15050 Moorpark StLos Angeles, CA 91403

  • Residential income properties
  • 19,482 SF
For Sale
$7,950,000 View listing

Property Details for 15050 Moorpark St

Year built
1984
Construction
WOOD
Lot size
0.41 AC
Property size (Sq ft)
19,482 SF
Zone code
LAR3
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
2264-016-050
APU
2264016050

Description

This exceptional 25-unit apartment building presents a compelling value-add investment opportunity in the desirable Sherman Oaks neighborhood of Los Angeles, California. Located at 15050 Moorpark Street, this two-story, garden-style building, constructed in 1984, sits on a 17,666 square foot lot and encompasses 19,482 square feet. The property features a mix of 24 one-bedroom, one-and-a-half-bathroom units and one two-bedroom, one-and-a-half-bathroom unit. Amenities include a semi-subterranean parking garage with 36 spaces, an interior courtyard with a spa, in-unit fireplaces, and a shared laundry facility. The building offers gated access and central air conditioning. Currently, rents reflect a significant loss-to-lease, presenting a substantial opportunity for increased revenue through renovations and market-rate adjustments. The property's prime location, just north of Ventura Boulevard, provides easy access to shopping, dining, and entertainment options, as well as major freeways (101 and 405), connecting residents to key employment centers in the San Fernando Valley. The asking price is $7,950,000, representing a price per unit of $318,000, a price per square foot of $408.07, a current NOI of $411,387, and a pro-forma NOI of $526,185. The property's current cap rate is 5.17%, with a pro-forma cap rate of 6.62%. The property is offered fee simple. This is a rare opportunity to acquire a non-rent-controlled asset in a highly sought-after location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,993,117
    6.5%
    $6,455,185
    7%
    $5,994,100
  • Comparable approach

    Method
    Valuation
    Relative Method
    $5,742,280
    Geo Method
    $5,742,280
  • Alternative Use

    Use
    Valuation
    Residential
    $6,455,185
    Hospitality
    $5,912,914
    Educational
    $4,919,476
    Medical
    $5,088,664
    Retail
    $7,652,518
15050 Moorpark St, Los Angeles, California

Location Insight

City
Sherman Oaks
County
Los Angeles
State
California
Latitude
34.1537
Longitude
-118.461
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$42,063
$977,323
$2,271,113
$3,248,436
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