Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7028 Alabama Ave Woodland Hills, CA 91303

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,745,000

    Ten-unit multifamily property near Warner Center with redevelopment potential.

    Lot size:
    0.17 Acres

    Property Features for 7028 Alabama Ave

    General Information

    Lot size
    0.17 Acres

    Building Details

    Year built
    1977

    We can help!

    Listing Contact
    Todd Schwartz
    Source: Elliman

    Listing Agent: Todd Schwartz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multifamily Property Near Warner Center

    The Alabama property features ten one-bedroom, one-bath multifamily units constructed in 1977. Located adjacent to Warner Center, it is situated 2.5 blocks north of Vanowen and west of Canoga, in an area with substantial redevelopment. The property includes 12 sub-terranean parking spaces. A front owner's-type unit includes a fireplace. The location has a Walk Score of 82, allowing walking access to Westfield Regional Mall, and a Bike Score of 91, rated as a Biker's Paradise. Each unit is individually metered for gas and electric. Additional features include alley access, a laundry room, and a storage room. There is an estimated 10.5% potential upside in rents.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woodland Hills
    County
    Los Angeles
    State
    California
    Longitude
    -118.59888
    Latitude
    34.19818

    Nearby Similar for Sale

    • New
      $1,179,000
      2,234 SF

      Renovated Home with ADU Potential

      Spacious, renovated 4-bedroom home with ADU potential in West Hills.
      8225 Fallbrook Ave, Woodland Hills, CA 91304
      View Details
    • $1,199,999
      2,673 SF

      Woodland Hills Townhouse-Style Duplex

      Well-maintained duplex in Woodland Hills near freeways and shopping.
      22002 Ybarra Rd, Woodland Hills, CA 91364
      View Details
    • $1,199,999
      2,673 SF

      Well-Maintained Duplex in Woodland Hills

      Two-story duplex with modern amenities near freeways and shopping.
      22002 Ybarra Rd, Woodland Hills, CA 91364
      View Details
    • $639,990
      1,050 SF

      Modern Warner Center Apartment

      Luxurious 2-bedroom apartment with resort-style amenities and convenient location.
      21301 Erwin St, Woodland Hills, CA 91367
      View Details
    • $529,500
      1,340 SF

      Remodeled Winnetka Townhome with Amenities

      Stylish 3-bedroom townhome with updated features and community amenities.
      20158 Cohasset St, Winnetka, CA 91306
      View Details
    • $555,000

      Renovated Townhome in Winnetka

      End-unit, renovated townhome with modern amenities and convenient location.
      20807 Roscoe Blvd, Winnetka, CA 91306
      View Details
    • $578,900

      Updated Townhome in Gated Community

      Winnetka townhome with remodeled kitchen, bathrooms, and new HVAC.
      20122 Cohasset St, Winnetka, CA 91306
      View Details
    • $3,495,000
      11,957 SF

      Multifamily Asset in Woodland Hills

      15-unit multifamily property in prime Woodland Hills location.
      Woodland Hills Rigoletto St, Woodland Hills, CA 91364
      View Details
    • $300,000

      Renovated Condo in Winnetka

      Updated 1-bed, 1-bath condo with modern amenities and convenient location.
      7640 Oso Ave, Winnetka, CA 91306
      View Details
    • $539,000

      Winnetka Townhome-Style Residence

      Well-maintained townhome with open floor plan, near amenities.
      20139 Leadwell St, Winnetka, CA 91306
      View Details
    • $1,995,000
      3,462 SF

      Remodeled Office Building in Woodland Hills

      Remodeled professional office building with prime location and ample parking.
      19825 Ventura Blvd, Woodland Hills, CA 91364
      View Details
    • $2,100,000

      Winnetka Commercial Property with Cell Tower

      Three commercial units with cell tower income in Winnetka.
      19740 Sherman Way, Winnetka, CA 91306
      View Details

    FAQs

    What type of property is this?
    Apartment building - Ten-unit multifamily property near Warner Center with redevelopment potential.
    Where is this apartment building located?
    The property is located at 7028 Alabama Ave Woodland Hills, CA.
    What is the asking price?
    The asking price for this property is $1,745,000.
    What are key features of this property?
    This property features: - High Walk Score (82) - Walk to Westfield Regional Mall; - Significant Rental Upside (Approximately 10.5%); - Excellent Bike Score (91) - Biker's Paradise
    (818) 825-5100
    Request Owner's contact information
    7028 Alabama Ave Woodland Hills, CA 91303
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7028 Alabama Ave
    Woodland Hills, CA 91303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7028 Alabama Ave Woodland Hills, CA 91303
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Todd Schwartz
    (818) 825-5100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.