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
Property listed by Marcus & Millichap, Roderick 'Rick' Raymundo 310-259-7556
Listing Snapshot
Days Online
180
Last Updated
Beds
8
Square Ft.
4,618
Lot Size
0.15 Acres
Year Built
1952
MLS Number
25569175
Additional Details
Building
Built in 1952, Living area: 4618.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $137,400, Net Operating Income: $100,497
Lot
0.155 acres
Parking
Assigned
Taxes
Parcel Number: 2245006012, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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