LeMarsh Gardens 10200 De Soto Ave

Marcus & Millichap is pleased to present the Lemarsh Gardens Apartments, an 86-unit value add apartment building located at 10200 De Soto Avenue in Chatsworth, California. Current rents are approximately 32% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. There is also potential to create new ADUs (buyer to conduct its own investigations). Built in 1963, the property features a favorable unit mix consisting of (56) large one-bedroom/one-bathroom units (average size 780 sf) and (30) large two-bedroom/two-bathroom units (average size 1,100 sf). Unit features porcelain tile kitchen countertops, wood-inspired plank flooring (select units), large wall-to-wall closets, wide balconies/patios and central air conditioning and heating, full appliance package, breakfast bar, ample cabinetry and storage and designer lighting, fixtures and finishes. Property amenities include secured access, carport parking spaces, sparkling pool and community clubhouse area, 24-hour laundry facility, professional on-site management, 24-hour maintenance call center, online rent payment and work orders and a pet friendly community environment. The 85,705 square foot building sits on a large 1.69 acre lot that is LAR3 zoned.
The Lemarsh Gardens Apartments are located in close proximity to grocery stores, restaurants and retail on both De Soto Avenue and Devonshire Street. The property is conveniently located near the 118 and 101 freeways and just a short drive to major job centers such as Canoga Park, Woodland Hills, West Hills and Northridge. The property is also just 1 mile from the Chatsworth Metrolink Station offering a viable public transportation option via rail to Downtown LA as well stops throughout Ventura County.