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7305 Variel Avenue

Canoga Park, CA 91303
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Bed 8

Bed

Bath 10

Bath

SqFt6,942

Sqft

SqFt8,555

Sqft(Lot)

We are pleased to present 7305 Variel Avenue, a ten-unit apartment property situated on the northwest corner of Variel Avenue and Wyandotte Street in Canoga Park. Built in 1958, the two-story building features eight one-bedroom/one-bathroom units and two studios, totaling 6,942 square feet on an 8,552-square-foot R3-1 corner lot. The property is subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and provides ten parking spaces.The investment opportunity is centered on established in-place income and demonstrated rental upside. According to ownership's August 19, 2026 rent roll, the property is fully occupied and generates $170,004 in annual scheduled rent. Three leases executed in 2026, including a studio at $1,395 and two one-bedroom units at $1,595 and $1,695, establis h recent leasing benchmarks, and unit 3 is leased at $1,795. At the LAAA Team's pro forma rents of $1,795 for the one-bedroom units and $1,500 for the studios, the property produces approximately $208,320 in potential annual rental income, representing 23% upside as units turn, subject to applicable RSO requirements.Select renovated residences feature white shaker cabinetry, quartz countertops, gas ranges, plank flooring, and recessed lighting. Tenants pay for their own gas and electric. The property is located in ZIP 91303, a Tier 7 area under the Housing Authority of the City of Los Angeles (HACLA) Section 8 payment standards effective September 1, 2026, which allow up to $2,110 for a studio and $2,370 for a one-bedroom unit. The combination of recent leasing activity and existing occupancy positions the property for investors seeking current cash flow with the potential to increase income through future turnover.7305 Variel Avenue offers private investors, 1031 exchange buyers, and owner-operators an opportunity to acquire a fully occupied ten-unit property in an established West Valley rental market, with existing income, documented rental upside, and proximity to the Warner Center corridor.The property is located one block north of Sherman Way, providing convenient access to neighborhood retail, dining, and everyday services. Its location places residents near Westfield Topanga, The Village at Westfield Topanga, and the Warner Center employment and retail district. Pierce College, Kaiser Permanente Woodland Hills Medical Center, and the Metro G Line further connect the property to major West San Fernando Valley amenities and transportation infrastructure. The nearest public transit stop is the Metro G Line (Orange) busway's Sherman Way Station at Sherman Way and Canoga Avenue, approximately 0.3 miles away. The address carries a Walk Score of 87, classified as Very Walkable.ZIP 91303 counts 29,805 residents with a median age of 33.5, and 78% of its households rent. The median household income is $74,474 and the median gross rent $2,057. Of the ZIP's 11,405 housing units, 3,963 were built before 1970 and 496 since 2020.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $1,575,000

AD Id : 91615725

MLS Id : 26995611

Beds : 8

Lot Size : 8,555 Sq. Ft

Living Area Size : 6,942 Sq. Ft

Year Built : 1958

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 8

    Bathroom Information

    Total Baths: 10
  • Interior Features

    Appliances: Dishwasher, Microwave, Refrigerator
  • Heating & Cooling

    Has Heating: Yes Heating: WallFurnace

  • Building Information

    Year Built: 1958
    Building Area Total: 6942
    Stories: 2
    Private Pool: No

  • Lot Information

    Lot Dimensions: 50x173 Main Square Feet: 8555 Lot Size Acres: 0.1964 Lot Size Source: Assessor Lot Size Square Feet: 8,555

  • Listing Price Information

    Listing Price: $1575000

  • Tax Information

    Parcel Number: 2112021007

  • Location Information

    Direction: South of Valerio Street and North of Sherman Way on Variel Avenue.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
22241 Wyandotte Street, Canoga Park, CA, 91303 $1,549,000 7 7 -- 7,613 Sq. Ft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 10/09/2026 @ 09:37

MLS: 26995611 LISTED BY: Filip Niculete, Marcus & Millichap 818-212-2700 SOURCE: CRMLS

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