Oakleaf Apartments — Sale in Sherman Oaks, CA

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

Photos

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Investment Figures

Cap rate
4.69%

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 announce the opportunity to purchase the Oakleaf Apartments, a 20-unit multifamily property located in the prime Sherman Oaks neighborhood of Los Angeles, CA. Located at 13535 Moorpark Street, the building occupies a large corner lot that spans block-to-block, with frontage on three different streets. Residents enjoy extremely convenient access to the high-end shopping and fine dining along renowned Ventura Boulevard, just one block away. The property itself has been significantly upgraded in recent years, including the completion of all seismic retrofit repairs (Buyer to verify) as well as improvements to the electrical panels, plumbing system, and landscaping. New water heaters and a remodeled outdoor seating area have both been added to the property recently, while the laundry room has been updated as well. Apartment interiors have largely been refurbished, allowing a new investor to maintain improved cash flow without the need for major capital expenditures. In fact, 75% of all units have already been upgraded, yet there still remains approximately 21% in rent upside for a new owner to recapture. Located near the intersection of Woodman Avenue and Ventura Boulevard, the property is situated on the corners of Moorpark Street, Allott Avenue, and Rye Street. In addition to being just one block from Ventura Boulevard, tenants are also walking distance from the Westfield Fashion Square. The new 93,000 square foot Shops at Sportsmen’s Lodge, including a large Erewhon location, are just one mile from the property, helping to attract higher-paying tenants to the building. Investment Highlights: • Outstanding Sherman Oaks Location — One Block from Ventura Boulevard • Several Recent Improvements, Including Electrical Panel Replacement, Plumbing Upgrades, New Water Heaters, and New Landscaping • All Seismic Retrofit Repairs Completed (Buyer to Verify) • Heavily Upgraded Asset — 75% of Unit Interiors Remodeled in Recent Years • Excellent R

Market Context

This multifamily in Sherman Oaks, CA is listed for sale. It is offered at an approximate 4.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Sherman Oaks, CA — view the full market.

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