Contact Xavier Gomez
Contacting Xavier Gomez
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
14556 Magnolia Boulevard, Sherman Oaks, CA 91403
Priced at Only: $10,450,000
For more Information Call Mobile: 714.478.6676
Address: 14556 Magnolia Boulevard, Sherman Oaks, CA 91403
Request More Information
  • All fields are required.
  • MLS#: 24427717 ( )
  • Street Address: 14556 Magnolia Boulevard
  • Viewed: 15
  • Price: $10,450,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1961
  • Bldg sqft: 0
  • Days On Market: 133
  • Additional Information
  • County: LOS ANGELES
  • City: Sherman Oaks
  • Zipcode: 91403
  • Provided by: Marcus & Millichap
  • Contact: Matthew Matthew
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    ***PRICE REDUCED ADDITIONAL $500,000*** We are pleased to present the Terraces at the Summit, a 50 unit value add apartment building located at 14556 Magnolia Boulevard in Sherman Oaks, California. Current rents are approximately 22% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. Built in 1961, the property features a favorable unit mix consisting of (17) studio/one bathroom units and (33) one bedroom/one bathroom units. Units feature wood flooring, granite countertops, dishwasher, microwave and floor to ceiling living room windows (select units). Property amenities include secured access, pool, grill/picnic area, lounge, fitness center, laundry facility, elevator and gated subterranean parking. The 39,198 square foot building sits on a large 0.57 acre lot that is LAR3 zoned. The Terraces at the Summit is located in Sherman Oaks, one of the best rental submarkets in Los Angeles County with historically low vacancy rates. The property is in close proximity to grocery stores, restaurants and retail on Van Nuys Boulevard as well as vibrant cafes, fine dining, high end chic retail and nightlife on nearby Ventura Boulevard. The property is conveniently located near the 405 and 101 freeways and just a short drive to major job centers such as Woodland Hills, Encino, North Hollywood, Burbank and Glendale.
Features
Building Area Total
  1. 39198.00
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Heating
  1. Wall Furnace
Laundry Income
  1. 4818.00
Levels
  1. Three Or More
Netoperatingincome
  1. 597759.00
Otherincome1
  1. 3360.00
Parcel Number
  1. 2263035023
Parking Features
  1. Covered
Sourcesystemkey
  1. 24-427717:CLAW
Totalexpenses
  1. 367541.00
Views
  1. 15
Year Built
  1. 1961
Zoning
  1. LAR3
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Mobile: 714.478.6676
  5. Fax: 714.975.9953
  6. salesbyxavier@gmail.com
Request More Information
  • All fields are required.