11613-27 Moorpark St. Studio City, CA 91602
Multifamily Property in Studio City
SOLD: $4,150,000 CAP RATE: 4.50% GRM: 14 PRICE PER SQUARE FOOT: $399
Amazing assemblage of 3 parcels on Moorpark. Currently, the property has (1) 5 unit apartment building consisting of (1) 2/1 and (4) 1/1 on the parcel to the east. The two parcels to the west consist of various single story bungalow style apartments. There are (2) 2/1 and (7) 1/1’s on the remaining 2 parcels. The City has these 3 parcels as already having 7 independent site address. The property is well maintained and has been virtually 100% occupied throughout the years.
It has a classic 1950’s feel with most all units having real hardwood oors and top notch appointments. Every unit is very nice inside and extremely well maintained. Each unit has it’s own tankless water heater and excellent tenants. This is a low density property located on prime R3 land. It is on the corner of Moorpark and Troost with alley access. There are 10 enclosed garages that are dedicated to various tenants include in their tenancy. Tons of opportunity to collect rents while getting entitlements or profit from a future upside in rents. Drive by only, please don’t disturb the current occupants.
Investment Highlights
Reduced price. Part of a portfolio. Can be sold separately or combined with 11617 & 11627 Moorpark Street.
5-units built in 1953, first time on market in almost 30 years.
New electric panels, copper plumbing, and sewer lines.
Great Los Angeles/Studio City location, south of the 101 Freeway
Good unit mix of studio, one and two bedrooms.
Plenty of restaurants, bars and shops in the Studio City area.
Listed & Sold By:
Tony Sameyah
(310) 749-4475
tony@lyonstahl.com