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Craig & Priscilla Albin

team@remaxdiscover.com +1(714) 900-2442

$ 1,299,000

Est. payment | -/mo

3 Beds

2 Baths

1,552 SqFt

Save

$ 1,299,000

Est. payment | -/mo

Save

3 Beds

2 Baths

1,552 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 1,552 sqft

Price per Sqft $836

MLS Listing ID SR26146133

Bedrooms 3

Full Baths 2

HOA Y/N No

Year Built 1950

Lot Size 8,624 Sqft

Property Sub-Type Single Family Residence

Property Description

Exceptional SB9 investment and development opportunity on an approximately 8,623 Sq. Ft. corner lot in Canoga Park. The property is in the final stages of an SB9 Urban Lot Split designed to create two separately deeded parcels, offering immediate rental income and outstanding future development potential. The front parcel, 20957 Community St., will consist of approximately 5,174 Sq. Ft. and features a 2-bedroom, 2-bathroom residence plus a converted 2-car garage configured as a 1-bedroom, 1-bath Junior ADU, completed prior to the current owner's purchase. The main residence is currently leased for $3,200 per month through May 2027. Seller states the Junior ADU has an estimated market rental potential of approximately $1,950 per month, for projected gross rental income of approximately $5,150 per month ($61,800 annually). Buyer to verify lease terms, rental income, and market rents. The future rear parcel, 8400 Independence Ave., will consist of approximately 3,450 Sq. Ft. and has already been assigned its own address. The parcel includes an existing approximately 350 Sq. Ft. structure. Seller states approved plans provide for expansion of the existing structure into an approximately 1,500+ Sq. Ft. single-family residence. A new vinyl fence has already been installed along the proposed property line to physically separate the two future parcels. Seller states all required SB9 agency clearances have been obtained, with only the final approximately $17,000 Park (Quimby) fee remaining before the City records the final parcel map. Upon completion, Seller states the property is expected to be legally divided into two separate parcels, each with its own title deed and Assessor Parcel Number (APN). Buyer to independently verify all permits, approvals, square footage, development potential, fees, timelines, lease information, rental income, and remaining SB9 requirements with the appropriate governmental agencies. A rare opportunity to acquire an income-producing property with substantial entitlement work already completed while offering the opportunity to complete one of Canoga Park's most unique SB9 development projects. Shown by appointment only. Do not disturb occupants.

Location

State CA

County Los Angeles

Area Cp - Canoga Park

Rooms

Main Level Bedrooms 3

Interior

Interior Features All Bedrooms Down

Heating Central

Cooling Central Air

Fireplaces Type Family Room

Fireplace Yes

Laundry Inside, Outside

Exterior

Pool None

Community Features Street Lights, Sidewalks

View Y/N Yes

View Neighborhood, Trees/Woods

Private Pool No

Building

Lot Description Back Yard, Front Yard, Rectangular Lot

Dwelling Type House

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Schools

School District Los Angeles Unified

Others

Senior Community No

Tax ID 2779006029

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by John Tran Luxury Collective 818-201-7149, DRE #02034622

Nearby Locations

GET MORE INFORMATION

Craig & Priscilla Albin

REALTOR® | Broker-Associate | Lic# 01486993 | DRE#01437691

team@remaxdiscover.com

+1(714) 900-2442

4501 E La Palma Ave Ste 120, Anaheim, CA, 92807, USA

20957 Community ST Canoga Park, CA 91304

Craig & Priscilla Albin

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

20957 Community ST