13021-13025 Moorpark St 14 Unit Apartment Building $4,599,000 ($328,500/Unit) 6.45% Cap Rate Studio City, CA 91604

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.