Exciting investment opportunity awaits in the charming Lake Manor neighborhood of Chatsworth! Welcome to 9208 & 9210 Applegate Terrace - This property offers two townhouse-style units, each featuring 2 bedrooms, 1 bath, in-unit laundry room, and central A/C – sought-after amenities for tenants. Adding to its appeal, a spacious carport provides two covered parking spaces per unit. One of the property's standout features is its expansive deck, offering breathtaking views of the valley and mountains. New Roof, New HVAC (in 9208) and New stairs in 2020. Currently occupied by long-term tenants this property offers stable income. At present, rental rates are well below market value, presenting a significant 55% upside potential. With some cosmetic improvements, a savvy investor can unlock higher rental income, maximizing returns on investment and achieving a potential 6.23% CAP rate. Nestled in the friendly Lake Manor community, this property offers a serene escape from city life while remaining conveniently close to valley amenities. A local market, yoga studio, parks, and hiking trails are just a stone's throw away, providing residents with a peaceful yet active lifestyle surrounded by nature. Plus, it's only a short drive to premier shopping and dining destinations in Woodland Hills, Calabasas, and Porter Ranch. With its promising potential for growth, this property represents a prime value-add opportunity. PLEASE DO NOT DISTURB OCCUPANTS.
Property Type :
Residential Income
Subdivision :
Fallbrook
County :
Los Angeles
Style :
Residential Income
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| Unit No |
Unit Key |
Total Bath |
Total Bed |
Full Bath |
Half Bath |
| 1 |
1067187577 |
1 |
2 |
1 |
0 |
| 2 |
1067187577 |
1 |
2 |
1 |
0 |
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ByOwner last updated this listing 05/05/2024 @ 14:56
MLS: SR24069242
LISTED BY: Lori Dekermenjian, JohnHart Real Estate
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
