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Tarzana | 10.9 GRM | Attractive $/Unit & $/SF 6225 Reseda Blvd

30 Unit Apartment Building $6,200,000 ($206,667/Unit) 4.41% Cap Rate Tarzana, CA 91335

INVESTMENT HIGHLIGHTS

  • Substantial Rent Upside – Current Rents Approximately 49% Below Market Rates
  • Rare Opportunity to Enter Tarzana Multifamily Market – Only Seven Properties Have Sold in Past Three Years (Source: CoStar COMPS)
  • Outstanding Opportunity to Benefit from Recent Woodland Hills & Warner Center Developments, Without Paying Premium Prices Those Neighborhoods Command
  • Attractively Priced at Only $206,667 per Unit and $241 per Square Foot
  • Excellent Unit Mix – Mostly Two-Bedroom Apartments
  • Approximately Four Miles from Proposed Promenade 2035 Development – 3,200,000 Square Foot Mixed-Use Sports and Entertainment Complex

EXECUTIVE SUMMARY

Marcus & Millichap is pleased to announce the opportunity to purchase 6225 Reseda Boulevard, a 30-unit multifamily property located in Tarzana, CA. Constructed in 1962, the two-story building features an attractive unit mix containing mostly two-bedroom units. Current rents sit well below local market rates, allowing a new owner the potential to capitalize on approximately 49% in rent upside. Properties in the Tarzana submarket rarely become available, as only seven such buildings have sold within the past three years, according to CoStar COMPS.
Given the recent and continuing development boom in neighboring Warner Center and Woodland Hills, this asset would allow an investor to take advantage of those new and upcoming amenities, albeit at a lower price point. Over the past three years, the average sales price per unit in Woodland Hills has been over $430,000 per unit, whereas Tarzana sales have averaged only $259,207 per unit. CAP Rates in Tarzana have also been approximately 51 basis points higher than in Woodland Hills, allowing Tarzana owners to earn greater returns on their investments despite the immediate proximity of the two neighboring cities.
Situated near the intersection of Oxnard Street and Reseda Boulevard, the property allows residents convenient access to the new Topanga Village shopping center as well as the recently opened Topanga Social premium food hall. Adjacent to the upcoming Los Angeles Rams practice facility at 21555 Oxnard Street, team owner Stan Kroenke holds land entitled for a potential 35-acre mixed-use development. Proposals for the site show 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units. The $1 billion project would provide a significant amenities boost to the already thriving neighborhood, all of which benefits investors in the immediate area.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

PROPERTY FACTS

Price $6,200,000
Price Per Unit $206,667
Sale Type Investment
Cap Rate 4.41%
Gross Rent Multiplier 10.99
No. Units 30
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.74 AC
Building Size 25,718 SF
No. Stories 2
Year Built 1962
Parking Ratio 1.17/1,000 SF

UNIT AMENITIES

  • Heating
  • Kitchen
  • Range
  • Tub/Shower

SITE AMENITIES

  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 2 - 450
1+1 8 - 550
2+1 10 - 900
2+1.5 6 - 950
3+2.5 4 - 1,100
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2127-015-031
Land Assessment
$2,077,925
Improvements Assessment
$4,702,676
Total Assessment
$6,780,601
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024

ZONING

Zoning Code LAR3
LAR3
  • Listing ID: 34646060

  • Date on Market: 1/29/2025

  • Last Updated:

  • Address: 6225 Reseda Blvd, Tarzana, CA 91335

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