6251 Reseda Boulevard

    Tarzana, CA 91335
    • $11,250,000
    • STATUS: Closed
    • ON SITE: 372 days
    • ID#: 17293470
    Sold - 04/13/2018
    $11,250,000
    SOLD - 04/13/2018
    • 0
      BEDS
    • 1.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Value-Add Opportunity. Approx. 28% upside potential. 6251-6267 Reseda Blvd, Tarzana, CA 91335 with APNs 2127-012-007 and 2127-012-008 is a 52-unit apartment property located in the San Fernando Valley neighborhood of Tarzana, just one mile north of Ventura Boulevard. Built in 1960, the Property has been owned by the same family for almost 20 years. The current ownership lightly upgraded a handful of units with new laminate flooring and paint and achieved significantly higher rents. If a buyer were to upgrade the units further and bring all the tenants to market, the upside potential is approximately 28% and the cash-on-cash return is approximately 5%. Reseda Gardens features a swimming pool and a well-manicured lawn in a courtyard-style building. The community is gated with carport parking. Two units feature central heat and air and some units have a balcony or patio. Priced below replacement costs. 3 min drive to 101 Frwy, 5 min drive to Ventura Blvd. 3 min walk to Metro Orange.

    Sold by Laurie Lustig BRE#00979360 of Laurie J. Lustig.

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    Based on information from CARETS as of 2018-12-09T17:45:12.8. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.lydiagable.com/homes/79114307

    6251 Reseda Boulevard Tarzana, CA 91335

    • Price: $10,500,000
    • Status: Closed
    • Updated: 78 min ago
    • ID#: 17293470
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.35
    Acres
    1960
    Built
    Neighborhood:
    Tarzana (Tar)
    County:
    Los Angeles
    Area:
    Tarzana (Tar)
    Property Description
    Value-Add Opportunity. Approx. 28% upside potential. 6251-6267 Reseda Blvd, Tarzana, CA 91335 with APNs 2127-012-007 and 2127-012-008 is a 52-unit apartment property located in the San Fernando Valley neighborhood of Tarzana, just one mile north of Ventura Boulevard. Built in 1960, the Property has been owned by the same family for almost 20 years. The current ownership lightly upgraded a handful of units with new laminate flooring and paint and achieved significantly higher rents. If a buyer were to upgrade the units further and bring all the tenants to market, the upside potential is approximately 28% and the cash-on-cash return is approximately 5%. Reseda Gardens features a swimming pool and a well-manicured lawn in a courtyard-style building. The community is gated with carport parking. Two units feature central heat and air and some units have a balcony or patio. Priced below replacement costs. 3 min drive to 101 Frwy, 5 min drive to Ventura Blvd. 3 min walk to Metro Orange.
    Exterior Features

    Common Walls Attached Covered Spaces Total 59 Entry Location Ground Level - No Steps Parking Spaces Total 59 Parking Type Carport Paved YN Y Pool Descriptions Fenced

    Interior Features

    Cooking Appliances Built-In Bbq Cooling Type Window Unit(S) Heating Type Wall Heater Laundry Locations Community Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 2.0 Unit Number Of Bed01 1 Unit Number Of Bed02 2 Unit Number Of Bed03 3

    Property Features

    Adjusted Gross Income 796409.00 Cap Rate 4.05 Country United States Of America Expense Actual Annual Vacancy 0.00 Expense Total Annual 347521.00 Garage Income 1800.00 Gross Operating Income 772925.00 Gross Rent Multiplier 13.20 Hoa YN N Land Lease Type Fee Laundry Income 7015.0 Legal Disclosures Take Property As IsRent Control Lot Size Source Public Records Net Operating Income 425404.00 Number Of Buildings 2 Security Safety Gated Community Special Conditions Standard Sale Unit Monthly Rent01 1475.00 Unit Monthly Rent02 1595.00 Unit Monthly Rent03 1710.00 Unit Projected Total Monthly Rent01 0.00 Unit Projected Total Monthly Rent02 0.00 Unit Projected Total Monthly Rent03 0.00 Unit Total Monthly Rent01 0.00 Unit Total Monthly Rent02 0.00 Unit Total Monthly Rent03 0.00 Unit Type01 28 Unit Type02 20 Unit Type03 4 Units Total In Complex 52 Zoning Lar3

    Listing provided courtesy of Laurie Lustig DRE#00979360 of Laurie J. Lustig.


    Based on information from CARETS as of 2018-12-09T17:45:12.8. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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    Westlake CA, 91361