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Multifamily

14941 Burbank Blvd

14941 Burbank Blvd, Sherman Oaks, CA 91411

Listing Price: $4,195,000

Cap Rate
3.63%
Number of Units
14
Price/Unit
$299,643
Price/Gross SF
$351.90
Gross SF
11,921

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 14941 Burbank Boulevard, a 14-unit multifamily property located in Sherman Oaks, one of the most sought-after neighborhoods of the San Fernando Valley. Current rents sit approximately 42% below market levels, allowing a new owner the potential to improve income significantly. Select units have already been upgraded with new wood flooring, new kitchen cabinets, new granite countertops, new ceiling fans, and fully remodeled bathrooms. Constructed in 1962, the building features an attractive unit mix with mostly two-bedroom apartments. The central courtyard holds a sparkling swimming pool, while tenants also enjoy ample covered parking. On-site laundry facilities offer an additional stream of income to the landlord as well. Located near the intersection of Burbank Boulevard and Sepulveda Boulevard, tenants enjoy convenient access to the 405 Freeway just blocks away. Several restaurants and retail destinations are within one mile, including Target, Costco, LA Fitness, Staples, Petco, and Ralphs. The Sepulveda Basin Recreation Center, featuring The Japanese Garden and two golf courses, is just one half-mile west of the building.

Investment Highlights

  • Excellent Unit Mix -- Mostly Two-Bedroom Apartments
  • Substantial Rent Upside -- Opportunity to Increase Income by Approximately 42%
  • Select Units Upgraded with Granite Countertops, Wood Flooring, New Cabinets, New Ceiling Fans, and Remodeled Bathrooms
  • Current Rents Average Only $1.83 per Square Foot While Similar Properties Have Been Achieving $2.17-$2.93 per Square Foot
  • Situated in One of the Most Desirable Cities of the San Fernando Valley
  • Sherman Oaks Features One of the Highest Average Incomes in the Valley at Over $138,000 Annually
  • Great Visibility Along Major Valley Corridor

Exclusively Listed By

Multifamily

14941 Burbank Blvd

Listing Price: $4,195,000

Cap Rate
3.63%
Number of Units
14
Price/Unit
$299,643
Price/Gross SF
$351.90
Gross SF
11,921

Investment Highlights

  • Excellent Unit Mix -- Mostly Two-Bedroom Apartments
  • Substantial Rent Upside -- Opportunity to Increase Income by Approximately 42%
  • Select Units Upgraded with Granite Countertops, Wood Flooring, New Cabinets, New Ceiling Fans, and Remodeled Bathrooms
  • Current Rents Average Only $1.83 per Square Foot While Similar Properties Have Been Achieving $2.17-$2.93 per Square Foot
  • Situated in One of the Most Desirable Cities of the San Fernando Valley
  • Sherman Oaks Features One of the Highest Average Incomes in the Valley at Over $138,000 Annually
  • Great Visibility Along Major Valley Corridor

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 14941 Burbank Boulevard, a 14-unit multifamily property located in Sherman Oaks, one of the most sought-after neighborhoods of the San Fernando Valley. Current rents sit approximately 42% below market levels, allowing a new owner the potential to improve income significantly. Select units have already been upgraded with new wood flooring, new kitchen cabinets, new granite countertops, new ceiling fans, and fully remodeled bathrooms. Constructed in 1962, the building features an attractive unit mix with mostly two-bedroom apartments. The central courtyard holds a sparkling swimming pool, while tenants also enjoy ample covered parking. On-site laundry facilities offer an additional stream of income to the landlord as well. Located near the intersection of Burbank Boulevard and Sepulveda Boulevard, tenants enjoy convenient access to the 405 Freeway just blocks away. Several restaurants and retail destinations are within one mile, including Target, Costco, LA Fitness, Staples, Petco, and Ralphs. The Sepulveda Basin Recreation Center, featuring The Japanese Garden and two golf courses, is just one half-mile west of the building.

Exclusively Listed By

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