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Due to its construction in 1987, the property is not subject to Los Angeles rent control and instead allows for higher annual rent increases via AB 1482. Given its attractive 6.46% CAP Rate, the asset offers an investor both strong immediate cash flow as well as the opportunity to increase future income more rapidly without the restrictions of Los Angeles rent control. With spacious one-bedroom floorplans averaging approximately 875 square feet each, the property can more easily attract higher-paying tenants. Its array of desirable amenities, including central air/heat, private balconies, and on-grade garage parking, allow the building to achieve more premium rents than competing apartments in the local area. Several of the units have already been thoroughly upgraded, saving an owner from future renovation costs while providing a clear blueprint for remodeling the remaining apartments. Interior upgrades in renovated units include wood flooring, stone countertops, stainless steel appliances, recessed lighting, and new ceiling fans. The building does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list, saving an investor from an otherwise costly maintenance expense. Located near the intersection of Sherman Way and Haskell Avenue, the property offers residents incredibly easy access to the 405 Freeway, connecting tenants to various job centers and retail destinations throughout the San Fernando Valley and Greater Los Angeles Metro area.
Property Type(s):
Residential Income
| Last Updated | 6/12/2026 | Year Built | 1987 |
|---|---|---|---|
| Community | LKBL - Lake Balboa | County | Los Angeles |
Additional Details
| AREA | LKBL - Lake Balboa |
|---|---|
| LOT | 6765 sq ft |
| LOT DIMENSIONS | 6764 |
| PARKING | Assigned |
| STORIES | Split/Multi Level |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. 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. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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