REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,550,000
Est. payment | /mo
10 Beds
10 Baths
8,830 SqFt
$ 2,550,000
Est. payment | /mo
10 Beds
10 Baths
8,830 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 8,830 sqft
Price per Sqft $288
MLS Listing ID 26845473
Bedrooms 10
HOA Y/N No
Year Built 1987
Lot Size 6,764 Sqft
Property Description
Due to its construction in 1987, the property is not subject to Los Angeles rent control and instead allows for higher annual rent increases via AB 1482. Given its attractive 6.46% CAP Rate, the asset offers an investor both strong immediate cash flow as well as the opportunity to increase future income more rapidly without the restrictions of Los Angeles rent control. With spacious one-bedroom floorplans averaging approximately 875 square feet each, the property can more easily attract higher-paying tenants. Its array of desirable amenities, including central air/heat, private balconies, and on-grade garage parking, allow the building to achieve more premium rents than competing apartments in the local area. Several of the units have already been thoroughly upgraded, saving an owner from future renovation costs while providing a clear blueprint for remodeling the remaining apartments. Interior upgrades in renovated units include wood flooring, stone countertops, stainless steel appliances, recessed lighting, and new ceiling fans. The building does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list, saving an investor from an otherwise costly maintenance expense. Located near the intersection of Sherman Way and Haskell Avenue, the property offers residents incredibly easy access to the 405 Freeway, connecting tenants to various job centers and retail destinations throughout the San Fernando Valley and Greater Los Angeles Metro area.
Location
State CA
County Los Angeles
Area Lkbl - Lake Balboa
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 10
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2206027030
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019
Nearby Locations
GET MORE INFORMATION
Phillip Nunez
REALTOR® | Lic# 01421807