7237 Variel Avenue

Canoga Park, CA 91303

$5,150,000

List Price

61

bed Beds

40

shower Baths

18,333 sqft

straighten / sqft

1962

calendar_month Built

Property Description

Variel Towers, a 25-unit apartment building, is comprised of four (4) 1 bedroom + 1 bath units, six (6) 2 bedroom + 1 bath units, ten (10) 2 bedroom + 2 bath units, five (5) 3 bedroom + 2 bath units. This hidden gem offers a quiet, landscaped central courtyard, private balconies/patios and spacious floorplans, and most units feature wood flooring and ceiling fans. Less than one mile from Warner Center, Westfield Topanga, and the Village, Variel Towers has a prime south San Fernando Valley location. The building is also proximate to Woodland Hills, Calabasas, Pierce College, Ventura Blvd, and the 101 Freeway, with various public transportation options nearby, as well. Variel Towers is fully gated and secure, with 23 car covered parking in rear. The building has a laundry room on-site and is separately metered for gas and electric. Rents are currently below market, with excellent +40% upside. The current Cap Rate is 6.00% and current GRM is 9.74.

Listing Information

List Price $5,150,000
Status Active
MLS 25484897
Type Residential Income
Year Built 1962
Lot Size 23,351
Structure Size 18,333
Courtesy Of David Ballin Kaufman
Listing Agent David Kaufman DRE#01217537

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms 61
Total Bathroom
Bathrooms 40
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: David Kaufman, David Ballin Kaufman 818-464-3212. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 17th, 2025 at 7:34 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.