4535 Murietta Ave
The LA Apartment Advisors are pleased to present this beautifully remodeled 13-unit building located at 4535 Murietta Avenue, Sherman Oaks, California. Built in 1965 and renovated in 2018, the offering consists of 3- One bedroom / One bathroom units, 9- Two bedroom / Two bathroom units, and 1- Two bedroom / One bathroom unit. The Property has undergone significant renovations and upgrades within the past year and a half including 5 completely turned over units, 100% permitted and completed seismic retrofit work, repaint of the entire property, upgraded all exterior lighting, complete re-landscaping, upgraded roof, etc.
This property, offered at a true 4.17% CAP rate, allows a rare opportunity for an investor to buy a turn-key property in an excellent Sherman Oaks location, that still allows for over 20% of rental upside over time. With the great income the property brings in, an investor would need an estimated 40% down payment ($1,900,000) in order to get a fully amortized loan with a 4.00% interest rate.
With a Walk Score of 81, the Property is well situated proximate to major freeways, just north of Ventura Blvd and south of the 101 freeway, less than a mile from The Westfield Fashion Square, all business corridors and dining & entertainment. A turn key property with no retrofit work necessary and significant upside, this investment presents an investor with immediate upside potential without the headache of a huge looming expense.