This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Santorini Villas In Prime Sherman Oaks 4421-4427 Murietta Ave

24 Unit Block of Flats £5,526,120 (£230,255/Unit) 4.72% Net Initial Yield Sherman Oaks, CA 91423

Investment Highlights

  • Premier Sherman Oaks location
  • Significant rental upside (current rent/SQFT of $2.28)
  • Sparkling pool and beautiful courtyard setting
  • Excellent unit mix (all large 1 and 2-bedroom units)
  • Quintessential value-add investment opportunity
  • Steps from high-end dining and entertainment venues

Executive Summary

Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 4421–4427 Murietta Avenue, commonly known as the Santorini Villas, a prestigious opportunity to acquire a quintessential value-add property situated in one of the best rental locations in prime Sherman Oaks. The beautiful open courtyard property boasts an ideal unit mix consisting of all large 1 and 2-bedroom units. Each of the units is spacious, has a terrific floor plan, and offers an abundance of natural light. Built in 1955, the property is an ideal midcentury gem ideally positioned just steps from vibrant Ventura Blvd.
The Santorini Villas feature a unit mix of (16) 2-bedroom, 1-bathroom units and (8) 1-bedroom, 1-bathroom units. Interiors have hardwood floors (select units), spacious kitchens/bedrooms/bathrooms, and are separately metered for gas and electricity. Other property features include a well landscaped courtyard, a large sparkling pool, copper plumbing, an intercom entrance, a pitched roof, and ample on-site parking which is exempt from soft story retrofit.
Close to some of the Valley’s best dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £432,078 £21.46
Other Income £18,898 £0.94
Vacancy Loss £12,963 £0.64
Effective Gross Income £438,013 £21.75
Taxes - -
Operating Expenses - -
Total Expenses £179,059 £8.89
Net Operating Income £258,954 £12.86

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £432,078
Annual Per SF £21.46
Other Income
Annual £18,898
Annual Per SF £0.94
Vacancy Loss
Annual £12,963
Annual Per SF £0.64
Effective Gross Income
Annual £438,013
Annual Per SF £21.75
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £179,059
Annual Per SF £8.89
Net Operating Income
Annual £258,954
Annual Per SF £12.86

Property Facts

Price £5,526,120
Price Per Unit £230,255
Sale Type Investment
Net Initial Yield 4.72%
Gross Rent Multiplier 12.18
No. Units 24
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.57 AC
Building Size 19,660 SF
Average Occupancy 92%
Number of Floors 2
Year Built 1955
Parking Ratio 0.92/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Disposal
  • Microwave
  • Storage Space
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Carpet
  • Freezer

Site Amenities

  • 24 Hour Access
  • Courtyard
  • Laundry Facilities
  • Picnic Area
  • Pool
  • Property Manager on Site
  • Gated
  • Grill
  • Gas Range
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 8 £1,461 692
2+1 16 £1,692 872
Walk Score ®
Very Walkable (85)
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
2271-013-011
Land Assessment
£3,076,120
Improvements Assessment
£1,339,599
Total Assessment
£4,415,719

zoning

Zoning Code R3
R3
  • Listing ID: 33840839

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 4421-4427 Murietta Ave, Sherman Oaks, CA 91423

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}