14938 Moorpark St, Sherman Oaks, CA 91403
7 Unit Apartment Building | $1,849,000 ($264,143/Unit) | 4.12% Cap Rate | Sherman Oaks, CA 91403
For Sale
Active
Asking Price $1,849,000
- Property Type
-
Multifamily
- Square Feet
- 4,771 SF
Listing Contacts
Dean Cutler
Greg Offsay
Property Overview
illi Commercial is pleased to present 14938 Moorpark Street, a 7 unit multi-family residential property for sale. Located a block from Ventura Blvd. in the heart of Sherman Oaks, CA, the property is well positioned in one the most highly desirable and walkable suburban communities in Los Angeles.
The complex is within walking distance of Pavilions and Whole Foods markets, Starbucks, Blu Jam Cafe, Mulberry Street Pizza, Marmalade Cafe, the Sherman Oaks Galleria including 24Hr Fitness, Regal Cinemas, the Cheesecake Factory, and many more local favorite restaurants and shopping destinations. With convenient access to public transit and the 101 and 405 Freeways, residents are centrally located to the entire Metro area.
With most tenants paying below market rents, this asset presents an excellent value-add investment opportunity, with the possibility of redevelopment for higher density, subject to Buyer’s verification. Sale subject to Seller identifying 1031 exchange.
The complex is within walking distance of Pavilions and Whole Foods markets, Starbucks, Blu Jam Cafe, Mulberry Street Pizza, Marmalade Cafe, the Sherman Oaks Galleria including 24Hr Fitness, Regal Cinemas, the Cheesecake Factory, and many more local favorite restaurants and shopping destinations. With convenient access to public transit and the 101 and 405 Freeways, residents are centrally located to the entire Metro area.
With most tenants paying below market rents, this asset presents an excellent value-add investment opportunity, with the possibility of redevelopment for higher density, subject to Buyer’s verification. Sale subject to Seller identifying 1031 exchange.
Property Details
- Class
- C
- Year Built
- 1960
- Stories
- 2
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 7
Highlights
- 7 unit multi-family
- Located a block from Ventura Blvd. in the heart of Sherman Oaks, CA
- 100% occupied by many long-term tenants paying below market rents
- Possibility of redevelopment for higher density, subject to Buyer’s verification
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