14931 Magnolia Blvd Sherman Oaks, CA 91403
Active
$3,000,000
6%
9 Units
9 Beds
14 Baths
8,763 Area(sq.ft.)
7,414 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | n/a | n/a | $ 2,300 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,611 | $ 1,611 | $ 2,300 |
| Unit 3 | 1 | 1 | 2 | No | n/a | n/a | $ 2,600 |
| Unit 4 | 1 | 1 | 2 | No | $ 2,350 | $ 2,350 | $ 2,600 |
| Unit 5 | 1 | 1 | 1.50 | No | $ 2,300 | $ 2,300 | $ 2,550 |
| Unit 6 | 1 | 1 | 1.50 | No | $ 1,730 | $ 1,730 | $ 2,550 |
| Unit 7 | 1 | 1 | 1.50 | No | $ 1,730 | $ 1,730 | $ 2,550 |
| Unit 8 | 1 | 1 | 1.50 | No | $ 2,200 | $ 2,200 | $ 2,550 |
| Unit 9 | 1 | 1 | 1.50 | No | $ 1,611 | $ 1,611 | $ 2,550 |
| 9 | 9 | 9 | 16 | $ 13,532 | $ 13,532 | $ 22,550 |
| MLS #: | 24-415755 |
| Days On Market: | 144 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 342 |
| Price per unit: | $ 333,333 |
| Year Built: | 1981 |
Property Details
We are pleased to present 14931 Magnolia Blvd, a 9-unit multifamily property located in Sherman Oaks. This property represents a value-add opportunity for investment in a highly sought-after pocket of the San Fernando Valley, situated only minutes away from Encino and Van Nuys. 14931 Magnolia Blvd is an ideal choice for investors seeking over 25% in rental upside through interior and exterior renovation programs. With 2-units currently vacant, an investor can get a head start on their interior renovation program to achieve market rents. Constructed in 1981, this multi-story property is comprised of two 1-bedroom/1-bathroom units, five 1-bedroom/1.5-bathroom townhouse units, and two 1-bedroom/2-bathroom units with a loft. The two loft units function like a 2-bedroom unit as there is a 2nd bathroom on the loft level. All units have private patios or balconies, are equipped with central air conditioners, and are individually metered for gas and electric utilities. The property includes 14 parking spaces, on-site laundry, gated parking, controlled access, and a common area for tenants to sit outside and enjoy the use of barbeque grills. 14931 Magnolia Blvd is not subject to the LA City Rent Stabilization Ordinance and rents can be increased by 5% + CPI (AB 1482). 14931 Magnolia Blvd is situated south of Burbank Blvd with Sepulveda Blvd to the west and Kester Ave to the east. Residents have easy access to several nearby bus stops on Magnolia Blvd and Sepulveda Blvd. For nature enthusiasts, the property is only a mile away from the Sepulveda Basin where one can enjoy kayaking, fishing, and exploring nature. Moreover, its proximity to the Ventura Boulevard with its variety of retail shops, restaurants, offices, shopping centers, and other places of business ensures a high demand for rental units. For commuters, the property is minutes away from the 101 405 Freeways, allowing access throughout the San Fernando Valley and into the westside of Los Angeles.Interested in this Listing?
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Income Details
| Vacancy Rate: | 2% |
| Gross Operating Income: | $ 216,426 |
| Total Annual Expense: | $ 73,183 |
| Net Operating Income: | $ 143,243 |
| Gross Annual Income: | $ 223,080 |
| Cap Rate: | 4.77% |
| Gross Rent Multiplier: | 13.53 |
| Actual Gross Rent: | $ 221,784 |
Structure
| Type of Units: | market rate |
| Buildings: | 1 |
| Levels: | Multi/Split |
| Security Features: | Automatic Gate, Carbon Monoxide Detector(s), Gated, Smoke Detector |
| Water: | District |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Garage Is Attached, Gated |
Interior
| AC/Cooling: | Central |
| Equipment: | Dishwasher, Garbage Disposal, Hood Fan, Range/Oven |
| Heating: | Central |
Exterior
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