Log In/Sign Up
Your email has been sent.
13021-13025 Moorpark St 14 Unit Apartment Building $4,899,000 ($349,929/Unit) 6.05% Cap Rate Studio City, CA 91604
EXECUTIVE SUMMARY
Two-story prime Studio City building. Excellent location next to a quiet, neighborhood.
We have a preliminary cost segregation study done. The company estimates that the new buyer will be able to write off between $400k and $900k the first year of ownership due to the new tax bill that allows 100% depreciation write off. This will save your buyer thousands.
Each unit has a spacious balcony. Some with great views. There have been thoughtful upgrades to the landscaping, and hardscape elevating the curb-appeal of this property.
26 total covered parking spots. There is a (permitted) converted finished office/studio in the garage area with access ready for toilet/drainage and water supply. Updated laundry room with 2 coin-op drum washers and 2 coin-op stack dryers.
There are 2 large 3-bedroom 2.5 bath townhouse units with washer/dryers. They both have private front yards. Six of the eight 1 bedroom 1 bath units have been completely upgraded with a mix of veneer wood and vinyl flooring. Three of the four 2-bedroom 2 bath units have been completely upgraded and are appointed similarly to the upgraded 1 bedroom units. Each unit has a ceramic log natural gas fireplace with wall switch ignition.
The building is a mix of primarily timber framing (with sheer walls) and heavy steel construction. Flat BUR roof was completely replaced circa 2017. 95% of the plumbing has been replaced with PEX and copper. 10 of the 14 units have been fitted with water use meters. Currently, 9 of those units (meters) are billed through management for both water and sewer, at the same rate as LADWP. The remaining 4 units can be easily upgraded to the metered system. The tenants basically pay some of the utilities...specifically the use of water and the related sewer charges. This makes a very low cost to operate the building.
11 of the AC units have been upgraded to reduced energy draw units. The power to the building is a 600v main with 14, 50-amp service to each unit, and upgraded sub-panels. Only one original in-unit sub-panel remains.
We have a preliminary cost segregation study done. The company estimates that the new buyer will be able to write off between $400k and $900k the first year of ownership due to the new tax bill that allows 100% depreciation write off. This will save your buyer thousands.
Each unit has a spacious balcony. Some with great views. There have been thoughtful upgrades to the landscaping, and hardscape elevating the curb-appeal of this property.
26 total covered parking spots. There is a (permitted) converted finished office/studio in the garage area with access ready for toilet/drainage and water supply. Updated laundry room with 2 coin-op drum washers and 2 coin-op stack dryers.
There are 2 large 3-bedroom 2.5 bath townhouse units with washer/dryers. They both have private front yards. Six of the eight 1 bedroom 1 bath units have been completely upgraded with a mix of veneer wood and vinyl flooring. Three of the four 2-bedroom 2 bath units have been completely upgraded and are appointed similarly to the upgraded 1 bedroom units. Each unit has a ceramic log natural gas fireplace with wall switch ignition.
The building is a mix of primarily timber framing (with sheer walls) and heavy steel construction. Flat BUR roof was completely replaced circa 2017. 95% of the plumbing has been replaced with PEX and copper. 10 of the 14 units have been fitted with water use meters. Currently, 9 of those units (meters) are billed through management for both water and sewer, at the same rate as LADWP. The remaining 4 units can be easily upgraded to the metered system. The tenants basically pay some of the utilities...specifically the use of water and the related sewer charges. This makes a very low cost to operate the building.
11 of the AC units have been upgraded to reduced energy draw units. The power to the building is a 600v main with 14, 50-amp service to each unit, and upgraded sub-panels. Only one original in-unit sub-panel remains.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$432,036
|
$19.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$432,036
|
$19.38
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$124,383
|
$5.58
|
| Net Operating Income |
$307,653
|
$13.80
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $432,036 |
| Annual Per SF | $19.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $432,036 |
| Annual Per SF | $19.38 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $124,383 |
| Annual Per SF | $5.58 |
| Net Operating Income | |
|---|---|
| Annual | $307,653 |
| Annual Per SF | $13.80 |
PROPERTY FACTS
| Price | $4,899,000 | Apartment Style | Low-Rise |
| Price Per Unit | $349,929 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.05% | Building Size | 22,290 SF |
| Gross Rent Multiplier | 11.29 | No. Stories | 2 |
| No. Units | 14 | Year Built | 1978 |
| Property Type | Multifamily | Parking Ratio | 1.17/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 | ||
| Price | $4,899,000 |
| Price Per Unit | $349,929 |
| Sale Type | Investment |
| Cap Rate | 6.05% |
| Gross Rent Multiplier | 11.29 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 22,290 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | LAR3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $2,131 | - |
| 2+2 | 4 | $3,225 | - |
| 3+2.5 | 2 | $3,025 | - |
1 1
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 2362-011-030 | Improvements Assessment | $1,010,418 (2025) |
| Land Assessment | $219,837 (2025) | Total Assessment | $1,230,255 (2025) |
PROPERTY TAXES
Parcel Number
2362-011-030
Land Assessment
$219,837 (2025)
Improvements Assessment
$1,010,418 (2025)
Total Assessment
$1,230,255 (2025)
1 of 13
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
13021-13025 Moorpark St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.