Multifamily
11329 Sherman Way & 7209 Bakman Ave
11329 Sherman Way, Los Angeles, CA 91352
Listing Price: $3,495,000
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire 11329 Sherman Way and 7209 Bakman Ave, a 28-unit investment opportunity located in the highly desirable 91352 zip code of Sun Valley.
11329 Sherman Way & 7209 Bakman Ave
Investment Highlights
- Two Adjacent Properties: Totaling 28 units, including a separately parceled fourplex, allows for shared management efficiencies while providing long-term ownership, financing, and exit flexibility.
- On-Site Laundry Facilities: Centralized on-site laundry room provides a convenient resident amenity while generating supplemental income for ownership.
- Ample On-Site Parking: Large surface parking lot provides abundant resident parking—a key competitive advantage in the eastern San Fernando Valley and a strong driver of tenant retention.
- Strong In-Place Cash Flow with Massive Upside: The opportunity generates a ~5.4% in-place cap rate with a clear value-add path to a ~9.4% projected cap rate, driven by approximately 40–50% rental upside through mark-to-market rent growth and operational efficiencies.
- Diversified Unit Mix: The portfolio consists of (9) bachelor units, (8) studios, (10) one-bedroom / one-bath units, and (1) two-bedroom / two-bath unit, supporting broad renter demand and stable occupancy across multiple tenant profiles.
- Major Capital Improvements Completed: Ownership has recently completed key exterior and system upgrades, including copper plumbing, new windows, stone siding, fresh paint, and gated entry, reducing near-term CapEx exposure.
- Convenient, Amenity-Rich Location: Walkable access to nearby retail, services, and daily conveniences, with proximity to Burbank and North Hollywood employment hubs, supports durable workforce housing demand.
Exclusively Listed By
Listing Price: $3,495,000
Investment Highlights
- Two Adjacent Properties: Totaling 28 units, including a separately parceled fourplex, allows for shared management efficiencies while providing long-term ownership, financing, and exit flexibility.
- On-Site Laundry Facilities: Centralized on-site laundry room provides a convenient resident amenity while generating supplemental income for ownership.
- Ample On-Site Parking: Large surface parking lot provides abundant resident parking—a key competitive advantage in the eastern San Fernando Valley and a strong driver of tenant retention.
- Strong In-Place Cash Flow with Massive Upside: The opportunity generates a ~5.4% in-place cap rate with a clear value-add path to a ~9.4% projected cap rate, driven by approximately 40–50% rental upside through mark-to-market rent growth and operational efficiencies.
- Diversified Unit Mix: The portfolio consists of (9) bachelor units, (8) studios, (10) one-bedroom / one-bath units, and (1) two-bedroom / two-bath unit, supporting broad renter demand and stable occupancy across multiple tenant profiles.
- Major Capital Improvements Completed: Ownership has recently completed key exterior and system upgrades, including copper plumbing, new windows, stone siding, fresh paint, and gated entry, reducing near-term CapEx exposure.
- Convenient, Amenity-Rich Location: Walkable access to nearby retail, services, and daily conveniences, with proximity to Burbank and North Hollywood employment hubs, supports durable workforce housing demand.
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire 11329 Sherman Way and 7209 Bakman Ave, a 28-unit investment opportunity located in the highly desirable 91352 zip code of Sun Valley.
Exclusively Listed By
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