Description
We are proud to present a rare investment opportunity to acquire The Collection, located in the highly coveted city of San Fernando. The Collection is an adjacent two-parcel corner lot property located at 452 and 470 Chatsworth Drive wrapping around the corner down Coronel Street to include an SFR located at 750 Coronel for a total of 5 spacious units comprised of 4 (3+2.5) townhomes and 1 (3+2) single family residence.This unique value-added investment represents an attractive price per square foot, +/- 30% rental upside potential, best in place Cap Rate currently offered for sale in the City of San Fernando at 5.18% and a pro-forma Cap Rate of 7.28%! In addition, all units are currently eligible for annual rental increases at a maximum of 10% or 5% + CPI under AB 1482. This allows for an investor to capitalize on a great year one cash on cash return after implementing rent increase and drive the Cap Rate up to just under 6% without the need for any major capital investment or expense.The 452 Chatsworth Drive address and APN includes a townhome style duplex + single-family residence located at 750 Coronel Street! 470 Chatsworth Drive is a near identical duplex to 452 Chatsworth Dr. The properties feature Spanish inspired architecture, attached two-car garages with additional driveway parking, full-size laundry rooms, spacious private yards and patios, central HVAC units, modern finishes, stainless steel appliances and creative bay / alcove space in 2 select units perfect for office, nursery, or den usage. The construction is of a wood frame, flat roof and painted stucco exterior, built in 1990 totaling +/- 5,856 square feet on a +/- 12,322 square foot lot.It is rare for investment properties to trade in the City of San Fernando and this particular asset has not traded hands in over 33 years. The pride of ownership is evident as soon as you pull up to the properties in their curb appeal and how they have been diligently maintained. The units provide separate hot water heaters and are individually metered for gas and electricity, with the owner paying for water and landscaping.All units are due for rental increases which the Seller has left for the new owner to determine. Overall, the City of San Fernando offers a range of opportunities for those interested in real estate, whether as homeowners, investors, or business owners.
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School Ratings & Info
Description
We are proud to present a rare investment opportunity to acquire The Collection, located in the highly coveted city of San Fernando. The Collection is an adjacent two-parcel corner lot property located at 452 and 470 Chatsworth Drive wrapping around the corner down Coronel Street to include an SFR located at 750 Coronel for a total of 5 spacious units comprised of 4 (3+2.5) townhomes and 1 (3+2) single family residence.This unique value-added investment represents an attractive price per square foot, +/- 30% rental upside potential, best in place Cap Rate currently offered for sale in the City of San Fernando at 5.18% and a pro-forma Cap Rate of 7.28%! In addition, all units are currently eligible for annual rental increases at a maximum of 10% or 5% + CPI under AB 1482. This allows for an investor to capitalize on a great year one cash on cash return after implementing rent increase and drive the Cap Rate up to just under 6% without the need for any major capital investment or expense.The 452 Chatsworth Drive address and APN includes a townhome style duplex + single-family residence located at 750 Coronel Street! 470 Chatsworth Drive is a near identical duplex to 452 Chatsworth Dr. The properties feature Spanish inspired architecture, attached two-car garages with additional driveway parking, full-size laundry rooms, spacious private yards and patios, central HVAC units, modern finishes, stainless steel appliances and creative bay / alcove space in 2 select units perfect for office, nursery, or den usage. The construction is of a wood frame, flat roof and painted stucco exterior, built in 1990 totaling +/- 5,856 square feet on a +/- 12,322 square foot lot.It is rare for investment properties to trade in the City of San Fernando and this particular asset has not traded hands in over 33 years. The pride of ownership is evident as soon as you pull up to the properties in their curb appeal and how they have been diligently maintained. The units provide separate hot water heaters and are individually metered for gas and electricity, with the owner paying for water and landscaping.All units are due for rental increases which the Seller has left for the new owner to determine. Overall, the City of San Fernando offers a range of opportunities for those interested in real estate, whether as homeowners, investors, or business owners.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-21T07:41:09.35. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.