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Multifamily

13951 Moorpark St

13951 Moorpark St, Los Angeles, CA 91423

Listing Price: $11,850,000

Cap Rate
3.34%
Number of Units
34
Price/Unit
$348,529
Price/Gross SF
$290.43
Gross SF
40,801

Investment Overview

The New Yorker is a 34-unit value-add opportunity located in Sherman Oaks, an affluent neighborhood of the San Fernando Valley known for excellent rent growth and low vacancy rates. The property has a tremendous unit mix with over 82% of the apartments being two and three bedroom units. The apartments are extremely spacious with a great potential of raising the income as tenants vacate and owner upgrades units. The property is priced below replacement cost at $290 a sq. ft The subject property is one of only 30 properties in Sherman Oaks that are larger than 30 units located on or south of Moorpark Street. On average, there is less than one opportunity to acquire such a property in Sherman Oaks each year. The common areas include a swimming pool, central courtyard, sundeck, 34 gated parking spaces, elevator, and on-site laundry room (three washers/three dryers). Most units have private patios or balconies.

Investment Highlights

  • Prime Sherman Oaks Location on Moorpark- 34 Units
  • Excellent Unit Mix- Over 80% Two and Three Bedroom Units
  • Seismic Retrofit Completed
  • Community Amenity Package Includes: Covered/Gated Parking, Pool, Controlled Access, and On-Site Laundry
  • Significant Upside in Rents
  • Over 40,000 Square Feet of Improvements- Price at $290 Per Foot

Exclusively Listed By

Listing Price: $11,850,000

Cap Rate
3.34%
Number of Units
34
Price/Unit
$348,529
Price/Gross SF
$290.43
Gross SF
40,801

Investment Highlights

  • Prime Sherman Oaks Location on Moorpark- 34 Units
  • Excellent Unit Mix- Over 80% Two and Three Bedroom Units
  • Seismic Retrofit Completed
  • Community Amenity Package Includes: Covered/Gated Parking, Pool, Controlled Access, and On-Site Laundry
  • Significant Upside in Rents
  • Over 40,000 Square Feet of Improvements- Price at $290 Per Foot

Investment Overview

The New Yorker is a 34-unit value-add opportunity located in Sherman Oaks, an affluent neighborhood of the San Fernando Valley known for excellent rent growth and low vacancy rates. The property has a tremendous unit mix with over 82% of the apartments being two and three bedroom units. The apartments are extremely spacious with a great potential of raising the income as tenants vacate and owner upgrades units. The property is priced below replacement cost at $290 a sq. ft The subject property is one of only 30 properties in Sherman Oaks that are larger than 30 units located on or south of Moorpark Street. On average, there is less than one opportunity to acquire such a property in Sherman Oaks each year. The common areas include a swimming pool, central courtyard, sundeck, 34 gated parking spaces, elevator, and on-site laundry room (three washers/three dryers). Most units have private patios or balconies.

Exclusively Listed By

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