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Multifamily

14065 Moorpark

14065 Moorpark St, Sherman Oaks, CA 91423

Listing Price: $7,950,000

Cap Rate
4.66%
Number of Units
30
GRM
12.74
Price/Unit
$265,000
Price/Gross SF
$393.92
Gross SF
20,182

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Park Seville, a 30-Unit Value-Add Opportunity in prime Sherman Oaks.

Located at 14065 Moorpark Street in Sherman Oaks, Park Seville is an extremely rare offering as the property is being sold by the original developer. The building’s mid-century design and location just steps away from Ventura Blvd. position it as an ideal opportunity for value-add investors looking to turn a building that is in one of the peak locations in the entire San Fernando Valley. The asset’s footprint features an expansive interior courtyard with a pool, secured parking for 22 Units (most studio units do not come with parking), on-site shared laundry facility, and efficient unit layouts. In addition to its exceptional physical plant, current ownership has maintained the building and improved select building systems throughout their ownership, including a copper re-pipe and new electrical subpanel upgrades. Additional upgrades include select unit enhancements upon each vacancy and major landscaping with front façade improvements. Due to its outstanding location, a subsequent buyer can renovate the units as they see fit to generate more revenue for themselves.

Park Seville is located on a 23,882-square-foot lot and is comprised of one two story walk-up style building. The property offers a desirable unit mix that bodes well for the renting community in the immediate area, including eleven (11) Studios, ten (10) one-bedroom/one-bathroom units, and nine (9) two-bedroom/one-bathroom units for a total of 30 units. As units begin to turnover, savvy investors stand to capture a loss-to-lease of roughly 25% by capitalizing on high-end finishes sought by modern Sherman Oaks renters.

Beyond the property’s intrinsic value, its exceptional location carries notable allure. Located just steps from Ventura Boulevard, some of Los Angeles most famed establishments such as Sherman Oaks Galleria, Westfield Fashion Square, and Castle Park. Additionally, Sherman Oaks is home to some of the best schools in all of Los Angeles, including Harvard-Westlake, Notre Dame, and Buckley. Additionally, Park Seville resides pinched between the best of what the entire San Fernando Valley has to offer as residents are just a quick drive over the canyon from being on the westside of the city. Upcoming transformative developments in Sherman Oaks such as IMT Residential’s new low-rise buildings, which features 249 residential units and 27,000 square feet of ground-floor commercial space, is yet another example of just how much institutional investors believe in Sherman Oaks.

Given the specific location, physical attributes of the asset, untapped value-add potential, and rarity of the offering, 14065 Moorpark Street offers investors the unique opportunity to establish a premier luxury community in one of Los Angeles’ most coveted rental submarkets.

Investment Highlights

  • Built in 1956 | Subject to RSO
  • Property Has Never Been Sold
  • Great Assumable Financing
  • 3.23% Rate, Interest Only, 43% LTV
  • Value Add: 25% Loss-to-Lease
  • Corner Lot w/ Alley Behind
  • Can Convert Garages to ADUs
  • Prime Sherman Oaks Location

Exclusively Listed By

Financing By

Multifamily

14065 Moorpark

Listing Price: $7,950,000

Cap Rate
4.66%
Number of Units
30
GRM
12.74
Price/Unit
$265,000
Price/Gross SF
$393.92
Gross SF
20,182

Investment Highlights

  • Built in 1956 | Subject to RSO
  • Property Has Never Been Sold
  • Great Assumable Financing
  • 3.23% Rate, Interest Only, 43% LTV
  • Value Add: 25% Loss-to-Lease
  • Corner Lot w/ Alley Behind
  • Can Convert Garages to ADUs
  • Prime Sherman Oaks Location

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Park Seville, a 30-Unit Value-Add Opportunity in prime Sherman Oaks. Located at 14065 Moorpark Street in Sherman Oaks, Park Seville is an extremely rare offering as the property is being sold by the original developer. The building’s mid-century design and location just steps away from Ventura Blvd. position it as an ideal opportunity for value-add investors looking to turn a building that is in one of the peak locations in the entire San Fernando Valley. The asset’s footprint features an expansive interior courtyard with a pool, secured parking for 22 Units (most studio units do not come with parking), on-site shared laundry facility, and efficient unit layouts. In addition to its exceptional physical plant, current ownership has maintained the building and improved select building systems throughout their ownership, including a copper re-pipe and new electrical subpanel upgrades. Additional upgrades include select unit enhancements upon each vacancy and major landscaping with front façade improvements. Due to its outstanding location, a subsequent buyer can renovate the units as they see fit to generate more revenue for themselves. Park Seville is located on a 23,882-square-foot lot and is comprised of one two story walk-up style building. The property offers a desirable unit mix that bodes well for the renting community in the immediate area, including eleven (11) Studios, ten (10) one-bedroom/one-bathroom units, and nine (9) two-bedroom/one-bathroom units for a total of 30 units. As units begin to turnover, savvy investors stand to capture a loss-to-lease of roughly 25% by capitalizing on high-end finishes sought by modern Sherman Oaks renters. Beyond the property’s intrinsic value, its exceptional location carries notable allure. Located just steps from Ventura Boulevard, some of Los Angeles most famed establishments such as Sherman Oaks Galleria, Westfield Fashion Square, and Castle Park. Additionally, Sherman Oaks is home to some of the best schools in all of Los Angeles, including Harvard-Westlake, Notre Dame, and Buckley. Additionally, Park Seville resides pinched between the best of what the entire San Fernando Valley has to offer as residents are just a quick drive over the canyon from being on the westside of the city. Upcoming transformative developments in Sherman Oaks such as IMT Residential’s new low-rise buildings, which features 249 residential units and 27,000 square feet of ground-floor commercial space, is yet another example of just how much institutional investors believe in Sherman Oaks. Given the specific location, physical attributes of the asset, untapped value-add potential, and rarity of the offering, 14065 Moorpark Street offers investors the unique opportunity to establish a premier luxury community in one of Los Angeles’ most coveted rental submarkets.

Exclusively Listed By

Financing By

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