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14 UNITS IN PRIME SHERMAN OAKS 13506 Rye St

14 Unit Block of Flats £3,882,829 (£277,345/Unit) 4.25% Net Initial Yield Sherman Oaks, CA 91423

Investment Highlights

  • Well-maintained building - Vibrant courtyard with picnic area
  • Completed soft story retrofit - Potential to add ADU unit
  • Located in prime area of Sherman Oaks within a private cul de sac
  • On-site laundry facilities - New windows
  • New exterior paint - Copper plumbing - buyer to verify
  • New Front entry doors for all units - Decking recently painted

Executive Summary

Nestled in a private cul de sac between Rye St. and Ventura Canyon Ave., 13506 Rye Street is a multi-family building that offers the valuable opportunity to own a well-maintained building in the San Fernando Valley’s trendy city of Sherman Oaks.
Comprised of 14 units, the property boasts a total of 11,156 rentable square feet. There are two studios, two one-bedroom/one-bathroom junior units, six one bedroom/one bathroom units, one two-bedroom/one-bathroom unit, one two-bedroom/one and one half bath unit, one three-bedroom/two-bathroom unit, and a larger three-bedroom/two-bathroom unit with private entrance, central a/c, hardwood floors and private laundry. All unit interiors feature modern appliances, ceramic and travertine tiles, custom closets and sleek design. Furthermore, the building is master metered for gas and individually metered for electricity.
In the heart of Sherman Oaks, 13506 Rye Street is close to dozens of shops, eateries and galleries on the historic Ventura Boulevard. Also within a short distance is the Sherman Oaks Galleria, an icon in San Fernando Valley history that has evolved into a hot spot of award-winning restaurants and a unique collection of design and home furnishing stores. The District’s notable amenities include Arclight Cinemas, Burke Williams, 24 Hour Fitness SuperSport and much more opportunity.

Property Facts

Price £3,882,829
Price Per Unit £277,345
Sale Type Investment
Net Initial Yield 4.25%
Gross Rent Multiplier 14.94
No. Units 14
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class B
Lot Size 0.30 AC
Building Size 11,156 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1959
Parking Ratio 1.25/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Microwave
  • Heating
  • Wooden Floors
  • Refrigerator
  • Oven
  • Tub/Shower

Site Amenities

  • Courtyard
  • Laundry Facilities
  • Picnic Area

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 2 - 533
1+1 8 - 708
2+1 1 - 987
2+1.5 1 - 987
3+2 2 - 1,275
Walk Score ®
Very Walkable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2360-014-026
Land Assessment
£2,144,666
Improvements Assessment
£1,715,733
Total Assessment
£3,860,399

zoning

Zoning Code R3, Los Angeles
R3, Los Angeles
  • Listing ID: 32555757

  • Date on Market: 23/07/2024

  • Last Updated:

  • Address: 13506 Rye St, Sherman Oaks, CA 91423

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