Renovated 9-Unit Apartment
For Sale
$3,198,888
14218 Sylvan Street, Sherman Oaks, CA 91401
Well-maintained, fully occupied 9-unit building with renovated interiors and a balanced 1- and 2-bedroom mix.
Property Size8,957 SF
Lot Size0.20 Acres
Price / SF$357.14
Days on Market96
Property Features for 14218 Sylvan Street
General Information
Standard status
Active
Size
8,957 SF
Total Parking Spaces
13
Lot size
0.20 Acres
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$171,085
Additional Details
Highway Access
Yes
Multifamily Units
9
Amenities
Curbs, Street Lights, Sidewalks
Wall/Window Unit(s)
Dining Room
Building Details
Building Size
8,957 SF
Year Built
1964
Buildings
1
Stories
3
Listing Agency:
Prudential California Realty
Listed By:
Sarkis Kalinyan · License #01294788
(818) 402-3593
Source:
Evrealestate
Added: Jun 2
Changed: Aug 31
Last Checked: Sep 5 at 3:45AM
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 Prudential California Realty
Investment Insights
Based on property information with market context.
This well-maintained 9-unit apartment building offers a desirable mix of (4) 2 bed/2 bath units and (5) 1 bed/1 bath units. The property sits on an 8,749 sq ft lot and provides approximately 8,957 rentable square feet. Extensive upgrades have been completed throughout, including granite and sizar stone countertops, stainless steel appliances, exterior improvements, and painting, along with fully renovated interiors.
The building is conveniently located near the 405, 101, and 170 freeways, supporting straightforward regional access. It is also positioned next to Citi Hall Court House Federal Buildings and is just minutes from Ventura Boulevard, with nearby public transportation offering access to Encino, Woodland Hills, North Hollywood, Burbank, Hollywood, and Downtown Los Angeles.
The unit mix is designed to support longer-term occupancy and help minimize turnover, and the property is currently fully occupied with all units leased. With the renovations already completed, the building presents a practical turnkey option for an investor or operator seeking a stabilized multifamily asset with updated finishes and strong day-to-day leasing continuity.
The building is conveniently located near the 405, 101, and 170 freeways, supporting straightforward regional access. It is also positioned next to Citi Hall Court House Federal Buildings and is just minutes from Ventura Boulevard, with nearby public transportation offering access to Encino, Woodland Hills, North Hollywood, Burbank, Hollywood, and Downtown Los Angeles.
The unit mix is designed to support longer-term occupancy and help minimize turnover, and the property is currently fully occupied with all units leased. With the renovations already completed, the building presents a practical turnkey option for an investor or operator seeking a stabilized multifamily asset with updated finishes and strong day-to-day leasing continuity.
Key Highlights
- Fully occupied 9‑unit apartment building with all units currently leased
- Unit mix: (5) 1 bed/1 bath and (4) 2 bed/2 bath
- Approximately 8,957 rentable SF on an 8,749 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$144,125
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,882,500
$2.9M
Cap Rate 7%
$2,058,929
$2.1M
Cap Rate 9%
$1,601,389
$1.6M
Market Conditions
NOI Build-Up for 8,957 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$284.8K $31.80/SF
− Vacancy
−$22.8K −$2.54/SF
EGI
$262.0K $29.26/SF
− OpEx
−$117.9K −$13.17/SF
NOI
$144.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,882,500
Cap Rate 7%
$2,058,929
Cap Rate 9%
$1,601,389
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $144,125 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.59M
NOI $335,688 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 91401, CA
39,621
Population
15,785
Households
2.5
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
3.5 sq mi
ZIP Area
11,320
Density / Sq Mi
$75,933
Median Household Income
$40,119
Median Earnings
$1,800
Median Rent
$988,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained, fully occupied 9-unit building with renovated interiors and a balanced 1- and 2-bedroom mix.
Where is this apartment building located?
The property is located at 14218 Sylvan Street Sherman Oaks, CA.
What is the asking price?
The asking price for this property is $3,198,888.
What are key features of this property?
This property features: Fully occupied 9‑unit apartment building with all units currently leased; Unit mix: (5) 1 bed/1 bath and (4) 2 bed/2 bath; Approximately 8,957 rentable SF on an 8,749 SF lot
