Josh Luchs and Team Luchs of Marcus & Millichap are pleased to present for your consideration a NON RENT CONTROL 8 Unit Apartment Building with newer 1990 construction in the much sought after Sherman Oaks Zip Code. The Property is uniquely situated on a quiet, residential side street recently re-paved by the City and with plenty of street parking for guests in addition to 16 dedicated subterranean tandem tenant parking spaces located behind a security gate. The Property is within close proximity to the Sherman Oaks Galleria and Arclight Cinemas, Castle Park Entertainment Center, Government Buildings and Courts, the United States Post Office, and surrounding parks and restaurants. This is not a soft story building, and there are no retrofit requirements.
In short, this offering provides an investor the opportunity to acquire a well maintained non-rent controlled Sherman Oaks property on a quite tree lined residential street with immediate rental upside.
The Property contains a highly sought after mix of two - 3BDRM/2 Bath units in addition to six - 2BDRM/2 Bath units, making the rent roll substantial for the rentable 8,400 of square feet and providing great economies of scale. Each unit has a balcony, central air conditioning and heat, and the significant convenience of its own personal washer and dryer! The garage has a dedicated bike rack for parking bikes. Almost all of the units have newer appliances, kitchen countertops, and laminate flooring. The building is very clean with well-maintained landscaping and common areas and minimum irrigation requirements, and it has been upgraded with a newer boiler and utility cabinet. A recent routine city inspection resulted in zero noted items or corrective action to be taken, as the property is in superior shape as a result of the current Owners pride of ownership.
