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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 7,195,000

Est. payment | -/mo

50 Beds

50 Baths

28,285 SqFt

Save

$ 7,195,000

Est. payment | -/mo

Save

50 Beds

50 Baths

28,285 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 28,285 sqft

Price per Sqft $254

MLS Listing ID 26677175

Bedrooms 50

HOA Y/N No

Year Built 1985

Lot Size 0.549 Acres

Property Description

Because the property was constructed in 1985, it is not subject to restrictive Los Angeles rent control. Instead, an owner is allowed to implement higher annual rent increases under California AB 1482. This could allow the investment's income to maintain pace with future rent growth, ensuring that the asset's cash flow is maximized. Available at an already attractive 6.69% current CAP Rate and 9.28 GRM, the property offers income growth through both rent upside and expansion of the existing RUBS collections. The building's excellent unit mix, consisting primarily of two- bedroom apartments, coupled with amenities such as central air/heat, stainless steel appliances, and ample garage parking, makes it a desirable asset for tenants and landlords alike. The building is not on the Los Angeles Department of Building and Safety's seismic retrofit list (Buyer to verify), allowing an investor to avoid an otherwise burdensome capital expense. The on- site garage parking area can accommodate 48 vehicles, while street parking is more readily available because the building is surrounded primarily by single-family residences. Located on a large corner lot along one of the San Fernando Valley's major streets, the property provides excellent visibility when attracting prospective tenants. Residents enjoy convenient access to the 210 Freeway, as well as numerous public transportation depots in the immediate area. The upcoming East San Fernando Valley Light Rail Transit Project is planned to start in Sylmar and extend the entire distance south to the Metro Orange Line, connecting the neighborhood to the majority of the Los Angeles metro area.

Location

State CA

County Los Angeles

Area Syl - Sylmar

Zoning LARD1.5

Interior

Fireplace No

Exterior

Total Parking Spaces 48

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 2513026028

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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13266 Foothill BLVD Sylmar, CA 91342