4188 Greenbush Ave Sherman Oaks, CA 91423
Sale
$3,075,000
10 Units
8 Beds
12 Baths
8,675 Area(sq.ft.)
7,642 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 7 | 1 | 1 | No | $ 1,617 | $ 11,319 | $ 15,050 |
| Unit 2 | 1 | 1 | 1.50 | No | $ 2,240 | $ 2,240 | $ 2,250 |
| Unit 3 | 2 | studio | 1 | No | $ 1,385 | $ 2,770 | $ 3,700 |
| 3 | 10 | 8 | 11 | $ 16,329 | $ 87,013 | $ 115,000 |
| MLS #: | 24-350343 |
| Days On Market: | 64 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 354 |
| Price per unit: | $ 307,500 |
| Year Built: | 1964 |
Property Details
Seller Will Carry - The unit mix consists of (7) 1+1 units, (1) 1+1.5 unit, and (2) studio units. With a lot size of 7,640 square feet, the three (3) story structure totals 8,675 building square feet. The soft story seismic retrofit was previously completed and four (4) of the units have undergone extensive interior remodeling and upgrading. The rents are roughly 20% below market providing an astute investor the opportunity to capture the significant upside in the rents. A buyer may also choose to capitalize on the in-place debt at yesterday's rate of 3.25% interest. The current outstanding loan amount is approximately $1,790,000. This property is separately metered for gas and electricity and has an on-site laundry room delivering additional income. Situated in a prime Sherman Oaks location just South of Ventura Blvd, tenants can walk to countless cafes and shops and enjoy easy access to both the 405 & 101 Freeways.4188Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 194,474 |
| Total Annual Expense: | $ 65,441 |
| Net Operating Income: | $ 129,033 |
| Gross Annual Income: | $ 198,427 |
| Cap Rate: | 4.2% |
| Gross Rent Multiplier: | 15.34 |
| Actual Gross Rent: | $ 195,960 |
| Actual Gross Income: | $ 200,427 |
| Actual Rent Total: | $ 198,427 |
Structure
| Type of Units: | Income |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LARD1.5 |
| Parking Garage: | Assigned, Private |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Garbage Disposal, Dishwasher, Ceiling Fan, Microwave, Range/Oven |
| Heating: | Wall |
| Laundry: | Community |
| Laundry Equipment: | Lease |
Exterior
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