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Magnolia Apartments 14833 Magnolia Blvd

36 Unit Apartment Building $11,900,000 ($330,556/Unit) 4.26% Cap Rate Sherman Oaks, CA 91403

Investment Highlights

  • Desirable Rental Location in the City of Sherman Oaks
  • Value-Add Opportunity; Potential to Increase Income Approximately 30%
  • Beautiful Courtyard Area
  • Excellent Unit Mix Featuring Studio’s, One-, and Two- Bedroom Floor Plans
  • Located within Minutes to the 118, 101, and 405 Freeways and a Short Drive to Burbank, North Hollywood, Studio City, Calabasas and Glendale
  • Secured Entry

Executive Summary

CBRE, Inc. is proud to exclusively present a prime multifamily asset in the coveted Sherman Oaks neighborhood, located at 14833 Magnolia Blvd, Los Angeles, CA. Situated near Westfield Fashion Square and minutes from Universal Studios, the property is within walking distance to an abundance of dining, shopping, and entertainment options. Commuting is easy, with close access to the 101 freeway.
Totaling 36 units with a desirable mix of studios, 1-beds, and 2-beds, the property features community amenities including on-site laundry, outdoor courtyard seating, carport parking, and elevator for resident convenience. High-speed Internet access, wall air conditioning and heating, ceiling fans, vertical blinds and quality kitchen appliances are provided in all units and many units have been upgraded with modern finishes.
Surrounded by renowned LA landmarks like the Griffith Observatory and Hollywood Bowl, this turnkey property offers the opportunity to capitalize on the desirability of the Sherman Oaks market. With its strategic location, diverse unit mix, and sought-after amenities, 14833 Magnolia Blvd is primed to deliver consistent cash flow and long-term value appreciation. Seize your chance to own a piece of this thriving community.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $841,128 $26.81
Other Income $30,631 $0.98
Vacancy Loss $26,153 $0.83
Effective Gross Income $845,606 $26.95
Taxes $147,180 $4.69
Operating Expenses $191,478 $6.10
Total Expenses $338,658 $10.79
Net Operating Income $506,948 $16.16

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $841,128
Annual Per SF $26.81
Other Income
Annual $30,631
Annual Per SF $0.98
Vacancy Loss
Annual $26,153
Annual Per SF $0.83
Effective Gross Income
Annual $845,606
Annual Per SF $26.95
Taxes
Annual $147,180
Annual Per SF $4.69
Operating Expenses
Annual $191,478
Annual Per SF $6.10
Total Expenses
Annual $338,658
Annual Per SF $10.79
Net Operating Income
Annual $506,948
Annual Per SF $16.16

Property Facts

Price $11,900,000
Price Per Unit $330,556
Sale Type Investment
Cap Rate 4.26%
Gross Rent Multiplier 14.15
No. Units 36
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.67 AC
Building Size 31,378 SF
No. Stories 3
Year Built 1963
Parking Ratio 1.31/1,000 SF

Unit Amenities

  • Balcony
  • Storage Space
  • Heating
  • Oven
  • Range

Site Amenities

  • Laundry Facilities
  • Security System
  • Recycling

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 4 $1,368 475 - 550
1+1 8 $1,529 650
2+1 2 $2,527 800
2+2 22 $2,040 805

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2249-021-022
Land Assessment
$4,199,600 (2024)
Improvements Assessment
$6,299,400 (2024)
Total Assessment
$10,499,000 (2024)
Annual Taxes
$147,180 ($4.69/SF)
Tax Year
2023

zoning

Zoning Code R3
R3
  • Listing ID: 33139645

  • Date on Market: 9/11/2024

  • Last Updated:

  • Address: 14833 Magnolia Blvd, Sherman Oaks, CA 91403

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