13951 Moorpark St — Sale in Sherman Oaks, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Sherman Oaks, CA 91423

Investment Figures

Cap rate
5.00%

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 & Millichap is pleased to present the opportunity to acquire The New Yorker, a 34-unit apartment building located on Moorpark Street in Sherman Oaks. The New Yorker represents a rare buying opportunity given its prime location in Sherman Oaks and sizable unit count. The New Yorker is a 34-unit value-add opportunity located in Sherman Oaks, an affluent neighborhood of the San Fernando Valley known for excellent rent growth and low vacancy rates. The property has a tremendous unit mix with over 82% of the apartments being two and three bedroom units. The apartments are extremely spacious with a great potential of raising the income as tenants vacate and owner upgrades units. The property is priced below replacement cost at $230 a sq. ft. The subject property is one of only 30 properties in Sherman Oaks that are larger than 30 units located on or south of Moorpark Street. On average, there is less than one opportunity to acquire such a property in Sherman Oaks each year. The common areas include a swimming pool, central courtyard, sundeck, 34 gated parking spaces, elevator, and onsite laundry room (three washers/three dryers). Most units have private patios or balconies. Investment Highlights: • Huge Units • Excellent Sherman Oaks Location • Tremendous Unit Mix • Pool and Elevator • Seven Low Income Units Burn off in June 2026 *** • Huge upside in the rents • City required Seismic retrofitting has been completed

Market Context

This multifamily in Sherman Oaks, CA is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Sherman Oaks, CA — view the full market.

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