14825 Magnolia Blvd Sherman Oaks, CA 91403-1319

Property Details for 14825 Magnolia Blvd

Year built

1953

Construction

WOOD

Lot size

0.25 lot acres

Property size

7,632 SF

Zone code

LAR3

Property type

Apartment buildings

APN

2249-021-023

APU

2249021023

Description

This exceptional investment opportunity presents an 11-unit apartment building ideally situated in the highly desirable Sherman Oaks neighborhood of Los Angeles, California. Located at 14825 Magnolia Blvd, zip code 91403, this property boasts a prime location near an abundance of shopping, dining, and entertainment venues. The property comprises two buildings, each two stories high, totaling 7,632 square feet of rentable space on a substantial 10,984 square foot lot. The unit mix includes three two-bedroom, one-bathroom units and eight one-bedroom, one-bathroom units, averaging 693 square feet each. Built in 1953, the property is zoned LAR3, offering potential for future development. The current asking price is $2,450,000, representing a compelling price per door of $222,727 and a 4.82% capitalization rate. This value-add opportunity presents significant upside potential, with an estimated 39% increase in rental income achievable through strategic improvements. The property's location within a strong rental market, coupled with the potential to add 2-3 Accessory Dwelling Units (ADU's) subject to city planning approval, makes this a truly unique and attractive investment prospect. This rarely available asset offers a savvy investor the chance to acquire a well-positioned multifamily property in a thriving Los Angeles market.