34 Units | 88% 2BR/2BA | ±27% Rent Upside

Highlights:

• 88% of units are spacious 2-bedroom, 2-bath unit types
• Value-add investment with ±27% rental upside potential
• Select interiors upgraded with stainless steel appliances, granite countertops, and laminate hardwood-inspired flooring
• Private patios and balconies available in many units
• Swimming pool and two on-site laundry facilities
• Controlled-access entry, gated parking with assigned spaces, and security cameras throughout
• Adjacent to Warner Center and the planned Rams NFL Village
• Minutes from Chatsworth, Calabasas, and Tarzana
• Close to shopping, dining, and public transit
• 49% of residents are renters (CoStar)

Description:

Lucrum Group is proud to present the Vista Garden Apartments, a 34-unit multifamily investment opportunity ideally located at 20951 Roscoe Blvd, Canoga Park, CA. Built in 1963, this two-story, garden-style community offers ±34,370 building square feet on a ±0.81-acre lot, combining classic architectural appeal with thoughtful upgrades in the heart of the San Fernando Valley adjacent to the Warner Center.

This investment opportunity is priced attractively at an 8.87 GRM, cash flows nicely with 35% down-payment and offers many attractive financing options.

The property features a diverse unit mix of studio, one-bedroom, two-bedroom, and three-bedroom residences, with 88% comprised of spacious two-bedroom, two-bath units—a highly desirable floor plan for today’s renters. Tenant amenities include two on-site laundry facilities, controlled-access entry, gated parking with assigned spaces, and a swimming pool surrounded by tropical landscaping, creating a tranquil and community-oriented living environment.

Major systems are in serviceable condition and do not currently present any issues, buyer to verify:

+ Roof: Partial resurfacing, currently in serviceable condition.

+ Plumbing: Majority of vertical lines believed to be replaced with copper, with additional re-pipe work completed as necessary. Buyer to verify.

+ Electrical: Panels by Blakeman Brothers, with no current issues reported.

+ Utilities: Operating expenses expected to normalize following recent repairs to reduce excess water usage.

Select interiors have been remodeled with laminate hardwood-inspired flooring, granite countertops, stainless-steel appliances, mirrored closet doors, and central air conditioning. Ground-floor units feature expansive patios, while upper-level residences include private balconies, enhancing tenant comfort and lifestyle.

Constructed of wood-frame and painted stucco exterior. Recent capital improvements include completed soft story retrofit. Vista Garden Apartments is well-positioned for both stability and growth. With ±27% rent upside potential, this property represents a compelling opportunity for investors seeking immediate income with long-term value creation in a thriving Los Angeles submarket.

Canoga Park, located in the western San Fernando Valley of Los Angeles, is a diverse and dynamic neighborhood with a population of approximately 60,000 residents. Known for its strong community character and suburban appeal, the area offers an attractive balance of residential comfort, modern amenities, and accessibility to greater Los Angeles.

Strategically positioned about 28 miles northwest of Downtown Los Angeles, Canoga Park enjoys excellent connectivity. It is bordered by Warner Center, Woodland Hills, West Hills, Winnetka, and Chatsworth, with Calabasas and Simi Valley also nearby. The neighborhood benefits from proximity to the Metro G Line (Orange Line), which connects residents to the Red Line at North Hollywood, providing access to Downtown Los Angeles and the broader regional transit network. Major bus routes and the Warner Center Shuttle further enhance mobility across the Valley.

The community is supported by a wealth of shopping, dining, and entertainment options. Historic Old Town Canoga Park along Sherman Way offers local shops and eateries, while Westfield Topanga & The Village, one of the Valley’s premier retail destinations, features national and luxury retailers, diverse dining, and entertainment venues. Residents also enjoy weekly farmers markets and a wide variety of neighborhood grocery stores, reinforcing the area’s convenience and community appeal.

Canoga Park continues to attract capital investment and redevelopment, with new residential, retail, and infrastructure projects supported by city initiatives such as the Transit Oriented Communities (TOC) program. These improvements underscore the neighborhood’s position as a growing hub for multifamily housing demand, making Vista Garden Apartments ideally situated within a market poised for sustained growth and long-term value creation.

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