Updated Apartment
13535 Moorpark St, Sherman Oaks, CA 91423
For Sale
$6,500,000
The property is one block from Ventura Boulevard and has improvements to its apartments, building systems, and outdoor seating area.
Property Size17,654 SF
Days on Market21
Property Features for 13535 Moorpark St
General Information
Standard status
Size
Property subtype
Additional Details
Road Access
Amenities
outdoor seating area
laundry room
Outstanding Sherman Oaks Location — One Block from Ventura Boulevard
Several Recent Improvements, Including Electrical Panel Replacement, Plumbing Upgrades, New Water Heaters, and New Landscaping
All Seismic Retrofit Repairs Completed (Buyer to Verify)
Heavily Upgraded Asset — 75% of Unit Interiors Remodeled in Recent Years
Excellent Repositioning Opportunity — Potential to Recapture Approximately 21% in Rent Upside
Large 17,026 Square Foot Corner Lot that Spans Block-to-Block
Walking Distance from Westfield Fashion Square, One Mile from Erewhon, Half-Mile to Studio City
Deemed "Very Walkable" with a Walk Score of 88
Building Details
Building Size
Units
Listing Agency:
Encino Office
Listed By:
Rick E. Raymundo
(213) 943-1855
Source:
Marcusmillichap
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 8 at 5:43PM
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 Encino Office
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Investment Insights
Based on property information with market context.
This 1957 apartment building sits on a corner parcel extending between blocks, with frontage on Moorpark Street, Allott Avenue, and Rye Street. Seismic retrofit work is described as complete, subject to buyer verification. Electrical panels, plumbing, landscaping, water heaters, the laundry room, and an outdoor seating area have also received improvements. Apartment interiors have been refurbished in 75% of the units.
Ventura Boulevard is one block away, and Westfield Fashion Square is within walking distance. The Shops at Sportsmen’s Lodge, a 93,000-square-foot retail development that includes an Erewhon location, is one mile from the property.
Ventura Boulevard is one block away, and Westfield Fashion Square is within walking distance. The Shops at Sportsmen’s Lodge, a 93,000-square-foot retail development that includes an Erewhon location, is one mile from the property.
Key Highlights
- Apartment interiors upgraded in 75% of units
- Corner parcel with frontage on Moorpark Street, Allott Avenue, and Rye Street
- Seismic retrofit repairs completed, subject to buyer verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,067
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,681,340
$5.7M
Cap Rate 7%
$4,058,100
$4.1M
Cap Rate 9%
$3,156,300
$3.2M
Market Conditions
NOI Build-Up for 17,654 SF
Gross rent
$561.4K $31.80/SF
− Vacancy
−$44.9K −$2.54/SF
EGI
$516.5K $29.26/SF
− OpEx
−$232.4K −$13.17/SF
NOI
$284.1K $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%
$5,681,340
Cap Rate 7%
$4,058,100
Cap Rate 9%
$3,156,300
Alternative Uses
Best Use
Apartment 5plus
$4.06M
$3.55M – $4.73M
NOI $284,067 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.45M
$8.27M – $11.03M
NOI $661,632 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,944
Businesses Nearby
Explore this area
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
$1,323,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles County, CA
Properties on Market for Apartment buildings in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property is one block from Ventura Boulevard and has improvements to its apartments, building systems, and outdoor seating area.
Where is this apartment building located?
The property is located at 13535 Moorpark St Sherman Oaks, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Apartment interiors upgraded in 75% of units; Corner parcel with frontage on Moorpark Street, Allott Avenue, and Rye Street; Seismic retrofit repairs completed, subject to buyer verification
