7008 Canby AveLos Angeles, CA 91335

Property Details for 7008 Canby Ave

Year built

1959

Construction

TILT-UP CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

1,825 SF

Zone code

LAM1

Property type

Retail properties

Property subtype

Auto shops

APN

2125-005-010

APU

2125005010

Description

This exceptional mixed-use investment property, located at 7008 Canby Ave, Los Angeles, CA 91335, presents a rare opportunity in the competitive Los Angeles market. The property consists of a 6,025 square foot building situated on a substantial 15,092 square foot lot, offering ample space for both indoor and outdoor operations. Currently operating as a thriving auto body shop and repair facility, the property boasts three tenants on month-to-month leases, generating a gross monthly rent of $7,545. The building is classified as Class C and features a large M1 yard and spray booth, ideal for automotive repair businesses. The asking price is $2,990,000, translating to a price per square foot of $496.27. This fee-simple ownership opportunity is categorized as an institutional investment, suitable for both owner-users and investors seeking a strong return. The property's 100% occupancy rate underscores its consistent profitability and desirability. This is a turnkey operation with significant potential for growth and expansion within the established automotive repair sector. The property's location in Los Angeles, within Los Angeles County, provides excellent access to a large customer base. This is a two-property portfolio, including an additional property at 18419 Hart St. (details not provided).

• CAP approach

  CAP return

  Valuation

  6%

  $776,597

  6.5%

  $716,859

  7%

  $665,655

• Comparable approach

  Method

  Valuation

  Relative Method

  $874,546

  Geo Method

  $874,546

• Alternative Use

  Use

  Valuation

  Residential

  $604,697

  Hospitality

  $553,899

  Educational

  $460,838

  Medical

  $476,687

  Retail

  $716,859

Location Insight

City

Reseda

County

Los Angeles

State

California

Latitude

34.1978

Longitude

-118.534

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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