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45u in Prime Encino | No City Rent Control 5150 Yarmouth Ave 45 Unit Apartment Building $16,200,000 ($360,000/Unit) 5% Cap Rate Encino, CA 91316
Investment Highlights
- OPEN HOUSE: Thursday, July 9th | 11:00 AM - 2:00 PM
- High-quality 45-unit apartment community with no LA city rent control (only state restrictions); Large units average over 1,300 SF
- Value-Add: Approximately $300 per unit monthly in rental upside
- Prime Encino location, minutes to shopping and dining on Ventura Boulevard
- Highly amenitized property: large swimming pool, fitness center, 2 community lounges, central A/C, intercom access, secured parking, elevator, laundry
- “Very Walkable” Location Off Ventura Boulevard (80 Walk Score): Walk to Ralphs, Starbucks, Petco, BevMo!, Coral Tree Café, and Encino Courtyard
Executive Summary
OPEN HOUSE: Thursday, July 9th | 11:00 AM - 2:00 PM
Property website with OM: https://properties.berkadia.com/encino-towers-492661
Berkadia is excited to exclusively offer for sale, Encino Towers, a beautifully maintained 45-unit courtyard style apartment community in a prime Encino location, minutes to shopping and dining along Ventura Boulevard. This highly amenitized property features a large swimming pool, fitness center, two community lounges, central A/C, intercom access, secured parking, elevator, and laundry. Units are large and “home-like,” comprised of one-, two-, and three-bedroom floorplans averaging over 1,300 square feet. High end finishes include wood-style flooring (most units), separate dining room, separate wet bar, recessed lighting, and granite or quartz kitchen countertops (appx. 2/3 of units).
The property is situated in a “very walkable” location (80 Walk Score) and is walking distance to Ralphs, Starbucks, Petco, BevMo!, Coral Tree Café, and Encino Courtyard: Target, Shake Shack, Pressed Juicery, Blaze Pizza and Crumbl Cookies. The property is also just minutes to the Sherman Oaks Galleria and Westfield Fashion Center, Sepulveda Basin Recreation Area, Pierce College, and California State University Northridge (CSUN) with easy access to the 101 Freeway.
Encino Towers offers an investor the rare opportunity to purchase a high-quality 45-unit apartment community with no LA city rent control (only state restrictions).
*Unit sizes shown provided by Loopnet, not ownership.
Property website with OM: https://properties.berkadia.com/encino-towers-492661
Berkadia is excited to exclusively offer for sale, Encino Towers, a beautifully maintained 45-unit courtyard style apartment community in a prime Encino location, minutes to shopping and dining along Ventura Boulevard. This highly amenitized property features a large swimming pool, fitness center, two community lounges, central A/C, intercom access, secured parking, elevator, and laundry. Units are large and “home-like,” comprised of one-, two-, and three-bedroom floorplans averaging over 1,300 square feet. High end finishes include wood-style flooring (most units), separate dining room, separate wet bar, recessed lighting, and granite or quartz kitchen countertops (appx. 2/3 of units).
The property is situated in a “very walkable” location (80 Walk Score) and is walking distance to Ralphs, Starbucks, Petco, BevMo!, Coral Tree Café, and Encino Courtyard: Target, Shake Shack, Pressed Juicery, Blaze Pizza and Crumbl Cookies. The property is also just minutes to the Sherman Oaks Galleria and Westfield Fashion Center, Sepulveda Basin Recreation Area, Pierce College, and California State University Northridge (CSUN) with easy access to the 101 Freeway.
Encino Towers offers an investor the rare opportunity to purchase a high-quality 45-unit apartment community with no LA city rent control (only state restrictions).
*Unit sizes shown provided by Loopnet, not ownership.
Property Facts
| Price | $16,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $360,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.89 AC |
| Cap Rate | 5% | Building Size | 65,269 SF |
| No. Units | 45 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 | ||
| Price | $16,200,000 |
| Price Per Unit | $360,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 65,269 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 920 - 1,000 |
| 2+2 | 37 | - | 1,125 |
| 3+2 | 2 | - | - |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2162-013-012 | Improvements Assessment | $10,283,105 |
| Land Assessment | $4,329,728 | Total Assessment | $14,612,833 |
Property Taxes
Parcel Number
2162-013-012
Land Assessment
$4,329,728
Improvements Assessment
$10,283,105
Total Assessment
$14,612,833
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