4188 Greenbush Ave Los Angeles, CA 91423
- Apartment buildings
- 8,675 SF
- 0.18 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 4188 Greenbush Ave
- Year built
- 1964
- Lot size
- 0.18 lot acres
- Property size
- 8,675 SF
- Property type
- Apartment buildings
Description
This exceptional 10-unit apartment building presents a compelling value-add investment opportunity in desirable Sherman Oaks, CA. The property, built in 1964, boasts 8,675 square feet on a 0.18-acre lot and features a mix of unit types: seven 1-bedroom/1-bathroom units, one 1-bedroom/1.5-bathroom unit, and two studio units. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $129,295, representing a 4.20% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $180,499 and a 5.87% cap rate, reflecting the potential for substantial rent increases. Four units have already undergone extensive interior renovations. A soft story seismic retrofit has been completed. The property benefits from separate gas and electric meters for each unit, and an on-site laundry facility adds to the revenue stream. Located south of Ventura Boulevard, the building offers convenient access to shops, cafes, and major freeways (405 & 101). The asking price is $3,075,000, or $307,500 per unit. The property is offered fee simple. An existing loan of approximately $1,790,000 is in place.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.426
- Latitude
- 34.1465
