7237 Variel Avenue 7237 Variel Avenue Canoga Park, California 91303 United States

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 Courtesy of David Ballin Kaufman