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PRICE REDUCED 39U | 1989 Build | 6.5 Cap 2 Multifamily Properties Offered at $8,960,000 in Reseda, CA
Investment Highlights
- Financial Metrics: 6.5% cap rate, 9.58 GRM — upside to 7.29% cap rate and 8.84 GRM after ADU construction costs.
- Value-Add Potential: Offers the potential to add up to 9 ADUs across the two properties; some with patios; select units already upgraded.
- Transit Access: One block from the Reseda Blvd/Sherman Way corridor; Metro G Line approximately 1.5 miles away.
- Not Subject to LA City Rent Control: Allows for annual increases of 5% + CPI (currently 8.7%)—select units due for increases immediately.
- Location Benefits: Near Sherman Way & Reseda Blvd retail, grocery, dining, pharmacy, parks, CSUN, and Pierce College.
- High Walk Score: 86 Walk Score — highly walkable neighborhood for daily errands, shopping, and dining on foot.
Executive Summary
MAJOR PRICE REDUCTION - Kelly Morgan Multifamily Group presents a rare opportunity to acquire a 39 unit, two-property portfolio on the same block in Reseda (both properties to be purchased together). Priced to move, the offering combines immediate cash flow with significant upside through rental increases and ADU development, all in one of the San Fernando Valley's most walkable and well-located submarkets. Steps from Sherman Way and Reseda Boulevard, these properties offer convenient access to public transportation, nearby retail, dining, parks, and major educational institutions. Overall, this portfolio presents an attractive opportunity for investors seeking both cash flow and long-term appreciation.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
Disclaimer: Property sold as is, where is.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
Disclaimer: Property sold as is, where is.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $8,960,000 | Number of Properties | 2 |
| Price / SF | $302.83 / SF | Individually For Sale | 0 |
| Cap Rate | 6.50% | Total Building Size | 29,588 SF |
| Sale Type | Investment | Total Land Area | 0.58 AC |
| Status | Active |
| Price | $8,960,000 |
| Price / SF | $302.83 / SF |
| Cap Rate | 6.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 29,588 SF |
| Total Land Area | 0.58 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Baird Apartments
7249 Baird Ave, Reseda, CA 91335 |
Multifamily | 21,476 SF | 1989 | - |
|
Wyandotte Apartments
18540 Wyandotte St, Reseda, CA 91335 |
Multifamily | 8,112 SF | 1989 | - |
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PRICE REDUCED 39U | 1989 Build | 6.5 Cap