Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
8517 Cedros Avenue . Panorama City , CA 91402
For sale 8 units Apartment building. Existing real 6% Cap Rate and 11.9 GRM. For more information contact the listing agents Armin Soleimani arminsoleimani@gmail.com 310 666-2246 julio ruiz ziuroiluj@gmail.com (818) 524-0706
Posted: 02/19/2023 8:23 am
| On HOMEiZ: 441 days |
Updated: 11 months ago
| Views: 494
Location Map
Property Type
Sold
Property Price
$2200000
$2200000
03/31/2023
11,250.00
Sq. Ft.
$307
7168
2.5%
6%
$191364
$132000
11.00
1.25%
$27500
Property Location & Description
For sale 8 units Apartment building. Existing real 6% Cap Rate and 11.9 GRM. For more information contact the listing agents Armin Soleimani arminsoleimani@gmail.com 310 666-2246 julio ruiz ziuroiluj@gmail.com (818) 524-0706
Rent Control
Large 7,168 SF Renovated building that features 8 large 2 Bed/1 Bath units. Priced only at $320/SF for fully renovated units that are cash flowing at a current 6% Cap Rate and 11.9 GRM with additional upside to an 8.2% cap rate and 8.9 GRM on the proforma. The offering features 16 tandem parking spaces (2 spaces per unit) in the covered carport area in the back. This Newer complex was built in 1977 and consists of two 4-unit structures that have been fully renovated in 2022. Individually metered for Gas & Electricity, Central AC/Heat for all units, as well as newer roofs. Preliminary plans to add 3 ADUs (1 Attached ADU in the Laundry room + 2 Detached ADUs over the back Carport) to further improve the numbers. Do not miss out on your chance to acquire a stabilized 8-unit apartment building
Located in a high-demand rental area of Panorama City!
8
$275000
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
2+1
8
2.
3.
4.
5.
2653-016-060
LAR3
97%
Wood & Stucco
2
1977
Good
Large 7,168 SF Renovated 8 Units cash flowing at a 6% Cap Rate and 11.9 GRM from Day 1
Priced only at $320/SF for renovated units and further upside to 8.2% cap rate on the proforma
All Large 2 Bedroom 1 Bathroom units with Central AC
All Large 2 Bedroom 1 Bathroom units with Central AC
Newer built in 1977 & Individually metered for Gas & Electricity
Preliminary plans to add 3 ADUs to further improve the numbers
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
8
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
https://offmarketexperts.com/menlo-5
Listing Presented by
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