10625 Petit Ave, Granada Hills, CA 91344

Property Description

A rare opportunity to acquire a generational multifamily asset in one of the San Fernando Valley's most desirable rental markets. Offered for sale for the first time since its original development, the property has remained under the ownership of the original developer's family for more than five decades and occupies an exceptional site in the heart of Granada Hills. Opportunities to acquire an apartment community of this scale on such a large parcel are increasingly limited, particularly in a neighborhood defined by strong residential fundamentals, limited multifamily inventory, and enduring renter demand. The property offers a compelling combination of immediate value-add potential and long-term development upside. Several vacant units allow investors to implement a renovation program and capture top-of-market rents, while the oversized 1.25-acre site creates a unique opportunity to explore additional density through ADU development. Assumptions have been made related to the potential income of the vacant units in the income details section. The existing recreation room may present a conversion opportunity under California housing legislation, including SB 1211, and the substantial excess land area may support additional ground-up ADUs, subject to buyer verification. Importantly, the electrical sub-panels were upgraded in 2025, reducing near-term capital expenditure needs and enhancing the property's readiness for future improvements. Located in the highly sought-after Granada Hills community, the property benefits from outstanding regional connectivity with convenient access to both the 118 and 405 Freeways, providing direct links to major employment centers throughout the San Fernando Valley and greater Los Angeles. Residents are drawn to the area's strong quality of life, established residential character, and highly regarded educational offerings, including proximity to Granada Hills Charter High School, one of California's most recognized public charter schools. The surrounding neighborhood is anchored by major retail destinations such as Balboa Mission Center and Granada Village, offering residents convenient access to a wide range of shopping, dining, and everyday services.