Listed by Matthews
$7,650,000
7635 Lankershim Blvd
Details
APN 2317-008-016
Property Type Multifamily
Sub Type Apartment Building
Square Footage 23,236
Units 36
Cap Rate 6.36%
Pro-Forma NOI $801,975
Price per SqFt $352
Class C
Year Built 1986
Buildings 2
Acreage 0.600
Multifamily | 36 Units | $227,778/Unit
Investment highlights
- Generational Asset: First sale since 1986.
- Efficient Unit Mix: 36-unit apartment community with an efficient (36) 1-bedroom / 1-bathroom unit mix.
- ADU Conversion Opportunities: Two potential conversion opportunities for additional units, includes a former recreation room (currently used as a manager office) and a ground floor storage area, both offering potential to be converted into additional units.
- Retail Proximity: Nearby NoHo West retail center with shopping, dining, and entertainment options.
- Solar Power System: Onsite solar power system generates energy to support a thermal water heating system with storage that services the property.
- Newer Construction: Constructed in 1986, offering relatively newer improvements compared to much of the surrounding housing stock.
- Utility Reimbursement: Ownership has implemented a Ratio Utility Billing System (RUBS) program, allowing for the reimbursement of utility expenses and providing an opportunity to enhance operational efficiency and income stability.
Listing Contacts
Listed by Matthews
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Zoning
C2-1VL-CUGU OverlayCommercial Very Limited Height Clean Up Green Up Overlay
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