13059 Oxnard St Los Angeles, CA 91401

Property Details for 13059 Oxnard St

Year built

1965

Property size

14,936 SF

Property type

Apartment buildings

Description

This exceptional 17-unit apartment building, located at 13059 Oxnard Street in Los Angeles, CA 91401, presents a compelling value-add investment opportunity. The property, a three-story Class B building constructed in 1965, boasts 14,936 square feet and offers a diverse unit mix including four one-bedroom/one-bathroom, ten two-bedroom/one-and-a-half-bathroom, one three-bedroom/one-and-a-half-bathroom, and two studio units. Many units feature recently updated kitchens and bathrooms with modern countertops, bright white cabinets, and stainless steel appliances. The unique split-level design of the two and three-bedroom units adds to their appeal. Residents enjoy convenient onsite amenities including laundry facilities, parking for 15 cars, a swimming pool, and a landscaped courtyard. The property is situated in the desirable Valley Glen neighborhood, just one block from Valley Glen Community Park, offering a family-friendly environment with parks, restaurants, and well-maintained buildings. The building benefits from a new roof and completed seismic upgrades. The current NOI is $200,187, with a pro-forma NOI of $267,424, representing a significant upside potential. The asking price is $3,750,000, translating to a current cap rate of 5.34% and a pro-forma cap rate of 7.13%. Assumable financing is available. This property represents a rare opportunity, having not been on the market for over 20 years.