10625 Petit Avenue, Granada Hills, CA 91344

10625 Petit Avenue presents 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. Eight 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. 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.

Key points:

• Generational Opportunity: Offered for sale for the very first time since its original development.

• Oversized Lot: An expansive 1.25-acre parcel situated in the highly desirable prime Granada Hills neighborhood.

• Value-Add Potential: Capture immediate rental upside with several vacant units ready for renovation.

• Development Upside: Significant ADU potential across multiple areas of the site to maximize future density.

• Turnkey Infrastructure: Features recently updated electrical subpanels (upgraded in 2025) to lower immediate capital expenditures.

• Premium Renter Market: Located in a high-demand submarket characterized by incredibly strong renter demand and attractive demographics.

Property Features:

• List Price: $10,500,000
• Building Size: +/-39,255 Sq.Ft.
• Land Area: +/-54,450 Sq.Ft.
• Number of Units: 57
• Price Per Unit: $184,211
• Price per Sq.Ft.: $267.48
• Cap Rate (Current): 6.22%
• Cap Rate (Projected): 7.96%
• GRM (Current): 9.26
• GRM (Projected): 7.85