4737 Orion Avenue Sherman Oaks, CA 91403
25-Unit Multifamily Sherman Oaks
SOLD: $8,500,000 CAP RATE: 4.38% GRM: 14.52 PRICE PER SQUARE FOOT: $352
4737 Orion Ave is a rare Sherman Oaks offering located in an AAA location within one of the trendiest and most sought after neighborhoods in Los Angeles. The property sits in close proximity to an extensive selection of fine dining, shopping and entertainment options that Sherman Oaks is known for.
The building features an exceptional unit mix consisting of 7 two bedroom two bath units, 16 two bedroom one and one half bath units, 1 three bedroom two bath unit and 1 studio unit. With more than 33 percent upside in market rents, the asset presents a significant value add opportunity in a core infill location.
The property has completed its earthquake seismic retrofit and had been held by the same ownership for over 28 years, making this the first time it has sold in nearly three decades. The asset closed off market for $8,500,000 with both the buyer and the seller represented by Michael Monempour and David Saghian.
The sale reflects a price per unit of $340,000, a price per square foot of $352, a GRM of 14.52 and a cap rate of 4.38%. This closing highlights the continued strength of well located multifamily assets in Sherman Oaks and the ability of The Saghian Group to source and execute high quality off market transactions.
Investment Highlights
AAA+ Sherman Oaks Location – Property is situated in one of the Trendiest Neighborhoods in Los Angeles
CLOSE proximity to an array of Fine Dining, Shopping & Entertainment Options that Sherman Oaks has to offer
AMAZING Unit Mix consisting of 7 Two Bedroom / Two Bathrooms units, 16 Two Bedroom / One- and One-Half Bathroom units, 1 Three Bedroom / Two Bath unit, and 1 Studio unit
VALUE ADD opportunity with over 33% Upside in Market Rents
COMPLETED Earthquake Seismic Retrofit FIRST TIME Property sold in over 28 Years!
PROPERTY Sold off market- Buyer & Seller Represented by David Saghian
Exclusively Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com