10-Unit Apartment
New
For Sale
$1,575,000
7305 Variel Ave, Canoga Park, CA 91303
Two stories of apartments include a mix of studios and one-bedroom homes, with parking for residents.
Property Size6,942 SF
Lot Size0.20 Acres
Price / SF$226.88
Days on Market4
Property Features for 7305 Variel Ave
General Information
Standard status
Active
Size
6,942 SF
Total Parking Spaces
10
Lot size
0.20 Acres
Property subtype
Multifamily
Zoning
R3-1
Occupancy
100%
Financials
Cap Rate
6%
Gross Income
$170,004
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 1BR/1BA, 2 x studio
Multifamily Units
10
Amenities
23% Rental Upside on Turnover.
Annual scheduled rent of $170,004 grows to approximately $208,320 at pro forma rents of $1,795 per one-bedroom and $1,500 per studio, offering $38,316 in potential additional annual income.
Tier 7 Section 8 Payment Standards. ZIP 91303 is a Tier 7 area under HACLA's Section 8 payment standards effective September 1, 2026, allowing up to $2,110 for studios and$2,370 for one-bedroom units.
100% Occupied with Established Cash Flow. All ten units are occupied, providing immediate in-place income with future rental upside as units turn.
Desirable Unit Mix. Eight one-bedroom/one-bathroom units and two studios, totaling 6,942 gross square feet in a two-story building.
Renovated Unit Interiors. Select residences feature white shaker cabinetry, quartz countertops, gas ranges, plank ?ooring, ceiling fans, and recessed lighting.
Tenant-Paid Gas and Electric. Tenants pay for their own gas and electric.
Prominent R3-1 Corner Lot. An 8,552-square-foot parcel at Variel Avenue and Wyandotte Street, with ten parking spaces and convenient access to Sherman Way. Documented System Improvements. Permitted wall furnace replacements in seven units in 2008 and earthquake gas shutoff valves installed in 2006. Convenient West Valley Location. Approximately 0.3 miles from the Metro G Line (Orange) Sherman Way Station at Sherman Way and Canoga Avenue and 1.1 miles from West?eld Topanga, with proximity to Warn
Building Details
Building Size
6,942 SF
Year Built
1958
Stories
2
Units
10
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Glen Scher · License #License(s): CA: 01962976
(818) 212-2808
Source:
Marcusmillichap
Added: Oct 4
Last Checked: Oct 5 at 3:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
This 10-unit apartment property occupies a corner parcel in Canoga Park. The two-story building, constructed in 1958, contains eight one-bedroom, one-bathroom apartments and two studios across 6,942 square feet. The 8,552-square-foot lot includes 10 parking spaces. Select apartments have updated kitchens and finishes, including shaker-style cabinetry, quartz counters, gas ranges, plank flooring, and recessed lighting. The property is subject to the City of Los Angeles Rent Stabilization Ordinance, and tenants pay their own gas and electric costs.
Variel Avenue and Wyandotte Street meet at the property. Sherman Way is one block away, and the Metro G Line Sherman Way Station is approximately 0.3 miles from the building. Westfield Topanga is 1.1 miles away; Warner Center, Pierce College, and Kaiser Permanente Woodland Hills Medical Center are also identified nearby. The property is fully occupied, with all 10 apartments leased.
Variel Avenue and Wyandotte Street meet at the property. Sherman Way is one block away, and the Metro G Line Sherman Way Station is approximately 0.3 miles from the building. Westfield Topanga is 1.1 miles away; Warner Center, Pierce College, and Kaiser Permanente Woodland Hills Medical Center are also identified nearby. The property is fully occupied, with all 10 apartments leased.
Key Highlights
- 10 apartments: eight one‑bedroom/one‑bathroom units and two studios
- 6,942 square feet in a two‑story building constructed in 1958
- 8,552‑square‑foot corner lot with 10 parking spaces
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,509
Businesses Nearby
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Business Placement
Demographics for 91303, CA
28,457
Population
11,073
Households
2.6
Avg Household Size
34
Median Age
25%
College-Educated
77%
High-School Grad
2.1 sq mi
ZIP Area
13,551
Density / Sq Mi
$76,051
Median Household Income
$35,649
Median Earnings
$1,983
Median Rent
$645,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two stories of apartments include a mix of studios and one-bedroom homes, with parking for residents.
Where is this apartment building located?
The property is located at 7305 Variel Ave Canoga Park, CA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 10 apartments: eight one‑bedroom/one‑bathroom units and two studios; 6,942 square feet in a two‑story building constructed in 1958; 8,552‑square‑foot corner lot with 10 parking spaces
