31 Units | Sylmar | Seller Exchanging Out of State
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The successful sale of 13922 Sayre Street located in Sylmar, California.
Property Overview
This 31-unit, two-story subject property constructed in 1964 sits on a 33,214 square foot parcel (.76 acres), and consists of three 1 Bedroom / 1 Bathroom units, and twenty-eight 2 Bedroom / 1 Bathroom units. The property also includes a private swimming pool for the tenants’ use, which is an attractive amenity for tenants with children, especially in the Summertime when the weather in Sylmar gets warm. The Sellers of the property took on some recent capital expenditures in the past couple of years as well. These improvements include updated electrical systems for the units in need, and the installation of a new roof in February of 2021. The Sellers also re-paved both of the on-grade parking lots located on the premises, which account for all 31 tenant parking spaces.
Deal Story
In August of 2021, a good client of ours reached out to us and asked for an opinion of value on this Sayre Street property that he bought in 1995, 27 years ago, for the low price of $430,000. After analyzing the property's historic financials and the recent sale comps, we advised the seller to list the property at $7.6M with an expected sales range between $7.5M - $7.65M.
The successful sale of 13922 Sayre Street located in Sylmar, California.
Property Overview
This 31-unit, two-story subject property constructed in 1964 sits on a 33,214 square foot parcel (.76 acres), and consists of three 1 Bedroom / 1 Bathroom units, and twenty-eight 2 Bedroom / 1 Bathroom units. The property also includes a private swimming pool for the tenants’ use, which is an attractive amenity for tenants with children, especially in the Summertime when the weather in Sylmar gets warm. The Sellers of the property took on some recent capital expenditures in the past couple of years as well. These improvements include updated electrical systems for the units in need, and the installation of a new roof in February of 2021. The Sellers also re-paved both of the on-grade parking lots located on the premises, which account for all 31 tenant parking spaces.
Deal Story
