For sale 13 units apartment building in Sherman Oaks, CA. For more information please contact the listing agent, Glen Scher 818-212-2808 Glen.Scher@marcusmillichap.com

Posted: 02/05/2020 11:13 am | On HOMEiZ: 1548 days | Updated: 4 years ago | Views: 1134

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$4500000

Last Sold Price

$4500000

Last Sold Date

02/04/2020

Total Lot Size

0.31 Acres

Asking Price per Sq. Ft.

$375

Total Building Size Sq. Ft.

12002

Commission Split %

Contact listing agent%

Cap Rate %

4.31%

Gross Annual Income

Net Operating Income

$193950

Gross Rent Multiplier

15.24

Annual Property Tax Rate for this property

0.755%

Property tax total amount

$33975

Property Location & Description

Listing Headline

For sale 13 units apartment building in Sherman Oaks, CA. For more information please contact the listing agent, Glen Scher 818-212-2808 Glen.Scher@marcusmillichap.com

Rent control

Rent Control

Property Description

Built in 1965, the offering consists of 3-One bedroom / One bathroom, 8- Two bedroom / Two bathroom and 1- Two bedroom / One bathroom units. The Property has undergone significant renovations and upgrades within the past year and a half including 5 completely turned over units, completion of seismic retrofit work, repaint of the entire property, upgraded all exterior lighting, complete re-landscaping, upgraded roof, etc. With a Walk Score of 81. A turn key property with no retrofit work necessary and significant upside, this investment presents an investor with immediate upside potential without the headache of a huge looming expense.

Location Description

The Property is well situated proximate to major freeways, less than a mile from The Westfield Fashion Square, all business corridors and dining & entertainment.

No. of Units

Price per Unit

$346154

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

1+1

2+2

2+2 Owner unit

Occupancy %

100%

Construction Type

Wood & Stucco

No. Stories

Year Built

1965

Overall Property Condition

Very good

Highlights

No Deferred Maintenance / Turn Key

All Seismic Retrofitting Work Complete

Over 20% Upside in Rents

Great Unit Mix w/ Mostly 2 Bed / 2 Bath Units

Sparkling Pool

Property Information

Amenities

Pool

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

# of Covered Parkings

Investment Overview

Type of use

Investor

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

Listing Info

Listing ID: 2161

Sold

For Sale

$4,500,000

Listing Presented by

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4535 Murietta Avenue . Sherman Oaks , CA 91423