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Multifamily

14375 Polk

14375 Polk St, Sylmar, CA 91342

Listing Price: $4,380,000

Cap Rate
4.73%
Number of Units
23
GRM
11.35
Price/Unit
$190,435
Price/Gross SF
$276.38
Gross SF
15,848

Investment Overview

INVESTMENT OVERVIEW
Marcus & Millichap is proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retro?t work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and ?ooring, along with re-glazed bathtubs and new tile.
The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually.
The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate ?x ed through May 2027.
Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal.
Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.

Investment Highlights

  • Built in 1964
  • Strong Value Add Potential
  • Approx. 30% Upside in Rents
  • 3.73% Assumable Loan
  • Ample Secured Parking On-Site
  • Large Open Courtyard

Exclusively Listed By

Financing By

Multifamily

14375 Polk

Listing Price: $4,380,000

Cap Rate
4.73%
Number of Units
23
GRM
11.35
Price/Unit
$190,435
Price/Gross SF
$276.38
Gross SF
15,848

Investment Highlights

  • Built in 1964
  • Strong Value Add Potential
  • Approx. 30% Upside in Rents
  • 3.73% Assumable Loan
  • Ample Secured Parking On-Site
  • Large Open Courtyard

Investment Overview

INVESTMENT OVERVIEW Marcus & Millichap is proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retro?t work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and ?ooring, along with re-glazed bathtubs and new tile. The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually. The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate ?x ed through May 2027. Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal. Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.

Exclusively Listed By

Financing By

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