$2,850,000
SOLD SEP 4, 2025
5 Beds
5 Baths
9,883 Sq Ft
0.32 Acres

Recently Sold

$288 Per Sq Ft

3% Below List Price

70 Days on Market

About This Home

As of September 2025

Welcome to 7049 Vassar Ave, a rare investment opportunity located in the highly sought-after neighborhood of Canoga Park in the San Fernando Valley. This well-maintained 17-unit apartment complex offers a desirable unit mix consisting of 8 singles, 5 one-bed/one-bath, 1 two-bed/one-bath, and 3 two-bed/two-bath units. Perfectly positioned in a high-demand rental market, this asset presents a compelling opportunity for investors seeking value-add potential and long-term stability.

The property features individually metered gas and electric, helping reduce owner expenses and improve operational efficiency. Recent capital improvements include copper plumbing throughout the building and completed seismic retrofitting, providing both peace of mind and compliance with city regulations. Additional amenities include on-site parking, on-site laundry, and alley access, enhancing convenience for tenants.

Located just minutes from major shopping and entertainment destinations, residents enjoy proximity to Westfield Topanga Mall, The Village at Topanga, Costco Wholesale, and Home Depot. Commuters will appreciate the property’s easy access to the 101 Freeway and local public transit, while students benefit from the short distance to Pierce College. This strategic location ensures strong tenant demand and low vacancy rates.

With tremendous rental upside potential, 7049 Vassar Ave is a turnkey investment opportunity in one of Los Angeles' most active rental corridors. Whether you're expanding your portfolio or entering the multifamily market, this property offers location, stability, and upside all in one package.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Last Agent to Sell the Property

James Antonucci

Keller Williams Realty-Studio City Brokerage Phone: 818-381-6601 License #01822661 Listed on: 06/03/2025

Keller Williams Realty-Studio City

Co-Listed By

Mike Pesci

Keller Williams Studio City Brokerage Phone: 818-381-6601 License #01274379

Last Buyer's Agent

Dalida Maserejian

American Realty Centre,Inc. License #00897436

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.32 Acre Lot
  • Two or More Common Walls
  • Density is 16-20 Units/Acre

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 9,883 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Location

  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 15 / 77
  • Tax Tract Number 8852
  • Assessor Parcel Number 2138002026
  • $2,108 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 17 Separate Electric Meters
  • 17 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $7,880
  • Fuel Expense $7,880
  • Gardener Expense $1,500
  • Insurance Expense $12,848
  • Maintenance Expense $10,070
  • Other Expense $3,400
  • Pest Control $1,200
  • Professional Management Expense $18,230
  • Trash Expense $6,120
  • Water Sewer Expense $7,880
  • New Taxes Expense $36,875
  • Operating Expense $113,883
  • Gross Income $251,750
  • Net Operating Income $137,867

Additional Features

  • 17 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • CapRate: 4.67
  • Price Per Unit: 173529
  • Professional Management Expense: 18230.00
  • Property Attached: Yes
  • Water Sewer Expenses: 7880.00
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 2138002026
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 288.37

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Pest Control Expense: 1200.00
  • Sewer: Public Sewer
  • Trash Expense: 6120.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 14065.00
  • Lot Size Acres: 0.3229

Multi Family

  • Electric Expense: 7880.00
  • Fuel Expense: 7880.00
  • Gross Income: 251750.00
  • Gross Multiplier: 11.37
  • Gross Operating Income: 251750.00
  • Gross Scheduled Income: 259536.00
  • Insurance Expense: 12848.00
  • Lot Size Area: 14065.0000 Square Feet
  • Maintenance Expense: 10070.00
  • Maintenance Percent: 9.00
  • Net Operating Income: 137867.00
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 17
  • Operating Expense: 113883.00
  • Operating Expense Percent: 43.90
  • Other Expense: 3400.00
  • Other Expense Description: reserves
  • Rent Control: Yes
  • Total Actual Rent: 21628.00
  • Total Expenses: 113883.00
  • Vacancy Allowance: 7786
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 36875.00
  • Tax Block: 77
  • Tax Census Tract: 1345.20
  • Tax Lot: 15
  • Tax Tract Number: 8852
  • TaxOtherAnnualAssessmentAmount: 2108.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/04/2025 09/04/25 Sold $2,850,000 -3.4% $288 / Sq Ft
08/12/2025 08/12/25 Pending -- -- --
06/03/2025 06/03/25 For Sale $2,950,000 -- $298 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR25124036

California Regional Multiple Listing Service (CRMLS)