Listing Agency: Marcus & Millichap Show Phone

Listed By: Roderick 'Rick' Raymundo Show Phone

Source: Exprealty

Added: Jul 30, 2025 Changed: Oct 9 Last Checked: Oct 16 at 9:21AM

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Investment Insights

Based on property information with market context.

This six-unit apartment building in Sherman Oaks includes apartment residences and storage units that contribute additional rental income. Architectural plans are available for two potential ADUs, subject to applicable review and verification. The property carries a 6.58% in-place cap rate.

The building is near Van Nuys Boulevard and Burbank Boulevard, with access to Sherman Oaks, Studio City, Encino, and Valley Village. Costco and Target are within a short drive, Westfield Fashion Square is 1.7 miles away, and Ventura Boulevard’s boutiques and dining are less than two miles south. The property does not appear on the Los Angeles Department of Building & Safety seismic retrofit list; buyer to verify.

Key Highlights

• Six‑unit multifamily apartment building in Sherman Oaks
• 6.58% in‑place cap rate
• Storage units provide an additional rental‑income component

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,307

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,486,140 $1.5M

Cap Rate 7%

$1,061,529 $1.1M

Cap Rate 9%

$825,633 $825.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,618 SF

Gross rent

$146.9K $31.80/SF

− Vacancy

−$11.7K −$2.54/SF

EGI

$135.1K $29.26/SF

− OpEx

−$60.8K −$13.17/SF

NOI

$74.3K $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%

$1,486,140

Cap Rate 7%

$1,061,529

Cap Rate 9%

$825,633

Alternative Uses

Best Use

Apartment 5plus

$1.06M

$928.8K – $1.24M (±1% cap)

NOI $74,307 @ 7.0% cap · market cap 4.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.47M

$2.16M – $2.88M (±1% cap)

NOI $173,072 @ 7.0% cap · market cap 10.85%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Food Market Grocery & Convenience Store (Bike/Boat/Book/etc) Store Pet Store Fish Market Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Location Intelligence

Trade Area within ½ mile

1,521

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with storage units and architectural plans for two potential ADUs.

Where is this apartment building located?

The property is located at 5707 Tilden Ave Sherman Oaks, CA.

What is the asking price?

The asking price for this property is $1,595,000.

What are key features of this property?

This property features: Six‑unit multifamily apartment building in Sherman Oaks; 6.58% in‑place cap rate; Storage units provide an additional rental‑income component