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Multifamily

19103 Sherman Way

19103 Sherman Way, Reseda, CA 91335

Listing Price: Request For Offer

Number of Units
10
Gross SF
8,398

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 19103 Sherman Way, a 10-unit multifamily property that contains three additional non-conforming units in Reseda, CA. Situated at the highly visible corner of Sherman Way and Vanalden Avenue, the property allows tenants convenient access to the revitalized Warner Center and Woodland Hills neighborhoods, including several new and proposed development projects. The new Topanga Village and recently opened Topanga Social are a short drive southwest of the building. The entitled Promenade 2035 mixed-use campus, which could span 35 acres and may include a new sports and entertainment complex for the Los Angeles Rams to use as a practice facility, in addition to 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units, could be developed nearby via a $1.5 billion infusion of capital into the local area.

The subject property features full copper plumbing, while the new roof was installed in 2021. That same year, all required seismic retrofit repairs were also completed (Buyer to verify), allowing a new owner to benefit from significantly reduced deferred maintenance expenses.

A new investor can add substantial value to the asset and also improve cash flow dramatically by recapturing the approximate 49% in rent upside. In addition to this rent upside, there are three units that are currently non-conforming, producing an extra $3,044 in monthly revenue. Yet another income stream is provided by the on-site laundry facilities at the property.

Investment Highlights

  • Full Copper Plumbing, New Roof in 2021
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Substantial Value-Add Opportunity – Rents Approximately 49% Below Market
  • High Visibility on Corner Lot Along One of the Valley's Largest Thoroughfares
  • Convenient Access to New Topanga Village, Topanga Social, and Northridge Fashion Center
  • Near Potential $1.5 Billion Promenade 2035 Development Site – Proposed 3,200,000 Square Foot Mixed-Use Sports and Entertainment Complex
  • Additional Income Stream Provided via On-Site Laundry Facilities
  • Close Proximity to Pierce College and CSUN Campus

Exclusively Listed By

Financing By

Multifamily

19103 Sherman Way

Listing Price: Request For Offer

Number of Units
10
Gross SF
8,398

Investment Highlights

  • Full Copper Plumbing, New Roof in 2021
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Substantial Value-Add Opportunity – Rents Approximately 49% Below Market
  • High Visibility on Corner Lot Along One of the Valley's Largest Thoroughfares
  • Convenient Access to New Topanga Village, Topanga Social, and Northridge Fashion Center
  • Near Potential $1.5 Billion Promenade 2035 Development Site – Proposed 3,200,000 Square Foot Mixed-Use Sports and Entertainment Complex
  • Additional Income Stream Provided via On-Site Laundry Facilities
  • Close Proximity to Pierce College and CSUN Campus

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 19103 Sherman Way, a 10-unit multifamily property that contains three additional non-conforming units in Reseda, CA. Situated at the highly visible corner of Sherman Way and Vanalden Avenue, the property allows tenants convenient access to the revitalized Warner Center and Woodland Hills neighborhoods, including several new and proposed development projects. The new Topanga Village and recently opened Topanga Social are a short drive southwest of the building. The entitled Promenade 2035 mixed-use campus, which could span 35 acres and may include a new sports and entertainment complex for the Los Angeles Rams to use as a practice facility, in addition to 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units, could be developed nearby via a $1.5 billion infusion of capital into the local area. The subject property features full copper plumbing, while the new roof was installed in 2021. That same year, all required seismic retrofit repairs were also completed (Buyer to verify), allowing a new owner to benefit from significantly reduced deferred maintenance expenses. A new investor can add substantial value to the asset and also improve cash flow dramatically by recapturing the approximate 49% in rent upside. In addition to this rent upside, there are three units that are currently non-conforming, producing an extra $3,044 in monthly revenue. Yet another income stream is provided by the on-site laundry facilities at the property.

Exclusively Listed By

Financing By

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