CA > Sherman Oaks
Sherman Oaks, CA 91403,14556 Magnolia BLVD
Sherman Oaks, CA 91403,14556 Magnolia BLVD
Sherman Oaks, CA 91403,14556 Magnolia BLVD
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$10,450,000
Est. payment /mo
35 Beds
50 Baths
39,198 SqFt
Save

UPDATED:

10/29/2024 10:11 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 39,198 sqft

Price per Sqft $266

MLS Listing ID 24427717

Bedrooms 35

HOA Y/N No

Year Built 1961

Lot Size 0.574 Acres

Property 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.

Location

State CA

County Los Angeles

Area So - Sherman Oaks

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Garage Covered

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 2263035023

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Matthew Ziegler • Marcus & Millichap

MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
$
$
%
%
Advanced
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Get more info from a local expert!
Full Name
Phone

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

 
Serving Southern California

Custom Quick Search Tools To Explore Nearby Zip Codes, Cities & Neighborhoods In Your Preferred Destinations

There are 30 quick searches