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Willis Park West 4573 Willis Ave 22 Unit Apartment Building $6,100,000 ($277,273/Unit) 5.29% Cap Rate Sherman Oaks, CA 91403
INVESTMENT HIGHLIGHTS
- Well maintained 22 unit apartment building located in a prime Sherman Oaks location.
- Tenant amenities include central air, dishwashers, pool, elevator, controlled access, gated parking.
- Situated near Ventura Boulevard, offering easy access to a variety of dining, shopping, and entertainment destinations.
- Tremendous rental upside. Many of the rents are well below market.
EXECUTIVE SUMMARY
Miller & Desatnik Realty Corp. is proud to present 4573 Willis Ave. for sale. Situated in a highly desirable Sherman Oaks neighborhood, 4573 Willis Ave offers unmatched access to essential amenities. Residents can enjoy living in close proximity to a variety of local restaurants, shops, schools, parks, and public transportation. The apartments feature spacious floor plans and a mix of 4 One Bedroom + One Bath Units, 15 Two Bedroom + Two Bath Units, and 3 Three Bedroom + Two Bath Units. Tenant amenities include central air, dishwashers, pool, elevator, controlled access, gated parking. Moreover, with easy access to major freeways like the 101 and I-405, commuting throughout Los Angeles is a breeze, making it an ideal choice for professionals and families alike. The combination of its prime location and well-appointed units makes 4573 Willis Avenue a truly outstanding place to call home, offering a rare opportunity for comfortable, high-quality living in one of LA’s most desirable neighborhoods. This is a rare opportunity to purchase a great multifamily property in a terrific Sherman Oaks location.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $6,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $277,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.29% | Building Size | 26,883 SF |
| Gross Rent Multiplier | 10.18 | Average Occupancy | 91% |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Zoning | LAR3 | ||
| Price | $6,100,000 |
| Price Per Unit | $277,273 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Gross Rent Multiplier | 10.18 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 26,883 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Gated
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,787 | 745 |
| 2+2 | 15 | $2,196 | 1,100 |
| 3+2 | 3 | $2,583 | 1,200 - 1,300 |
1 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 2264-017-037 | Improvements Assessment | $622,970 |
| Land Assessment | $581,436 | Total Assessment | $1,204,406 |
PROPERTY TAXES
Parcel Number
2264-017-037
Land Assessment
$581,436
Improvements Assessment
$622,970
Total Assessment
$1,204,406
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Willis Park West | 4573 Willis Ave
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