9208 Applegate Ter

Description

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 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.

Listing information courtesy of: Lori Dekermenjian, JohnHart Real Estate *Based on information from the Association of REALTORS/Multiple Listing as of 04/27/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.