Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    14065 Moorpark Street, Sherman Oaks, CA 91423
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    • MLS#: 25484527 ( )
    • Street Address: 14065 Moorpark Street
    • Viewed: 4
    • Price: $7,350,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1956
    • Bldg sqft: 0
    • Days On Market: 21
    • Additional Information
    • County: LOS ANGELES
    • City: Sherman Oaks
    • Zipcode: 91423
    • Provided by: Marcus & Millichap
    • Contact: Filip Filip
    • DMCA Notice
    • Description
      We are pleased to exclusively present Park Seville, a rare 30 unit value add opportunity located at 14065 Moorpark Street in the heart of Sherman Oaks, California. This mid century gem offers a compelling investment opportunity in one of the most desirable neighborhoods of the San Fernando Valley.Park Seville is a two story, walk up building situated on a 23,882 square foot lot. It features an appealing unit mix of 11 studio units, ten one bedroom/one bathroom units, and nine two bedroom/one bathroom units, designed with efficient layouts to cater to the local renting community. Thoughtfully maintained by current ownership, which includes the original developer, upgrades include copper re piping, new electrical subpanels, and select unit enhancements upon turnover. As units turn over, investors can capture an estimated 37% upside potential in rents by implementing high end finishes sought after by modern Sherman Oaks renters. The property also maintains an expansive interior courtyard with a pool, an on site shared laundry facility, and secured garage parking for 22 of the 30 units eight of the studio units are not provided with a parking space.The property's prime location just steps from Ventura Boulevard positions it near Los Angeles' most iconic retail and dining establishments, including Sherman Oaks Galleria, Westfield Fashion Square, and Castle Park. The area is also home to various top tier schools such as Harvard Westlake, Notre Dame, and Buckley. Furthermore, the surrounding region has undergone transformative developments, such as IMT Residential's nearby project, IMT Sunkist. Also known as Citrus Commons, the development is anticipated to deliver 249 residential units and 27,000 square feet of retail space, a project amid many others that greatly reinforce institutional confidence in Sherman Oaks.Park Seville represents a unique chance to create a premier luxury community in a highly coveted Los Angeles rental submarket, offering significant upside potential and long term value for savvy investors.
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    Features
    Building Area Total
    1. 20182.00
    Construction Materials
    1. Stucco
    Country
    1. US
    Foundation Details
    1. Raised
    Heating
    1. Floor Furnace
    Levels
    1. Two
    Netoperatingincome
    1. 373932.00
    Parcel Number
    1. 2271013007
    Parking Features
    1. Covered
    Sourcesystemkey
    1. 25-484527:CLAW
    Tenant Pays
    1. Gas
    2. Electricity
    Totalexpenses
    1. 238706.00
    Year Built
    1. 1956
    Zoning
    1. LAR3
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836