This Multifamily Property is Off-Market.

20200 Sherman Way
Winnetka, CA 91306 ·

98 Units · Multifamily For Sale

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Warner Palms Apartments

Price N/A Commission Split 1%
No. Units 98 Cap Rate 5.71%
Building Size 60,051 SF Gross Rent Multiplier 10.21
Property Type Multifamily Occupancy 98%
Property Sub-type Garden/Low-Rise Lot Size 93,349 SF
Property Use Type Investment
Listing ID: 17197871 Date Created: 06/10/2011 Last Updated: 12/05/2011

Description

Warner Palms is a 98 unit center courtyard apartment building located at 20200 Sherman Way in Winnetka, California. While the asset was built in 1964 as a motel, it was recently converted into apartments ­so is not subject to rent control. All 98 units have been renovated along with the common areas which include an elegant lobby, fitness center, community room, leasing office, a beautifully landscaped courtyard, and a swimming pool with new outdoor furniture. Additional amenities include controlled entrances, 24 hour video surveillance, and 168 secure gated parking spaces. The existing property is in good condition and is 98% occupied.

The property is situated in Winnetka on Sherman Way, one of the city' s main commercial thoroughfares. Winnetka is a district in the West San Fernando Valley region of the City of Los Angeles located west of Reseda, east of Canoga Park, south of Northridge, and north of Warner Center. The property is just minutes from fine dining, shopping, theaters, recreation and employment opportunities. A few of the area' s top employment centers are within 2 miles of the property including Peirce College and Warner Center. Cal State North Ridge employs over 1,000 people and is less than 5 miles away. Tenants of Warner Palms can easily walk to numerous conveniences such as the Sherman Plaza Shopping center next door, or the Independence Square Shopping Center, across the street, anchored by Rite-Aid, and T.J. Max. Metroline bus stations, schools, and other retailers are also within walking distance.

Research

20200 Sherman Way, Winnetka, CA 91306 (Los Angeles County)

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