Property listed by Marcus & Millichap, Roderick 'Rick' Raymundo 818-212-2700
$1,615,000
With its high in-place CAP Rate of 6.22%, the property is one of the most attractively priced listings within one of the most desirable neighborhoods of Los Angeles. Because the property does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list, a new owner benefits… Read More by saving on an otherwise costly expense (Buyer to verify). Expenses are reduced even further by the fact that trash service is provided by the City of Los Angeles at no cost to the landlord. A substantial revenue stream is generated by the property's storage units, which currently provide an additional $1,000 monthly beyond the apartment rental income collected. A new owner may seek to take advantage of the approved architectural plans for two potential ADUs, which could increase both the monthly income and the property value even further. Located near the intersection of Van Nuys Boulevard and Burbank Boulevard, the building attracts residents with its convenient access to the amenities within Sherman Oaks, Studio City, Encino, and Valley Village. Costco and Target are each within a short driving distance, while the Westfield Fashion Square is just 1.7 miles away, with the high-end boutiques and fine dining destinations along Ventura Boulevard less than two miles south Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
8
Square Ft.
4,618
Lot Size
0.15 Acres
Year Built
1952
MLS Number
25569175
30 Days Snapshot Of 91401
$1.49M
+4%
(avg) sold price
8
-50%
homes sold
47
-37%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1952, Building area total: 4,618, Levels: Two, Living area: 4618, 2 stories, 1 building
Income
Gross income: $137,400, Net operating income: $100,497
Lot
0.155 acres, 6,750 square feet, Size: 6,750
Parking
Assigned
Property
Zoning: LARD1.5
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