4535 Murietta Avenue

    Sherman Oaks, CA 91423
    • $4,750,000
    • STATUS: Active
    • ON SITE: 113 days
    • ID#: 19440204
    UPDATED: 38 min ago
    $4,750,000
    • 0
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,002
      SQFT
    • $396
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    We are pleased to present this beautifully remodeled 13-unit building located at 4535 Murietta Avenue, Sherman Oaks, California. Built in 1965 and renovated in 2018, the offering consists of 3- One bedroom / One bathroom units, 9- Two bedroom / Two bathroom units, and 1- Two bedroom / One bathroom unit. The Property has undergone significant renovations and upgrades within the past year and a half including 5 completely turned over units, 100% permitted and completed seismic retrofit work, repaint of the entire property, upgraded all exterior lighting, complete re-landscaping, upgraded roof, etc. This property, offered at a true 4.17% CAP rate, allows a rare opportunity for an investor to buy a turn-key property in an excellent Sherman Oaks location, that still allows for over 20% of rental upside over time. With the great income the property brings in, an investor would need an estimated 40% down payment ($1,900,000) in order to get a fully amortized loan.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-26T21:43:10.433. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/92333381

    4535 Murietta Avenue Sherman Oaks, CA 91423

    • Price: $4,750,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: 19440204
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    12,002
    SQFT
    $396
    $/SQFT
    1965
    Built
    Neighborhood:
    SO - Sherman Oaks
    County:
    Los Angeles
    Area:
    SO - Sherman Oaks
    Property Description
    We are pleased to present this beautifully remodeled 13-unit building located at 4535 Murietta Avenue, Sherman Oaks, California. Built in 1965 and renovated in 2018, the offering consists of 3- One bedroom / One bathroom units, 9- Two bedroom / Two bathroom units, and 1- Two bedroom / One bathroom unit. The Property has undergone significant renovations and upgrades within the past year and a half including 5 completely turned over units, 100% permitted and completed seismic retrofit work, repaint of the entire property, upgraded all exterior lighting, complete re-landscaping, upgraded roof, etc. This property, offered at a true 4.17% CAP rate, allows a rare opportunity for an investor to buy a turn-key property in an excellent Sherman Oaks location, that still allows for over 20% of rental upside over time. With the great income the property brings in, an investor would need an estimated 40% down payment ($1,900,000) in order to get a fully amortized loan.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 4.17 Gross Multiplier 15.52 Gross Operating Income 291593.00 Improvements Amount 285176 Land Value 68209 Laundry YN Yes Net Operating Income 198101.00 Special Listing Conditions Standard Total Expenses 99133.00 Zoning Lar3

    Listing provided courtesy of Filip Niculete of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-26T21:43:10.433. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024