13060 Burbank Blvd Los Angeles, CA 91401

This 19-unit apartment building in Sherman Oaks, CA presents a compelling value-add investment opportunity. Located at 13060 Burbank Blvd, this two-story, 15,295 square foot building sits on a 15,825 square foot lot (APN 2345-006-001). Built in 1958, the property boasts a mix of studio, one-bedroom, and two-bedroom units, including one vacant unit allowing for immediate renovation and rent increases. Current amenities include secured entry, a swimming pool, on-site laundry, and parking (14 single, 4 tandem, some gated). Recent improvements include a new roof (2018) and completed seismic retrofit (2022). Select units feature upgraded finishes, kitchens, and appliances. The property offers significant upside potential through further renovations, implementing RUBS (renters utility billing), and the potential addition of three Accessory Dwelling Units (ADUs), subject to buyer confirmation. The strong location, near Los Angeles Valley College (currently undergoing a major renovation), Ventura Boulevard, and various amenities, ensures high demand and rental income. The asking price is $4,550,000, representing a current NOI of $251,582 (5.53% cap rate) and a pro-forma NOI of $561,600 (9.39% pro-forma cap rate). The price per unit is $239,473.68 and the price per square foot is $297.48. This property offers investors a chance to capitalize on a thriving market and achieve substantial returns.