13103 Moorpark Street, Sherman Oaks, CA 91423

$1,445,000

Property Type: Residential Income Bedrooms: 10 Baths: 5 Square Footage: 3,692 Lot Size (sq. ft.): 7,116 Status: Closed

Current Price: $1,445,000 List Date: 3/24/2023 Last Modified: 6/28/2023

Overview

Description

We are excited to present this 5-unit opportunity with huge potential, situated in a Prime Sherman Oaks/Studio City location near the historic Ventura Blvd with shops, dining, fun nightlife, Universal City, and The Getty Center. A hop, skip and jump to the neighborhood coffee hangout - M Street Cafe, or the newly remodeled shops and restaurants at the Sportsman Lodge, and two blocks from a tree-lined river walk and bike path. This complex is being brought to the market for the first time in 31 years; this building is home to incredible tenants, some of who have been there for 20+ years. This complex was built in 1951 and is 3,692 sqft with ten bedrooms and five baths, sitting on an approximately 7,116 sqft lot. Currently bringing in $8,574/ month in rent (one vacant unit) with a pro forma of $11,200/ month in total rent. Units are private and quaint and are built condo style, each with its own address. Rarely is there a vacancy available. It has one single-story unit on Moorpark and fo ... (Read more) We are excited to present this 5-unit opportunity with huge potential, situated in a Prime Sherman Oaks/Studio City location near the historic Ventura Blvd with shops, dining, fun nightlife, Universal City, and The Getty Center. A hop, skip and jump to the neighborhood coffee hangout - M Street Cafe, or the newly remodeled shops and restaurants at the Sportsman Lodge, and two blocks from a tree-lined river walk and bike path. This complex is being brought to the market for the first time in 31 years; this building is home to incredible tenants, some of who have been there for 20+ years. This complex was built in 1951 and is 3,692 sqft with ten bedrooms and five baths, sitting on an approximately 7,116 sqft lot. Currently bringing in $8,574/ month in rent (one vacant unit) with a pro forma of $11,200/ month in total rent. Units are private and quaint and are built condo style, each with its own address. Rarely is there a vacancy available. It has one single-story unit on Moorpark and four two-story units on Ethel. The two-story units have a living space, dining area, full kitchen, and slider out to the pool on the main floor. As you go up the stairs, you will find two bedrooms and one bathroom in the hallway. 4409 Ethel: This unit is currently vacant, and last year they upgraded the full bathroom and kitchen cabinets and replaced the carpet. A new dual air and heating unit was added to the front window as well as one of the bedrooms upstairs. They also upgraded the heating wall unit on the stairs. 4411 Ethel: This past year, the whole unit was upgraded with laminate flooring and a fresh coat of paint. In January, a new dual air and heating unit was installed in the front window, and an upgraded heater for the stairs was ordered and will be installed once received. 4413 Ethel: This unit had laminate flooring installed less than five years ago on the main floor. The stairs are carpeted, the bathroom is tiled, and the bedrooms have laminate flooring. 4415 Ethel: This unit has laminate flooring in the living area and stairs, tile for kitchen floors, and the original hardwood flooring upstairs. A new stove was installed in 2022. 13103 Moorpark: This is the only single-story unit. It has a private front yard which the client loves. As you enter the home, there is a large living area with beautiful wood-paneled ceilings. The kitchen, which has a newer stove/oven, has views of the pool and is right next to the slider, which leads you to the pool area. There is one bedroom in the front with a long hallway that features storage and shelves. At the back of the unit is the second bedroom and the full bathroom with a bathtub and standing stall shower. Only the exterior and 4409 Ethel are featured in the photographs. To secure the tenants' privacy, we have photos of the other units available upon request and further interest. The laundry room features one washer and dryer and is open to clients on-site. Each unit has one parking spot behind the unit and a security gate for the resident's protection. This is an excellent opportunity for investors, buyers, and builders in a prime Sherman Oaks/Studio City location! Dry rot woodwork has been completed. The eaves and window trims have been freshly painted. The seller has a deposit with a roofing company to tune up the flat roof on the building and carports. They will Seal lap joints using APOC 264 white mastic and seam tape, Seal all roof penetrations using APOC 264 white mastic, apply one coat base coat primer / bleed blocker, and apply two coats of acrylic elastomeric coating and will provide a 5-year warranty.

Listing Details MLS# 223001027

General Property Information

Baths Full: 5
Living Area: 3692
Lot Size Acres: 0.16
Lot Size Square Feet: 7116
Year Built: 1952
Common Walls: Yes

Property Features

Land Lease Type: Fee Simple Special Conditions: Standard Terms: Cash; Cash to New Loan; Conventional; Other Possession: Close of Escrow Lot Location: Corner Lot View Type: No View Disclosures: None Levels: One; Two Appliances: Dryer; Washer Bedroom Features: All Bedrooms Up; Main Floor Master Bathroom Features: Shower Over Tub; Shower Stall Doors: Sliding Glass Door(s) Flooring: Carpet; Laminated Cooling Type: Wall Unit(s) Pool Construction: In Ground Interior Features: Cathedral Ceiling(s); Vaulted Ceiling(s) Laundry Locations: Individual Room; Laundry Area Water Heater Feature: None Parking Type: On Street Landlord Pays For: Water

Listing Location and Property Info

Listing Contract Date: 2023-03-17
Street #: 13103
Street Name: Moorpark
Street Suffix: Street
County: Los Angeles
State: CA
Postal Code: 91423
Parcel Number: 2360029037
MLS Area: SO - Sherman Oaks
Subdivision: Other
Country: US

Listing Info

Total # of Units in Complex: 5

Property Info

Stories: 2
Pool: Yes
Spa: No
Fireplace: No

Status Change Info

Purchase Contract Date: 2023-06-09
Close Date: 2023-06-27
Close Price: 1445000
Sold Price/SqFt: 391.39

More Information

Units Information

Number of Units Leased: 4
NumberOfSeparateElectricMeters: 5
NumberOfSeparateGasMeters: 5

Unit 1 Information

Unit-1 # of Beds: 2
Unit-1 # of Baths: Yes
Unit-1 Monthly Rent: 2060
Unit-1 Proj Rent/Month: 2500

Unit 2 Information

Unit-2 # of Beds: 2
Unit-2 # of Baths: Yes
Unit-2 Monthly Rent: 2300
Unit-2 Proj Rent/Month: 2300

Unit 3 Information

Unit-3 # of Beds: 2
Unit-3 # of Baths: Yes
Unit-3 Monthly Rent: 1300
Unit-3 Proj Rent/Month: 2300

Unit 4 Information

Unit-4 # of Beds: 2
Unit-4 # of Baths: Yes
Unit-4 Monthly Rent: 1800
Unit-4 Proj Rent/Month: 2300

Unit 5 Information

Unit-5 # of Beds: 2
Unit-5 # of Baths: Yes
Unit-5 Monthly Rent: 1273
Unit-5 Proj Rent/Month: 2300

Listing, Location and Property Info

Zip + 4: 3306

Entry Location

Ground Level w/Steps: Yes

Bathroom Features

Shower & Tub: Yes

Flooring

Wood/Wood Like: Yes

HOA 1 Information

HOA: No

Listing Office: Keller Williams Westlake Village

Listing Agent: Mark Moskowitz Team
818-970-8773 | markm4results@kw.com

Agent Email: markm4results@kw.com

Last Updated: June - 28 - 2023

Based on information from the CSMAR Multiple Listing as of [date the AOR/MLS data was obtained]. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.