13444 Moorpark St Sherman Oaks, CA 91423-3810

This exceptional 16-unit apartment building presents a compelling value-add investment opportunity in the desirable Sherman Oaks neighborhood of Los Angeles, CA. The property, built in 1986, boasts 13,682 square feet on an 11,954 square foot lot and features a mix of one- and two-bedroom units. The building offers 20 parking spaces, a desirable amenity in this location. The current asking price is $5,150,000, translating to $321,875 per unit and a price per square foot of $376.41. The property's current Net Operating Income (NOI) is $282,295, yielding a 5.48% capitalization rate. A pro-forma NOI of $318,014 projects a 6.18% capitalization rate, reflecting significant upside potential through value-add improvements. The building features a two-story design, gated access, and in-unit fireplaces, enhancing its appeal to renters. Its location near Ventura Boulevard provides convenient access to shopping, dining, and entertainment options. Proximity to the 101 and 405 freeways ensures easy commutes to major employment centers in the San Fernando Valley. This fee-simple ownership opportunity is ideal for investors seeking to capitalize on the strong rental market and potential for increased profitability through renovations and lease-up. The property's current rents offer a significant opportunity to increase income through market rate adjustments. The building's features include central air conditioning, spacious floor plans, and underutilized interior courtyards.