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We are pleased to present the opportunity to acquire a high yield, partially renovated, multifamily asset in prime location Reseda bordering the most desirable neighborhoods in the San Fernando Valley including Calabasas, Tarzana, Encino, and West Hills. 19344 Wyandotte St consists of 57 units, roughly 20 of which have been renovated allowing for notable additional upside in income upon turnover of the remaining unrenovated units. The asset consists of oversized square footage units compromised of primarily 2 bedroom units, while also consisting of a healthy assortment of Studios, 1 Beds, and 3 Beds. The average unit size is 881 square feet based on title records of 50,191 gross building square footage. Ownership will find long term benefit in acquiring an asset at notably below replacement cost of $299 per sqft. The majority of units possess a private small porch or balcony for tenant enjoyment along with 60+ covered parking spaces with small storage lockers at the rear of each parking space. Current gross annual income totals $1,456,117 with a potential full market annual income of $1,865,000+. The $877,925 in-place net operating income yields a 5.85% with potential to achieve a 8.43% cap rate upon renovation of remaining units and full market rents. Additionally, ownership has seen lower than traditional vacancy operations due to attractive asset grounds and micro location adjoining to the low density single family neighborhood.
Property Type(s):
Residential Income
| Last Updated | 4/30/2025 | Year Built | 1964 |
|---|---|---|---|
| Community | Reseda | County | Los Angeles |
Additional Details
| AREA | Reseda |
|---|---|
| HOA DUES | 0 |
| LOT | 1.29 acre(s) |
| LOT DESCRIPTION | 36-40 Units/Acre |
| POOL | Yes |
| POOL DESCRIPTION | Community |
| SEWER | Public Sewer |
| STORIES | 2 |
| ZONING | RD 2-1 |
Location
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Listed with Commercial Asset Advisors
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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