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$ 1,615,000
Est. payment | /mo
8 Beds
6 Baths
4,618 SqFt
$ 1,615,000
Est. payment | /mo
8 Beds
6 Baths
4,618 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,618 sqft
Price per Sqft $349
MLS Listing ID 25569175
Bedrooms 8
HOA Y/N No
Year Built 1952
Lot Size 6,751 Sqft
Property Description
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 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
Location
State CA
County Los Angeles
Area So - Sherman Oaks
Zoning LARD1.5
Interior
Fireplace No
Exterior
Parking Features Assigned
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2245006012
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "