13506 Rye St Sherman Oaks, CA 91423-3103
- Apartment buildings
- 11,156 SF
- 0.30 lot acres
Jan 27, 2020
Current Use by Public Records
- Apartment buildings
Property Details for 13506 Rye St
- Year built
- 1959
- Construction
- WOOD
- Lot size
- 0.30 lot acres
- Property size
- 11,156 SF
- Zone code
- LAR3
- Property type
- Apartment buildings
- APN
- 2360-014-026
- APU
- 2360014026
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,565,000
- ML approach
- $4,535,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,977,000
Market price range: $2.45M - $4.98M
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Location Insight
- Map
- Local Demand
- City
- Sherman Oaks
- County
- Los Angeles
- State
- California
- Longitude
- -118.427
- Latitude
- 34.151
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
