14825 Magnolia Blvd Sherman Oaks, CA 91403
11-Units in Prime Sherman Oaks with Upside
SOLD: $2,150,000 CAP RATE: 5.49% GRM: 11.15 PRICE PER SQUARE FOOT: $281
We are pleased to announce the sale of 14825 Magnolia Blvd an eleven unit multifamily asset located in one of the most desirable rental pockets of Sherman Oaks adjacent to Encino and Valley Village. Ideally positioned near a wide range of dining shopping and entertainment amenities the property offers strong long term renter demand and exceptional investment fundamentals.
The building sits on a 10,984 square foot lot with 7,632 square feet of rentable space and features an excellent unit mix consisting of three two bedroom one bathroom units and eight one bedroom one bathroom units. Units average approximately 693 square feet and the property provides future expansion potential with the ability to add two to three ADUs on site.
The property sold for $2,150,000 reflecting a 5.49% cap rate an 11.15 GRM and a $281 price per square foot. The asset presented a strong value add opportunity with approximately 39% upside in rents appealing to investors seeking both stability and long term growth.
The building is ideally located near Ventura Boulevard the Sherman Oaks Galleria and major transit corridors offering tenants excellent walkability and access to top tier neighborhood amenities.
David Saghian represented both the buyer and the seller in the transaction.
Investment Highlights
Eleven unit asset in a premier Sherman Oaks location near Valley Village and Encino
Excellent unit mix with three two bedroom one bathroom units and eight one bedroom one bathroom units
Significant value add potential with approximately 39% upside in rents
Large 10,984 square foot lot with 7,632 square feet of rentable area
Average unit size of 693 square feet with potential to add two to three ADUs
Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com