19406 Gilmore St Reseda, CA 91335-5715

Property Details for 19406 Gilmore St

Year built

1958

Construction

WOOD

Lot size

0.16 lot acres

Property size

4,294 SF

Zone code

LAR3

Property type

Apartment buildings

APN

2131-026-022

APU

2131026022

Description

This exceptional 6-unit apartment building, located at 19406 Gilmore Street, Los Angeles, CA 91335, presents a compelling investment opportunity. Built in 1958, this two-story building boasts 4,294 square feet of net rentable space situated on a 7,136 square foot lot. The property features a desirable unit mix: four 1-bedroom, 1-bathroom units and two 2-bedroom, 1-bathroom units. Currently generating a NOI of $51,972, with a pro-forma NOI of $86,940, this property offers significant upside potential due to below-market rents, representing over 50% rental growth opportunity. Individual gas and electric meters are in place, along with recently updated electrical panels. The property is conveniently located in the heart of the San Fernando Valley, close to Pierce College, Warner Center, and Westfield Topanga Shopping Mall, providing easy access to major freeways and amenities. Six on-site parking spaces are available for residents. The property is zoned LAR3. The asking price is $1,150,000, translating to $267.82 per square foot and $191,666.67 per unit. This offering presents a rare chance to acquire a well-located, value-add multifamily property with substantial potential for increased profitability. Note that this property may be purchased in conjunction with a separate 16-unit building located nearby.

Location Insight

City

Reseda

County

Los Angeles

State

California

Longitude

-118.557

Latitude

34.1872

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments