CA > Sherman Oaks
Sherman Oaks, CA 91403,14556 Magnolia Blvd
Sherman Oaks, CA 91403,14556 Magnolia Blvd
Sherman Oaks, CA 91403,14556 Magnolia Blvd
14
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$10,450,000
Est. payment /mo
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35 BD
50 BA
39,198 SqFt
Active Under Contract

14556 Magnolia Blvd Sherman Oaks, CA 91403

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Chan Wathen

Chan Wathen

+1(702) 461-7869

UPDATED:

12/09/2024 04:08 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 39,198 sqft

Price per Sqft $266

MLS Listing ID 24-427717

Bedrooms 35

Year Built 1961

Lot Size 0.574 Acres

Acres 0.5738

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 Sherman Oaks

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment None

Exterior

Parking Features Covered Parking

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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agent

Chan Wathen

REALTOR ® | RE.NV Lic.# S.59111

+1(702) 461-7869

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14556 Magnolia Blvd