Offering

Offering Overview

The LAAA Team of Marcus & Millichap is pleased to present 7305 Variel Avenue, a ten-unit apartment property situated on the northwest corner of Variel Avenue and Wyandotte Street in Canoga Park. Built in 1958, the two-story building features eight one-bedroom/one-bathroom units and two studios, totaling 6,942 square feet on an 8,552-square-foot R3-1 corner lot. The property is subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and provides ten parking spaces.

1. 01

   Corner Lot. 8,552 square feet at the northwest corner of Variel Ave and Wyandotte St, zoned R3-1, with ten parking spaces.

2. 02

   Opportunity Zone. The ZIMAS Parcel Profile Report places the property in an Opportunity Zone.

3. 03

   Section 8 Tier 7. ZIP 91303 is a Tier 7 area under HACLA's Section 8 payment standards effective September 1, 2026, allowing up to $2,110 for studios and $2,370 for one-bedroom units.

4. 04

   Near Warner Center. 1.1 miles from Westfield Topanga in Warner Center, the Valley's largest office and retail district.

5. 05

   Near Transit. The nearest public transit stop is the Metro G Line (Orange) Sherman Way Station at Sherman Way and Canoga Ave, approximately 0.3 miles away.

6. 06

   Fully Occupied. All ten units occupied on ownership's August 19, 2026 rent roll.

7. 07

   2026 Leasing. A studio signed at $1,395 and one-bedroom units at $1,595 and $1,695.

8. 08

   Long-Term Tenancies. Six residents in place since 2015 to 2018, at monthly rents of $1,049 to $1,564.

9. 09

   Renovated Interiors. Select units have white shaker cabinetry, quartz countertops, gas ranges, plank flooring and recessed lighting.

10. 10

    Tenant-Paid Gas and Electric. Residents pay their own gas and electric.