11329 Sherman Way & 7209 Bakman Ave — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 91352

Investment Figures

Cap rate
5.39%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to present the opportunity to acquire 11329 Sherman Way and 7209 Bakman Ave, a 28-unit investment opportunity located in the highly desirable 91352 zip code of Sun Valley. Investment Highlights: • Two Adjacent Properties: Totaling 28 units, including a separately parceled fourplex, allows for shared management efficiencies while providing long-term ownership, financing, and exit flexibility. • On-Site Laundry Facilities: Centralized on-site laundry room provides a convenient resident amenity while generating supplemental income for ownership. • Ample On-Site Parking: Large surface parking lot provides abundant resident parking—a key competitive advantage in the eastern San Fernando Valley and a strong driver of tenant retention. • Strong In-Place Cash Flow with Massive Upside: The opportunity generates a ~5.4% in-place cap rate with a clear value-add path to a ~9.4% projected cap rate, driven by approximately 40–50% rental upside through mark-to-market rent growth and operational efficiencies. • Diversified Unit Mix: The portfolio consists of (9) bachelor units, (8) studios, (10) one-bedroom / one-bath units, and (1) two-bedroom / two-bath unit, supporting broad renter demand and stable occupancy across multiple tenant profiles. • Major Capital Improvements Completed: Ownership has recently completed key exterior and system upgrades, including copper plumbing, new windows, stone siding, fresh paint, and gated entry, reducing near-term CapEx exposure. • Convenient, Amenity-Rich Location: Walkable access to nearby retail, services, and daily conveniences, with proximity to Burbank and North Hollywood employment hubs, supports durable workforce housing demand.

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.4% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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