Lucrum Real Estate Group is proud to present a rare investment opportunity to acquire The Collection, located in the highly coveted city of San Fernando. The Collection is an adjacent two-parcel corner lot property located at 452 and 470 Chatsworth Drive wrapping around the corner down Coronel Street to include an SFR located at 750 Coronel for a total of 5 spacious units comprised of 4 (3+2.5) townhomes and 1 (3+2) single-family residence.
This unique value-added investment represents an attractive price per square foot, rental upside potential, and best in place Cap Rate currently offered for sale in the City of San Fernando at 5.51% and a pro-forma Cap Rate of 6.99%! In addition, all units are currently eligible for annual rental increases at a maximum of 8.8% under AB 1482. This allows for an investor to capitalize on a great year one cash on cash return after implementing a rent increase and drive the Cap Rate up to just under 6% without the need for any major capital investment or expense.
The 452 Chatsworth Drive address and APN include a townhome style duplex + single-family residence located at 750 Coronel Street! 470 Chatsworth Drive is a near identical duplex to 452 Chatsworth Dr. The properties feature Spanish inspired architecture, attached two-car garages with additional driveway parking, full-size laundry rooms, spacious private yards and patios, central HVAC units, modern finishes, stainless steel appliances and creative bay / alcove space in 2 select units perfect for office, nursery, or den usage. The construction is of a wood frame, flat roof and painted stucco exterior, built in 1990 totaling +/- 5,856 square feet on a +/- 12,322 square foot lot.
It is rare for investment properties to trade in the City of San Fernando and this particular asset has not traded hands in over 33 years. The pride of ownership is evident as soon as you pull up to the properties in their curb appeal and how they have been diligently maintained. The units provide separate hot water heaters and are individually metered for gas and electricity, with the owner paying for water and landscaping.
All units are due for rental increases which the Seller has left for the new owner to determine.
The Collection is located in the heart of charming San Fernando, California at 452-70 Chatsworth Dr. These idyllic assets rest within a peaceful and family-friendly neighborhood, offering a perfect blend of suburban serenity and convenient city access.
Nestled on a tree-lined street, The Collection boasts a traditional yet well-maintained appearance with a well-manicured front lawn and inviting curb appeal. The neighborhood exudes a welcoming atmosphere, making it an ideal place for families, professionals, and anyone seeking a tranquil living experience.
The area around The Collection is characterized by a mix of single-family homes, providing a sense of community, and fostering a strong neighborly bond. Residents here take pride in maintaining their properties, adding to the overall beauty of the locale.
Within a short distance, residents can enjoy the convenience of various amenities and services. There are grocery stores, restaurants, cafes, and local shops nearby, ensuring that daily necessities are within easy reach. The San Fernando Mall, situated just a few blocks away, offers additional shopping and entertainment options for those seeking a more diverse experience.
For outdoor enthusiasts, the San Fernando Recreation Park is close by, offering ample opportunities for leisurely strolls, picnics, and recreational activities. Sports enthusiasts can enjoy the park’s facilities, including playgrounds, tennis courts, and sports fields.
San Fernando is strategically located, making it an accessible hub for commuters. The proximity to major highways and public transportation options ensures smooth travel to neighboring cities and attractions. Additionally, several schools and educational institutions are within a reasonable distance, making this neighborhood an excellent choice for families with school-going children.
Overall, The Collection offers an inviting and comfortable living environment in the beautiful city of San Fernando. With its peaceful setting, friendly neighborhood, and convenient location, this property provides the perfect place for tenants to call home and represents an ideal investment for multifamily investors.
The City of San Fernando is also known for its strong spirit and local events, such as the annual “Fiesta de San Fernando” celebration, which celebrates the city’s history and culture. The city has a vibrant downtown area with a mix of restaurants, shops, and other businesses, as well as several parks and recreation areas, including Pioneer Park, Las Palmas Park, and the San Fernando Regional Pool.
Overall, the City of San Fernando offers a range of opportunities for those interested in real estate, whether as homeowners, investors, or business owners. With its strong community, convenient location, and affordable real estate prices, it is a popular choice to live and do business.
+ Potential for Seller financing!
+ (4) 3+2.5 townhome style units & (1) single-family residence
+ Rental upside potential
+ Attractive price per square foot
+ Year 1 rental increases reflected
+ Maximum allowable annual rental increase of 8.8% per AB 1482
+ Spacious and charming units with plenty of natural sunlight & modern finishes
+ Separate hot water heaters and individually metered for gas & electric
+ Attached two-car garages
+ Central HVAC units | full-size in-unit laundry rooms
+ Spacious private rear yards and patios for all units
+ 2 adjacent parcels | duplex & triplex
+ Detached SFR included with triplex
Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.
