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Add Value Buyer Opportunity! Significant upside by adding 2 x 1BR ADUs (Seller has secured approved plans and permits). Rare LAR3 Zoning. Located in prime Sherman Oaks, just North of Ventura Blvd, this property offers close proximity to the 101 and 405 freeways, shopping malls, markets, and public transportation. Featuring 4 x 2 BR units with hardwood floors, living and dining breakfast areas and patios. Community laundry onsite. Each of the 2 BR units are approximately 900 sq ft, while each of the 1 BR ADUs are approximately 650 sq ft. With the addition of the ADUs, the NOI becomes $150,859, CAP Rate 8.63 and GRM 9.11. Seller has already remodeled a 2 BR unit, with upgrades including in-unit washer and dryer and a private backyard. Property has a Four-car garage + driveway parking. Other improvements include solar panels and newer electrical and plumbing systems.
Property Type(s):
Residential Income
| Last Updated | 3/5/2025 | Year Built | 1955 |
|---|---|---|---|
| Community | Sherman Oaks | County | Los Angeles |
Price History
| Prior to Mar 5, '25 | $1,749,000 |
|---|---|
| Mar 5, '25 - Today | $1,699,000 |
Additional Details
| AREA | Sherman Oaks |
|---|---|
| GARAGE | Community Structure, Covered, Driveway, Yes |
| HEAT | Wall Furnace |
| LOT | 6503 sq ft |
| PARKING | Covered,Driveway,Community Structure |
| STORIES | 2 |
| ZONING | LAR3 |
Location
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Listed with Berkshire Hathaway HomeServices California Properties
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