Description
Maher Commercial Realty is pleased to present this unique opportunity to purchase four large +/- 2,200 square foot townhouse units located in the best part of Sherman Oaks, directly adjacent to the Trader Joe’s and Chase Bank retail center, and across the street from Westfield Fashion Square.
At a cost of only $900,000 per unit, this property is potentially a good candidate for future condo conversion. Demand is high, with comparable sales averaging at $496.81/SF and 29 days on market. Two nearby condos sold after only 4 days on market.
The subject property currently has one vacant unit, which has been remodeled, perfect for an owner-user, or an investor. Each townhouse is two-stories and each unit features 3 bedrooms, 2 ½ bathrooms, a den, a formal living room, dining area, private balcony, private entrance to garage, two-car parking, built-in storage cabinets and a lockable storage closet.
The property is also proximate to the 101 Ventura Freeway entrance and is surrounded by fine dining, new developments, and some of the world’s most exclusive retailers. Walk next door to Trader Joe’s and Chase Bank. You are only one block to Bloomingdale’s, Tesla, Macy’s, OrangeTheory, Apple, Sephora, Lululemon, Chipotle, Starbucks and Best Buy. Enjoy the convenience of being only a few blocks from Whole Foods, Gelson’s, Ralphs, Pavilions, and CVS, and highly rated and locally beloved restaurants like Petit Trois le Valley, Marmalade Café, Blu Jam Café, In-n-Out Burger, Gyu-Kaku, Borekas, and Osteria La Buca.
Property Features:
Purchase Price: $3,600,000
Price Per Unit: $900,000
Price Per Sq.Ft.: $414.75
Number of Units: 4
Cap Rate: 3.42%
Number of 3 Bed/2.5 Bath: 4
Building Size: ±8,680 Sq. Ft.
Land Area: ±7,911 Sq. Ft.
Gross Income: $186,000/year
Pro Forma Gross Income: $200,400
NOI: $123,120
Zoning: LAR3
GRM: 19.35
Parking: 8 Spaces (Two Per Unit)
Year Built: 1967
Amenities: Parking, Private Storage Area, Community Outdoor Space
Property Highlights:
- 8,680 square foot building consisting of four townhouse units; each having three bedrooms and two and a half bathrooms
- One vacant owner’s unit makes this property ideal for an owner-user buyer
- Private garage with built-in storage and 2-car parking for each unit
- Each unit measures approximately 2,170 square feet and includes an individual water heater, private balcony and in-unit washer and dryer hookup
- Large shared outdoor space ideal for an outdoor gym, barbecue or lounge area
- Open concept terraced living space with access to the balcony and guest bathroom
- All 3 bedrooms are on the upper level, including the primary suite which features an en-suite bath and wall-to-wall closets
- Highly coveted location one block from Westfield Fashion Square and the 67-acre Van Nuys-Sherman Oak Park. Next door to Trader Joe’s and neighborhood favorite Farm Boy.
- Accessible to the 101 and 405 freeways for an easy commute to the Westside, Downtown LA, Pasadena, Encino, Woodland Hills or Calabasas
- One block from Citrus Commons, a 249-unit mixed use development with 27,000 Sq.Ft. of commercial space
