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$ 5,125,000
$ 5,350,000 4.2%
Est. payment | /mo
6 Beds
19 Baths
9,560 SqFt
$ 5,125,000
$ 5,350,000 4.2%
Est. payment | /mo
6 Beds
19 Baths
9,560 SqFt
Key Details
Sold Price $5,125,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 9,560 sqft
Price per Sqft $536
MLS Listing ID 24392519
Sold Date 10/22/24
Bedrooms 6
HOA Y/N No
Year Built 1964
Lot Size 8,141 Sqft
Acres 0.1869
Property Description
15285 Sutton Street is a 19-unit apartment community located in a premier Sherman Oaks neighborhood. The building is on a tree-lined street and boasts great freeway access to the 405. The offering allows investors to acquire an irreplaceable turn-key asset in one of LA's most dynamic and stable markets. The property is well-maintained and has incredible curb appeal. The unit interiors offer a blend of midcentury style with modern convenience. Their vintage style offers ample cabinet and storage space in their open layout. Many units have a balcony with great natural light throughout. Ownership has just completed the buildout of three brand-new ADUs, totaling 1,416 additional square feet. The designs are modern, with brand-new bathrooms, kitchens, appliances, flooring, and sleek fixtures. Ownership has achieved great rents and set a model for future income.15286 Sutton Street is being offered for sale at a 6.2% Cap Rate and 11.2 GRM. The property is master-metered for electricity, water, and gas. Current ownership has implemented a RUBs System (Ratio Utility Billing System). The property is well-parked, with 15 onsite parking spaces. Soft-Story retrofit was completed in 2019. This building is located right off Sepulveda, two blocks south of Ventura Boulevard. It is close to Whole Foods, Blue Dog Tavern, Sherman Oaks Galleria, 24-Hour Fitness, and Yoga Studios, making it super convenient for tenants. With its prime location in Sherman Oaks, 15286 Sutton Street is an outstanding rental location for residents looking for immediate access to major employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.
Location
State CA
County Los Angeles
Area So - Sherman Oaks
Zoning LAR4
Interior
Fireplace No
Exterior
Total Parking Spaces 15
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2276042006
Special Listing Condition Standard
Listed by Nick Astrupgaard • KW Commercial Studio City
Bought with Lori Michell Marks • Douglas Elliman Of California
Bought with Lori Michell Marks • Douglas Elliman Of California
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "