10200 De Soto Ave Chatsworth, CA 91311-3201

Property Details for 10200 De Soto Ave

Year built

1963

Construction

WOOD

Lot size

1.69 lot acres

Property size

85,705 SF

Zone code

LAR3

Property type

Apartment buildings

APN

2741-001-020

APU

2741001020

Description

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%.

Location Insight

City

Chatsworth

County

Los Angeles

State

California

Longitude

-118.588

Latitude

34.2557

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments