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12215 San Fernando Rd
For Sale $3,000,000 ($659.49 per Sq Ft)
$3,000,000 ($659.49 per Sq Ft)
- 9 Units
- 4,549 Sq Ft
- 39,537 Sq Ft
- Unknown Cap Rate
Description
The property, originally constructed in 1937, is comprised of nine units with a mix of two x one bedroom/one bath, and seven x two bedroom/one bath apartments, situated on 0.91 acres (39,537 SF) parcel. In 2018, the property was renovated and two new units were added. Additional income is derived from truck parking. The parcel is zoned LA C2-2D-CPIO. City of Los Angeles Transit Oriented Communities qualifies the parcel as TOC Tier 4 due to its proximity to the Sylmar/San Fernando Metrolink Train Station. Tier 4 qualifies for an 80% bonus in unit density based on the underlying zoning. This is in exchange for setting aside a certain amount of low-income units. By right one could develop 86 units. With TOC Tier 4, one could develop 155 units. Please refer to the above link for specifics. Additionally, the city has implemented a local incentive program detailed in the City of Los Angeles Density Bonus Program which complements the TOC program and just adopted the Citywide Housing Incentive Program Ordinance or CHIP. Further, the site qualifies for Executive Directive 1 (ED 1) which expedites the processing of shelters and 100% affordable housing projects in the city of Los Angeles. The offering is a rare opportunity for an affordable housing developer to acquire a sizable residential parcel eligible for expedited entitlement processing and continue to earn income.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,000,000 |
| Property Type | Multi-Family |
| Usable Sqft | 4,549 |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1937 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2611010012 |
| MLS # | 26639141 |
| Property ID | 322514403 |
| Lot Sqft | 39,537 |
| Zoning | LA C2-2D |
| Total Units | 9 |
| Days on Market | 29 |
| Original List Price | $3,000,000 |
| Date Updated | January 24, 2026 |
| Date Created | January 16, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.00 | $1,746 | $2,500 |
| Unit #2 | 2 | 1.00 | $2,500 | $2,500 |
| Unit #3 | 2 | 1.00 | $1,586 | $2,500 |
| Unit #4 | 2 | 1.00 | $1,960 | $2,500 |
| Unit #5 | 2 | 1.00 | $1,076 | $2,500 |
| Unit #6 | 1 | 1.00 | $1,218 | $1,950 |
| Unit #7 | 2 | 1.00 | $1,408 | $2,500 |
| Unit #8 | 2 | 1.00 | $1,330 | $2,500 |
| Unit #9 | 1 | 1.00 | $1,408 | $1,950 |
| Gross Income (Yr) | $ 172,863 |
| Operating Expenses | $ 98,713 |
| Net Income (Yr) | $ 74,150 |
| Cap Rate | 2.50% |
Listing Provided By
Robert Leveen an agent of Lee & Associates Investments Services Group Inc. Lic #01476685
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Robert Crawford
REAL ESTATE AGENT