14931 Magnolia BLVD, Sherman Oaks, CA 91403 - MLS#24415755

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Katrina Smith

katrina.smith@pinpointproperties.com +1(949) 209-9004

$3,000,000

Est. payment - /mo

9 Beds

14 Baths

8,763 SqFt

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UPDATED:

12/05/2024 10:57 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,763 sqft

Price per Sqft $342

MLS Listing ID 24415755

Bedrooms 9

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1981

Lot Size 7,413 Sqft

Property Description

We are pleased to present 14931 Magnolia Blvd, a 9-unit multifamily property located in Sherman Oaks. This property represents a value-add opportunity for investment in a highly sought-after pocket of the San Fernando Valley, situated only minutes away from Encino and Van Nuys. 14931 Magnolia Blvd is an ideal choice for investors seeking over 25% in rental upside through interior and exterior renovation programs. With 2-units currently vacant, an investor can get a head start on their interior renovation program to achieve market rents. Constructed in 1981, this multi-story property is comprised of two 1-bedroom/1-bathroom units, five 1-bedroom/1.5-bathroom townhouse units, and two 1-bedroom/2-bathroom units with a loft. The two loft units function like a 2-bedroom unit as there is a 2nd bathroom on the loft level. All units have private patios or balconies, are equipped with central air conditioners, and are individually metered for gas and electric utilities. The property includes 14 parking spaces, on-site laundry, gated parking, controlled access, and a common area for tenants to sit outside and enjoy the use of barbeque grills. 14931 Magnolia Blvd is not subject to the LA City Rent Stabilization Ordinance and rents can be increased by 5% + CPI (AB 1482). 14931 Magnolia Blvd is situated south of Burbank Blvd with Sepulveda Blvd to the west and Kester Ave to the east. Residents have easy access to several nearby bus stops on Magnolia Blvd and Sepulveda Blvd. For nature enthusiasts, the property is only a mile away from the Sepulveda Basin where one can enjoy kayaking, fishing, and exploring nature. Moreover, its proximity to the Ventura Boulevard with its variety of retail shops, restaurants, offices, shopping centers, and other places of business ensures a high demand for rental units. For commuters, the property is minutes away from the 101 405 Freeways, allowing access throughout the San Fernando Valley and into the westside of Los Angeles.

Location

State CA

County Los Angeles

Area So - Sherman Oaks

Zoning LARD1.5

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Disposal

Exterior

Parking Features Gated

Community Features Gated

Attached Garage Yes

Building

Story 2

Entry Level Multi/Split

Water Public

Level or Stories Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 2250021036

Security Features Carbon Monoxide Detector(s),Security Gate,Gated Community,Smoke Detector(s)

Special Listing Condition Standard

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Listed by Sevak Keshishian • Marcus & Millichap

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Katrina Smith

+1(949) 209-9004

Broker | DRE#01915697

Broker DRE#01915697