
Courtesy of: Lauren Duffy, Douglas Elliman, lauren@tybergduffy.com
$2,799,000
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12 bed
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8.00 Bath (8 Full)
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Lot: 0.35 Acres
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Other
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$2,799,000
22320 Itasca St Situated on a quiet cul-de-sac with scenic views of the Chatsworth Mountains, this exceptional 4 unit residential compound offers a rare blend of investment performance and flexible residential living. Located on an expansive 15, 300 SF lot with convenient access to the 118 Freeway, the property consists of 4 thoughtfully designed 3-bedroom, 2-bathroom residences totaling approximately 5300 SF of living space. Designed as a campus style layout with immense privacy, each dwelling features a separate entrance, private outdoor space, soaring ceilings, parking, in-unit laundry hookups and contemporary finishes throughout. Built to current construction and energy-efficiency standards, the property is equipped with solar power, HERS-certified systems, and individually metered. The projected rent roll consists of approximately $4, 800/month for the main dwelling, $4, 500/month for the duplex unit, and $3, 800/month for each ADU, generating a total projected gross income of approximately $16, 900 per month or $202, 800 annually. Pro forma projections are based on 3% annual rental escalations and 3% annual expense inflation, while maintaining an estimated 28% expense ratio due to the benefits of brand-new construction, individually metered utilities, energy-efficient systems, and onsite solar generation. This operational efficiency supports a projected Year 1 NOI of approximately $146, 000 and an estimated 5.06% cap rate, with projected income growth driving cap rate expansion to approximately 5.70% by Year 5. With its rare combination of new construction, operational efficiency, projected income growth, and flexible use potential, this property presents an exceptional opportunity for investors, owner-users, and care-facility operators alike. (Buyer to verify all use, zoning and licensing requirements).
Courtesy of: Lauren Duffy, Douglas Elliman, lauren@tybergduffy.com
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