14926 Dickens Street Sherman Oaks, CA 91403
8-Unit Apartment in Sherman Oaks (South of Ventura Blvd.)
SOLD: $2,380,000 CAP RATE: 5.13% GRM: 11.87 PRICE PER SQUARE FOOT: $365
We are pleased to announce the sale of 14926 Dickens St an eight unit multifamily asset located in a highly desirable Sherman Oaks location south of the Boulevard. The property features an excellent unit mix consisting of two two bedroom one bathroom units and six large one bedroom one bathroom units. Six of the eight units had been recently remodeled making the offering highly attractive to both investors and renters seeking updated finishes in a prime neighborhood.
The building includes desirable updates such as hardwood floors throughout and 100% copper plumbing creating a strong physical foundation and reducing near term capital expenditures. Located just moments from Ventura Boulevard the property offers residents immediate access to top tier dining boutique retail grocery and entertainment options.
The property sold for $2,380,000 which reflects a 5.13% cap rate an 11.87 GRM and a $365 price per square foot. The transaction closed all cash in 30 days demonstrating strong buyer confidence and significant demand for well located turnkey assets in Sherman Oaks.
David Saghian represented both the buyer and the seller in the transaction.
Investment Highlights
Prime Sherman Oaks location south of the boulevard in a highly sought after rental corridor
Sold for $2,380,000 reflecting a 5.13% cap rate an 11.87 GRM and a $365 price per square foot
Strong unit mix consisting of two two bedroom one bathroom units and six large one bedroom one bathroom units
Six of eight units fully remodeled creating strong in place rents and minimal near term capital needs
Recent building upgrades including hardwood floors throughout and 100% copper plumbing
All cash buyer who closed in 30 days
Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com