Five-Unit Apartment
New
For Sale
$1,950,000
13223 Moorpark St, Sherman Oaks, CA 91423
A remodeled main residence and four rear rentals form a varied residential income property.
Property Size3,684 SF
Price / SF$529.32
Days on Market4
Property Features for 13223 Moorpark St
General Information
Standard status
Active
Size
3,684 SF
Property subtype
MULTI_FAMILY
Additional Details
Road Access
Yes
Multifamily Units
5
Amenities
swimming pool
gated and secured
enclosed private yard
Building Details
Building Size
3,684 SF
Year Built
1961
Year Renovated
2022
Listing Agency:
Marcus & Millichap
Listed By:
Jeanette Monfared · License #00765098
Source:
Carolinakramer
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
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Investment Insights
Based on property information with market context.
The 3,684-square-foot property includes a main house and four rental units at the rear. The house was remodeled in 2019 and has two bedrooms and bathrooms, a living room with a fireplace, a den opening to a pool, and a kitchen with a breakfast nook. A separate gated entrance serves the rear units, including one remodeled unit that is vacant. The property was built in 1961, received a new roof in 2018, and underwent seismic retrofit work in 2022.
Located on Moorpark Street in Sherman Oaks, the corner lot has alley access to parking. The property is gated, and the rear alley is also identified as offering potential for future redevelopment.
Located on Moorpark Street in Sherman Oaks, the corner lot has alley access to parking. The property is gated, and the rear alley is also identified as offering potential for future redevelopment.
Key Highlights
- Five‑unit configuration: a main house plus four rental units
- 3,684 SF on a corner lot in Sherman Oaks
- Main house remodeled in 2019; two bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,279
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,185,580
$1.2M
Cap Rate 7%
$846,843
$846.8K
Cap Rate 9%
$658,656
$658.7K
Market Conditions
NOI Build-Up for 3,684 SF
Gross rent
$117.2K $31.80/SF
− Vacancy
−$9.4K −$2.54/SF
EGI
$107.8K $29.26/SF
− OpEx
−$48.5K −$13.17/SF
NOI
$59.3K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,185,580
Cap Rate 7%
$846,843
Cap Rate 9%
$658,656
Alternative Uses
Best Use
Apartment 5plus
$846.8K
$741.0K – $988.0K
NOI $59,279 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,068 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,883
Businesses Nearby
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Business Placement
Demographics for 91423, CA
32,635
Population
16,678
Households
2
Avg Household Size
40
Median Age
63%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
7,960
Density / Sq Mi
$112,119
Median Household Income
$66,538
Median Earnings
$2,239
Median Rent
$1,323,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A remodeled main residence and four rear rentals form a varied residential income property.
Where is this apartment building located?
The property is located at 13223 Moorpark St Sherman Oaks, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Five‑unit configuration: a main house plus four rental units; 3,684 SF on a corner lot in Sherman Oaks; Main house remodeled in 2019; two bedrooms and two bathrooms
