For Sale
$10,450,000

14556 Magnolia BlvdLos Angeles, CA 91403

50-unit value-add opportunity, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 50-unit apartment building presents a compelling value-add investment opportunity in the highly desirable Sherman Oaks submarket of Los Angeles. The property, boasting 39,198 square feet on a 0.57-acre lot, features a mix of 17 studio/one-bathroom and 33 one-bedroom/one-bathroom units. Current rents are significantly below market, offering substantial upside potential for a new owner to renovate and increase income. Built in 1961, the building is zoned LAR3 and includes desirable amenities such as a secured access, swimming pool, grilling/picnic area, lounge, fitness center, laundry facilities, elevator, and gated subterranean parking. Units feature attractive finishes including wood flooring, granite countertops, dishwashers, microwaves, and floor-to-ceiling living room windows in select units. The property's prime location near the 405 and 101 freeways provides easy access to major employment centers in Woodland Hills, Encino, North Hollywood, Burbank, and Glendale. Furthermore, its proximity to shopping, dining, and entertainment options on Van Nuys and Ventura Boulevards adds to its appeal. The current Net Operating Income (NOI) is $597,759, with a pro-forma NOI projected at $782,798, reflecting a 5.72% current cap rate and a pro-forma cap rate of 7.49%. The asking price is $10,450,000, representing a price per unit of $209,000 and a price per square foot of $266.60. This is a rare opportunity to acquire a well-located, value-add multifamily property in one of Los Angeles's most sought-after neighborhoods. The property's address is 14556 Magnolia Blvd, Los Angeles, CA 91403, APN 2263-035-023.

Highlights

  • 50-unit value-add multifamily property in desirable Sherman Oaks, CA.
  • Favorable unit mix of 17 studios/1 bath and 33 one-bedroom/one-bath units.
  • Units feature wood flooring, granite countertops, and select units have floor-to-ceiling windows.
  • Amenities include secured access, pool, grilling area, lounge, fitness center, laundry, elevator, and gated subterranean parking.
  • Excellent location near the 405 and 101 freeways, providing easy access to major employment centers.

Property Details for 14556 Magnolia Blvd

Property type
Apartment buildings
Square Feet
39,198 SF
Year Built
1961
Buildings
1
Lot Size (sq. ft)
24,829 SF
Units
50

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1646054
Longitude
-118.450647
14556 Magnolia Blvd, Los Angeles, California

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14556 Magnolia Blvd
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