13506 Rye StLos Angeles, CA 91423

This 14-unit apartment building in Sherman Oaks, CA offers a compelling investment opportunity. Built in 1959, the property boasts 11,156 square feet on a 13,107 sq ft lot, with a mix of studio, one-, two-, and three-bedroom units featuring modern appliances and finishes. The building benefits from a 100% occupancy rate, generating a NOI of $210,386 and a 4.25% cap rate (4.79% pro-forma). Recent improvements include a completed soft-story retrofit, new exterior paint, new windows, and new front entry doors. The property also features a vibrant courtyard with a picnic area, on-site laundry facilities, and is master-metered for gas and individually metered for electricity. Its prime Sherman Oaks location, close to Ventura Boulevard, the Sherman Oaks Galleria, and major freeways, adds significant value. The property is zoned LAR3 and has copper plumbing (buyer to verify). The potential to add an ADU further enhances its investment potential. This well-maintained building presents a strong return on investment in a highly desirable location. The asking price is $4,950,000, or $353,571 per unit.