13804 Moorpark Street, Sherman Oaks, CA 91423

$1,270,000
6
BD
6
BA
2,400
SqFt
Sold Price
$1,270,000
List Price
$1,295,000
Closing Date
Jul 16, 2019
Status
Closed
MLS#
19476902
Year Built
1953
Bedrooms
6
Bathrooms
6
Living Sq. Ft
2,400
Lot Size
6,121
Days on Market
35
Property Type
Multifamily

Property Description

We are pleased to present this unique opportunity to acquire a 6-unit building located at 13804 Moorpark St, Sherman Oaks, California. Situated at the corner of one of the most sought after streets in Sherman Oaks, this rent-controlled building consists of all Studio/1-bath units of approximately 400 square feet each.~With no deferred maintenance to speak of, the property boasts upgraded, clean units with 100% copper plumbing throughout and a pristine roof.~With the current rental income of approximately~$83,000 per year, an investor can get financing at a~4.00% interest rate on a down payment of 45% ($630,000) for a fully amortized loan. If an investor decided to get an interest only loan to help with the initial cash flow, the interest rate would be slightly higher at 4.15%. Furthermore, all units are eligible for a 4% rent increase October 1st, which will boost the annual rents by an additional~$3,300.

Additional Information

Heat
Other
Cooling
Other
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Parking
Other

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Marcus & Millichap, Filip Niculete - CA DRE#01905352 Selling Office: Marcus & Millichap.

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