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Multifamily

16753 Sherman Way

16753 Sherman Way, Los Angeles, CA 91406

Listing Price: $2,495,000

Cap Rate
5.18%
Number of Units
4
GRM
14.55
Occupancy
97.0%
Price/Unit
$623,750
Price/Gross SF
$277.22
Gross SF
9,000

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 16753 Sherman Way in Van Nuys, California. The subject property is situated in a good Lake Balboa location on the north side of Sherman Way, east of Balboa Boulevard.
Lake Balboa is a residential neighborhood in Van Nuys, on the west side of the US-405 Freeway. This area is bordered by the Van Nuys Airport to the north and its namesake outdoor space to the south. The Lake Balboa/Anthony C. Beilenson Park is part of the larger Sepulveda Basin Recreation Area & Wildlife Reserve. Visitors of this park enjoy hiking or biking along the many trails, peddle boating or fishing at the lake, visiting the wildlife preserve, walking through the Japanese Garden, participating in the Woodley Park Archery Range or Van Nuys Golf Course, skating at Pedlow Skate Park, watching dogs at the Sepulveda Basin Off-Leash Dog Park, visiting the Balboa Sports Center, or walking along the LA River. All of these outdoor recreation areas are located adjacent to each other. Residents of the subject property enjoy the dominant access to commercial corridors on Sherman Way and Balboa Boulevard. Tenants can take a short five (5) minute walk to visit Oros Bakery & Pizza, Tacos Corona, In-N-Out Burger, Mamas Donuts, Lees Sandwiches, and Kao Hom Thai Cuisine.
Built in 2019, this offering is not subject to rent control and consists of two (2) tri-level duplexes. The property has an incredible unit mix of four (4) four-bedroom/ four-bathroom townhome units, two (2) of which have access to a private backyard. All of the units have near identical floorplans with the ground levels containing one (1) bedroom and private garages. The second levels contain the main living areas of the kitchens, dining rooms, and living rooms. The third levels house the remaining three (3) bedrooms, including the master suite. Each unit is spacious and bright with open floorplans and plenty of windows letting in natural light. The kitchens feature quartz countertops, a large kitchen sink, and stainless steel appliances including dishwashers, microwaves, gas stoves, and refrigerator/freezers with ice makers. These expansive townhomes come fully equipped with central HVAC and in-unit stackable washer/dryers. Each unit features hardwood floor throughout and tons of built-in storage, including walk-in closets. Although the property consists of two (2) duplexes, each unit is separate, private and luxurious. The front two (2) units have access to the quaint, grassy front yard while the back two (2) units are each connected to a private, grassy backyard. There are five (5) garage parking spaces and room for three (5) additional cars in uncovered parking areas, therefore each unit has two (2) private parking spaces.
Ideally positioned in a good Lake Balboa location, this offering presents a high cash flowing 2019 build fourplex free of rent control with an incredible unit mix.

Investment Highlights

  • Good Lake Balboa Location
  • Built in 2019 - Not Subject to Rent Control
  • Expansive 4-Bed Townhome Units
  • Two (2) Tri-Level Duplexes Containing Four (4) Units Total
  • Eight (8) Parking Spaces
  • Private Front & Back Yards

Exclusively Listed By

Listing Price: $2,495,000

Cap Rate
5.18%
Number of Units
4
GRM
14.55
Occupancy
97.0%
Price/Unit
$623,750
Price/Gross SF
$277.22
Gross SF
9,000

Investment Highlights

  • Good Lake Balboa Location
  • Built in 2019 - Not Subject to Rent Control
  • Expansive 4-Bed Townhome Units
  • Two (2) Tri-Level Duplexes Containing Four (4) Units Total
  • Eight (8) Parking Spaces
  • Private Front & Back Yards

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 16753 Sherman Way in Van Nuys, California. The subject property is situated in a good Lake Balboa location on the north side of Sherman Way, east of Balboa Boulevard.
Lake Balboa is a residential neighborhood in Van Nuys, on the west side of the US-405 Freeway. This area is bordered by the Van Nuys Airport to the north and its namesake outdoor space to the south. The Lake Balboa/Anthony C. Beilenson Park is part of the larger Sepulveda Basin Recreation Area & Wildlife Reserve. Visitors of this park enjoy hiking or biking along the many trails, peddle boating or fishing at the lake, visiting the wildlife preserve, walking through the Japanese Garden, participating in the Woodley Park Archery Range or Van Nuys Golf Course, skating at Pedlow Skate Park, watching dogs at the Sepulveda Basin Off-Leash Dog Park, visiting the Balboa Sports Center, or walking along the LA River. All of these outdoor recreation areas are located adjacent to each other. Residents of the subject property enjoy the dominant access to commercial corridors on Sherman Way and Balboa Boulevard. Tenants can take a short five (5) minute walk to visit Oros Bakery & Pizza, Tacos Corona, In-N-Out Burger, Mamas Donuts, Lees Sandwiches, and Kao Hom Thai Cuisine.
Built in 2019, this offering is not subject to rent control and consists of two (2) tri-level duplexes. The property has an incredible unit mix of four (4) four-bedroom/ four-bathroom townhome units, two (2) of which have access to a private backyard. All of the units have near identical floorplans with the ground levels containing one (1) bedroom and private garages. The second levels contain the main living areas of the kitchens, dining rooms, and living rooms. The third levels house the remaining three (3) bedrooms, including the master suite. Each unit is spacious and bright with open floorplans and plenty of windows letting in natural light. The kitchens feature quartz countertops, a large kitchen sink, and stainless steel appliances including dishwashers, microwaves, gas stoves, and refrigerator/freezers with ice makers. These expansive townhomes come fully equipped with central HVAC and in-unit stackable washer/dryers. Each unit features hardwood floor throughout and tons of built-in storage, including walk-in closets. Although the property consists of two (2) duplexes, each unit is separate, private and luxurious. The front two (2) units have access to the quaint, grassy front yard while the back two (2) units are each connected to a private, grassy backyard. There are five (5) garage parking spaces and room for three (5) additional cars in uncovered parking areas, therefore each unit has two (2) private parking spaces.
Ideally positioned in a good Lake Balboa location, this offering presents a high cash flowing 2019 build fourplex free of rent control with an incredible unit mix.

Exclusively Listed By

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