13506 Rye StLos Angeles, CA 91423

Property Details for 13506 Rye St

Year built

1959

Construction

WOOD

Lot size

0.30 AC

Property size (Sq ft)

11,156 SF

Zone code

LAR3

Property type

Apartment buildings

APN

2360-014-026

APU

2360014026

Description

This 14-unit apartment building in Sherman Oaks, CA offers a compelling investment opportunity. Built in 1959, the property boasts 11,156 square feet on a 13,107 sq ft lot, with a mix of studio, one-, two-, and three-bedroom units featuring modern appliances and finishes. The building benefits from a 100% occupancy rate, generating a NOI of $210,386 and a 4.25% cap rate (4.79% pro-forma). Recent improvements include a completed soft-story retrofit, new exterior paint, new windows, and new front entry doors. The property also features a vibrant courtyard with a picnic area, on-site laundry facilities, and is master-metered for gas and individually metered for electricity. Its prime Sherman Oaks location, close to Ventura Boulevard, the Sherman Oaks Galleria, and major freeways, adds significant value. The property is zoned LAR3 and has copper plumbing (buyer to verify). The potential to add an ADU further enhances its investment potential. This well-maintained building presents a strong return on investment in a highly desirable location. The asking price is $4,950,000, or $353,571 per unit.

• CAP approach

  CAP return

  Valuation

  6%

  $4,004,476

  6.5%

  $3,696,440

  7%

  $3,432,408

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,288,209

  Geo Method

  $3,288,209

• Alternative Use

  Use

  Valuation

  Residential

  $3,696,440

  Hospitality

  $3,385,919

  Educational

  $2,817,045

  Medical

  $2,913,928

  Retail

  $4,382,070

Location Insight

City

Sherman Oaks

County

Los Angeles

State

California

Latitude

34.151

Longitude

-118.427

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].