13504 Moorpark Street, Sherman Oaks, CA 91423

Property Description

13504 Moorpark Street presents a rare opportunity to acquire a well maintained six-unit multifamily property in prime Sherman Oaks. Offered for the first time in nearly 40 years, the property is priced at $1,895,000, representing a 5.31% cap rate and a 11.05 GRM, with approximately 28% upside in rental income. Built in 1964, the 6,183-square-foot property features an attractive unit mix consisting of five spacious two-bedroom, one-and-a-half-bathroom townhomes and one one-bedroom, one-bathroom flat. The units offer desirable residential amenities, including large private patios and fireplaces. Four of the six units have RUBS in place, allowing for the recovery of certain capital expenditures and utility expenses. New owner can potentially add RUBS for the new windows/exterior work recently completed. The property has benefited from significant capital improvements, including anew roof, new electrical panels and subpanels, new windows throughout, updated copper plumbing throughout most of the building, and a soft-story seismic retrofit completed in 2019.