484897
Sold Date 05/08/25
Bedrooms 61
Year Built 1962
Lot Size 0.629 Acres
Acres 0.6297
Property Sub-Type Multi-Family
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 Canoga Park
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall/Window, Window Unit(s)
Equipment Refrigerator, Range/Oven
Laundry Room
Exterior
Parking Features Gated
Garage Spaces 25.0
Pool None
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with David Ballin Kaufman
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "