14
See all 14 photos
$2,000,000
Est. payment /mo
9 Beds
13 Baths
8,398 SqFt
New
19103 Sherman WAY Reseda, CA 91335
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,398 sqft
Price per Sqft $238
MLS Listing ID 25553143
Bedrooms 9
HOA Y/N No
Year Built 1968
Lot Size 7,213 Sqft
Property Description
Situated at the highly visible corner of Sherman Way and Vanalden Avenue, the property allows tenants convenient access to the revitalized Warner Center and Woodland Hills neighborhoods, including several new and proposed development projects. The new Topanga Village and recently opened Topanga Social are a short drive southwest of the building. The entitled Promenade 2035 mixed-use campus, which could span 35 acres and may include a new sports and entertainment complex for the Los Angeles Rams to use as a practice facility, in addition to 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units, could be developed nearby via a $1.5 billion infusion of capital into the local area. The subject property features full copper plumbing, while the new roof was installed in 2021. That same year, all required seismic retrofit repairs were also completed (Buyer to verify), allowing a new owner to benefit from significantly reduced deferred maintenance expenses. A new investor can add substantial value to the asset and also improve cash flow dramatically by recapturing the approximate 49% in rent upside. In addition to this rent upside, there are three units that are currently non-conforming, producing an extra $3,044 in monthly revenue. Yet another income stream is provided by the on-site laundry facilities at the property.
Location
State CA
County Los Angeles
Area Res - Reseda
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 10
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2104032001
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo • Marcus & Millichap