10200 De Soto Ave Chatsworth, CA 91311-3201

This 86-unit apartment building in Chatsworth, CA, presents a compelling value-add opportunity. Boasting 85,705 square feet on a 1.69-acre lot, the property features a mix of 56 one-bedroom/one-bathroom units (averaging 780 sq ft) and 30 two-bedroom/two-bathroom units (averaging 1,100 sq ft). Built in 1963, the three-story building is zoned LAR3 and offers significant upside potential due to rents currently approximately 32% below market value. Renovation of units and common areas, along with the potential for ADU development (buyer to verify), promises substantial income growth. Units include porcelain tile countertops, wood-inspired flooring (select units), large closets, balconies/patios, central A/C and heat, full appliance packages, and designer finishes. Amenities include secured access, carport parking, a pool, clubhouse, 24-hour laundry, on-site management, and a 24-hour maintenance call center. The property enjoys a convenient location near freeways (118 and 101), shopping, dining, and the Chatsworth Metrolink Station, providing easy access to Downtown LA and Ventura County. The asking price is $17,950,000, representing $208,721 per unit, with a current NOI of $1,061,421 and a pro-forma NOI of $1,542,990. The property's current cap rate is 5.91%, with a pro-forma cap rate of 8.60%.