Listed by Marcus & Millichap - Los Angeles
$3,750,000
6632 Darby Avenue
Details
APN 2125-017-009
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,751
Units 19
Cap Rate 6.07%
NOI $227,586
Occupancy 100%
Pro-Forma Cap Rate 10.80%
Pro-Forma NOI $404,973
Price per SqFt $238
Year Built 1963
Buildings 1
Stories 2
Lot Size (SqFt) 18,389
Zoning LAR3
Ownership Fee Simple
Multifamily | 19 Units | $197,368/unit
Marketing description
The Azzi Group of Marcus & Millichap is pleased to present the opportunity to acquire 6632 Darby Avenue, a 19-unit investment opportunity located in Reseda, CA 91335.
The San Fernando Valley, often called “the Valley,” is a vibrant region in Los Angeles known for its suburban neighborhoods, diverse communities, and easy access to both urban amenities and outdoor recreation
6632 Darby Ave is located in the Reseda neighborhood of the San Fernando Valley area in Los Angeles, California. Reseda is known for its suburban feel,
diverse community, and easy access to shopping, parks, and schools. The neighborhood is also close to major thoroughfares like the 101 and 405 freeways,
making commuting throughout the valley and greater Los Angeles area convenient
Investment highlights
- Prime San Fernando Valley Location: Positioned in a high-demand Reseda rental corridor near CSUN, medical centers, retail, and major transit, supporting strong leasing velocity and durable rent demand.
- ~52.43% Rental Upside: In-place rents are materially below market, offering a clear and measurable value-add opportunity through interior upgrades and rent repositioning to unlock significant NOI and valuation growth.
- Attractive Basis + Strong Fundamentals: 6632 Darby Ave sits ~25–28% below the San Fernando Valley average (~$286K/unit as of Q2 2025), below the LA County range (~$272K–$293K/unit), and ~37% under current Reseda ~$391/SF levels — while still offering ~52.43% rental upside
- Desirable Unit Mix: A strong configuration of (11) 1BD/1BA units, (7) 2BD/2BA units, and (1) 3BD/2BA unit, appealing to a broad tenant base and supporting leasing stability and rent premiums.
- Strong Additional Income Stream: The property generates approx. $21,000 annually in ancillary income through RUBS reimbursements, laundry revenue, additional rents, and parking, enhancing cash flow and boosting return on cost beyond standard rent collections
- Stabilized Occupancy + Market Strength: Strategically located near major infrastructure investment, including the East San Fernando Valley Light Rail Transit Project (opening ~2031), which will enhance regional connectivity and support long-term demand in a mature rental market with historically low vacancy, positioning the asset to outperform over the hold period.
Listing Contacts
Listed by Marcus & Millichap - Los Angeles
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$227,586.00
$18,965.50/mo
Valuation Metrics
0
DSCR
6.07%
Cap Rate
6.07%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Brokerage Address
Name
License
Is there information that looks off?
