Bought with Anngel Benoun • Engel & Volkers Encino
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Key Details
Sold Price $2,150,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 11,004 sqft
Price per Sqft $195
MLS Listing ID CRSR24134532
Sold Date 10/02/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1958
Lot Size 0.375 Acres
Property Description
Great "potential plus" 14 unit West Valley apartment complex lies on a desirable cul-de-sac street off Mason and Vanowen in the suburb of Winnetka, north of Warner Center in the San Fernando Valley represents one of the most economic deals on the market. A 2 story, 2 building complex built in 1958, is a great value add opportunity with rents that are almost 50% below market. 50/50 1 and 2 bedroom mix. Priced to sell, this asset can only increase in cash flow with improved management, and exterior upgrades. Ample parking in the rear for 14 spaces with lots of street parking. Property offers laundry on site, courtyard, and open grassy areas for great curb appeal. This location sits near Warner Center employment hub, future Los Angeles Rams headquarters and training facility and major employers such as Kaiser, Blue Shield, Anthem, Farmers Insurance and Universal Music. Every convenience including banking, grocery shopping, to Crate & Barrel, Target and AMC theaters,Westfield Mall, Nordstrom, Neiman Marcus, and Cheesecake Factory, making the subject property an affordable option for employees in this market sector.
Location
State CA
County Los Angeles
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility
Exterior
Parking Type Other
Building
Lot Description Cul-De-Sac, Other
Water Public
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