Contacts

Mike Salerno

Los Angeles - Investment Services Group

Property Details

Property Type Multi-Family
Property Size 11,764 SF
Units 16
Lot Size 0.52 Acre
Additional Rent Contact for pricing
Parking Spaces Avail. 16
Year Built 1958
Date Updated Nov 18, 2024

2 block west of Tampa, 1 block north of Victory16 units in quiet Reseda neighborhood. Twin 8 - unit buildings that are separately deeded. Huge lot - 22,859 sq. ft. with beautiful courtyard. Excellent unit mix - 8 - 1 bedroom + 1 bath and 8 - 2 bedroom + 1 bath units. The buildings were built in 1958 and there is 11,754 sq. ft. of building. Long term owner. The rents are significantly below market with over 50% upside in the rents. Onsite laundry. Individually metered for gas and electricity. New electrical panels. Because the buildings are on separately deeded parcels, an onsite manager is not required although there is one. The CAP rate increases to 4.53% without an onsite manager. There is an excellent assumable loan with Chase. The current loan balance is $1,077,393, 3.25% fixed until 02/2029. The current monthly payment is $4,942.42. The property is centrally located in the San Fernando Valley with easy freeway access. Close to California State University, Northridge, Pierce Junior College, Warner Center and the Topanga Plaza Shopping Mall. **The property can be purchased along with 19406 Gilmore Ave, 6 units located only 7 parcels from the subject property.

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Highlights

Twin 8 - unit buildings
Huge lot - 22,859 sq. ft.
Excellent unit mix (8 - 1bd+1ba & 8 - 2bd+1ba) with over 50% upside in the rents
New electrical panels
Excellent assumable loan - 3.25% fixed for 5 more years

Getting around

52/100
Walk Score ®
49/100
Transit Score ®
75/100
Bike Score ®

Powered by Walk Score ®

City Los Angeles, CA
Neighborhood Reseda
Zip Code 91335
Market Los Angeles

Points of Interest

Van Nuys

6.50 miles
Lower Tram Station

8.38 miles
Upper Tram Station

8.93 miles
Sylmar/San Fernando

9.45 miles

Mobil

0.26 miles
Arco

0.89 miles
76 Gas Station

0.93 miles
Shell

1.24 miles
7-Eleven

1.28 miles
ARCO

1.38 miles
Chevron

2.26 miles
Chargie

3.67 miles
B2 Charging Station

3.67 miles
G3 Charging Station

3.89 miles

Admissions Parking Lot 1

1.05 miles
2

1.05 miles
Vallet Parking

1.06 miles
Staff Parking

1.07 miles
Parking Lot 3

1.19 miles
Victory Parking Lot 7

1.21 miles
Parking Lot 4

1.25 miles
Performing Arts Parking Lot 6 East

1.30 miles
Stadium Parking Lot 5

1.32 miles
Performing Arts Parking Lot 6 West

1.38 miles

St. George Inn & Suites

1.11 miles
Tarzana Inn

1.16 miles
818 Hotel + Pool, Ascend Hotel Collection

1.53 miles
Extended Stay America

1.58 miles
Howard Johnson by Wyndham Reseda Hotel & Suites

1.72 miles
Home2 Suites

2.18 miles
Hilton

2.28 miles
Courtyard

2.52 miles
Warner Center Marriott

2.78 miles
Knights Inn

2.89 miles

Ross

0.05 miles
Vons

0.15 miles
Grocery Outlet

0.91 miles
Olive Food Market

1.15 miles
Sri Lankan Delight

1.23 miles
Bazaar

1.36 miles
dd's Discounts

1.39 miles
Valley Marketplace

1.42 miles
Food 4 Less

1.42 miles
Albertsons

1.47 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

6500-10 Shirley Ave