Property Detail

Description

13453 & 13259 Moorpark Street , twelve (12) total units consisting of side by side six (6) unit properties on separate parcel numbers in prime Sherman Oaks that can be purchased together or individually. Originally built in 1956, this offering consists of a highly desirable mix of eight 1+1, two2+1 and two 2+21.5 units. The structures are two stories that total approximately10,960 SF. The courtyard style apartments surround a courtyard with beautiful manicured gardens. There is a covered car port behind the building that can accommodate 12 cars with a fenced in deck above it for tenants to enjoy. Interiors feature a combination of real wood, wood laminate & tile floors along with some granite counters and well preserved original tile countertops. Units feature large closets, charming and useful original built in cabinets that adorn units built in the 50's. A Buyer may elect to assume the current Chase loan balance of $1,391,639.50 ( as of June 1). The interest rate is fixed until July of 2029 at 4.01%. With all units currently occupied, this property presents an excellent value-add opportunity offering potential for growth and appreciation for years to come. There is 20% rental upside and an on-site laundry room that provides additional income. The property is located on Moorpark Street between Woodman and Fulton close to the boarder of Studio City in council district four CD(4). Tenants are just steps steps away the restaurants and shopping on Ventura Boulevard in Sherman Oaks /Studio City.