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Multifamily

5027 Buffalo Ave

5027 Buffalo Ave, Los Angeles, CA 91423

Listing Price: $5,000,000

Cap Rate
3.55%
Number of Units
12
Occupancy
97.0%
Price/Unit
$416,667
Price/Gross SF
$390.87
Gross SF
12,792

Investment Overview

Marcus & Millichap is pleased to present 5027-5033 Buffalo Avenue, a 12-unit multifamily property located in the affluent community of Sherman Oaks, California. With an outstanding unit mix, including mostly two and three bedroom apartments, the property is well-positioned for an investor to capitalize on recent rent growth in the submarket with roughly 44% upside in rents . Constructed in 1961, the two buildings occupy an 11,691 square foot lot near the intersection of Riverside Drive and Woodman Avenue. The property has undergone several upgrades in the past, including new roofs on both buildings, newer exterior paint, and a new modern fence creating a private yard for one of the apartments. Seismic retrofitting has been completed along with select interiors that have been renovated, including some combination of luxury vinyl plank flooring, recessed lighting, quartz countertops, new cabinets, stainless steel appliances, upgraded bathrooms, ceiling fans, and a washer/dryer unit. The on-site laundry facilities are landlord-owned, allowing for a substantial amount of additional income. Located just north of the Westfield Fashion Square and Notre Dame High School, the property sits mere blocks from the boutiques and bistros of prestigious Ventura Boulevard.

Investment Highlights

  • Approximately 44% Rent Upside
  • Several recent improvements-New Roofs in 2015 Newer Exterior Paint. Newer Fence, some new windows, newer laundry facilities
  • Outstanding Unit-Mix-Mostly Two and Three Bedroom Apartments
  • Prime Valley Location Within Quiet Cul-de-sac

Exclusively Listed By

Financing By

Multifamily

5027 Buffalo Ave

Listing Price: $5,000,000

Cap Rate
3.55%
Number of Units
12
Occupancy
97.0%
Price/Unit
$416,667
Price/Gross SF
$390.87
Gross SF
12,792

Investment Highlights

  • Approximately 44% Rent Upside
  • Several recent improvements-New Roofs in 2015 Newer Exterior Paint. Newer Fence, some new windows, newer laundry facilities
  • Outstanding Unit-Mix-Mostly Two and Three Bedroom Apartments
  • Prime Valley Location Within Quiet Cul-de-sac

Investment Overview

Marcus & Millichap is pleased to present 5027-5033 Buffalo Avenue, a 12-unit multifamily property located in the affluent community of Sherman Oaks, California. With an outstanding unit mix, including mostly two and three bedroom apartments, the property is well-positioned for an investor to capitalize on recent rent growth in the submarket with roughly 44% upside in rents . Constructed in 1961, the two buildings occupy an 11,691 square foot lot near the intersection of Riverside Drive and Woodman Avenue. The property has undergone several upgrades in the past, including new roofs on both buildings, newer exterior paint, and a new modern fence creating a private yard for one of the apartments. Seismic retrofitting has been completed along with select interiors that have been renovated, including some combination of luxury vinyl plank flooring, recessed lighting, quartz countertops, new cabinets, stainless steel appliances, upgraded bathrooms, ceiling fans, and a washer/dryer unit. The on-site laundry facilities are landlord-owned, allowing for a substantial amount of additional income. Located just north of the Westfield Fashion Square and Notre Dame High School, the property sits mere blocks from the boutiques and bistros of prestigious Ventura Boulevard.

Exclusively Listed By

Financing By

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