4188 Greenbush Ave Los Angeles, CA 91423

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.