20918 GRESHAM ST

CANOGA PARK, CA, 91304

$18,750,000

$392 per ft²
$18,750,000
$392 per ft²
Active
Active
 - For Sale
beds
90 Beds
baths
86 Baths
carpenters-square
47,821 ft²
property_type
Multi-family
calendar
Built 2003
We are pleased to present the Terra Apartments, a forty-nine unit apartment building in the Canoga Park submarket of the San Fernando Valley bordering Chatsworth and Northridge. Built in 2003, the building has an excellent unit mix consisting of 12 one-bedroom/one-bathroom units, 2 two-bedroom/one-bathroom units, 31 two-bedroom/two-bathroom units and 4 three-bedroom/two-bathroom units. The community amenity package includes a swimming pool, fitness center, picnic area with barbecue, on-site laundry room, gated parking, storage area and controlled access. The units feature expansive floor plans, central air and heat, refrigerator, gas range stove, garbage disposal and dishwasher. This building allows an incoming investor to continue to execute on the established renovation plan to update the remaining outdated units and capitalize on the spread between current and market rental rates.Centrally located in the Western San Fernando Valley, the Terra Apartments provide residents with excellent accessibility to employment, area amenities, and transportation options. The property is only 3.5 miles north of Warner Center, a major employment center with 10 million square feet of office and industrial space. Major employers in the area include Aerojet/Rocketdyne, Northrop Grumman, Boeing, HealthNet, 21st Century Insurance, Medtronic, Deloitte, Panavision, Farmers Insurance, Anthem, Universal Music Group, and many more. In addition, the Terra Apartments location are walking distance to the Metro Orange Line Nordhoff Station and is in close proximity to the 101 and 118 freeways. The accessibility of the surrounding area has resulted in rental options, such as the Terra Apartments, becoming an increasingly attractive living option and has continued to fuel rent growth.
MLS® ID:
22-138482
Listed:
3/20/22
Updated:
8/12/22

Interior Features

Total Bedrooms
90
Total Bathrooms
86
Cooling
Central
Heating
Central

Exterior/Building Features

Lot Size
0.94 acres lot

Other Property Details

Garage
No
Parking
Covered Parking
Parking Total
92.0
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LAR3

Property History

Date
Event
Price
Value
6/17/22
Price Change
$18,750,000
-2%
4/18/22
Price Change
$19,250,000
-2%
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