Magnolia Apartments | 14833 Magnolia Blvd
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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.
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 | Apartment Style | Low Rise |
Price Per Unit | $330,556 | Building Class | C |
Sale Type | Investment | Lot Size | 0.67 AC |
Cap Rate | 4.26% | Building Size | 31,378 SF |
Gross Rent Multiplier | 14.15 | No. Stories | 3 |
No. Units | 36 | Year Built | 1963 |
Property Type | Multifamily | Parking Ratio | 1.31/1,000 SF |
Property Subtype | Apartment |
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 |
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PROPERTY TAXES
Parcel Number | 2249-021-022 | Total Assessment | $10,499,000 (2024) |
Land Assessment | $4,199,600 (2024) | Annual Taxes | $147,180 ($4.69/SF) |
Improvements Assessment | $6,299,400 (2024) | Tax Year | 2023 |
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 |
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Magnolia Apartments | 14833 Magnolia Blvd
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