$ 10,450,000
14556 Magnolia Boulevard Sherman Oaks (los Angeles), CA 91403
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$ 10,450,000
Est. payment | /mo
39,198 SqFt
$ 10,450,000
Est. payment | /mo
39,198 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 39,198 sqft
Price per Sqft $266
MLS Listing ID CL24427717
HOA Y/N No
Year Built 1961
Lot Size 0.574 Acres
Acres 0.57
Property Description
***PRICE REDUCED ADDITIONAL $500,000*** We are pleased to present the Terraces at the Summit, a 50-unit value add apartment building located at 14556 Magnolia Boulevard in Sherman Oaks, California. Current rents are approximately 22% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. Built in 1961, the property features a favorable unit mix consisting of (17) studio/one-bathroom units and (33) one-bedroom/one-bathroom units. Units feature wood flooring, granite countertops, dishwasher, microwave and floor to ceiling living room windows (select units). Property amenities include secured access, pool, grill/picnic area, lounge, fitness center, laundry facility, elevator and gated subterranean parking. The 39,198 square foot building sits on a large 0.57 acre lot that is LAR3 zoned. The Terraces at the Summit is located in Sherman Oaks, one of the best rental submarkets in Los Angeles County with historically low vacancy rates. The property is in close proximity to grocery stores, restaurants and retail on Van Nuys Boulevard as well as vibrant cafes, fine dining, high-end chic retail and nightlife on nearby Ventura Boulevard. The property is conveniently located near the 405 and 101 freeways and just a short d
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Type Covered
Building
New Construction No
Others
Tax ID 2263035023
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Matthew Ziegler • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "