Bought with General NONMEMBER • NONMEMBER MRML
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Key Details
Sold Price $930,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 3,396 sqft
Price per Sqft $273
MLS Listing ID CRSR24159057
Sold Date 10/04/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1940
Lot Size 6,906 Sqft
Property Description
This five unit asset is located in the annexed neighborhood of Sherman Oaks (formerly Van Nuys) and has HUGE upside rent potential. Because this area is undergoing revitalization, the property's future value may also be enhanced as a result. Located close to transportation corridors, there is easy freeway access, only minutes to the Encino-Balboa Recreation facility, as well as Woodley Lake. There are abundant jogging paths, soccer fields and paddle boats which makes this location a high demand area for tenants. The building itself has a unit mix of one 2-bedroom unit and four 1 bedroom units. There is off-street parking at the back of the building for added tenant convenience. Tenants have been in the property long term and rents simply have not been raised. The building is fully leased and there are no vacant units. The property is a prime investment opportunity for those looking to capitalize on its potential. This is an excellent canvas for the investor with creativity and imagination to unlock the hidden value in this jewel.
Location
State CA
County Los Angeles
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility, Other
Exterior
View None
Building
Water Public
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