15141 Burbank BLVD Sherman Oaks, CA 91411

We are proud to exclusively present for sale 15141 W. Burbank Blvd. in North Sherman Oaks. Built in 1984, this Non-Rent Controlled Apartment Building features 18* Units with a great mix of eleven 2 bedroom homes, six 1 bedroom homes (four of those with a loft) and one studio. This property has been meticulously maintained by the current, long-term owners. Ownership did not lease up any vacancies due to Covid, so there are currently 5 vacant units ready to be leased! There is additional square footage in the parking level (off of the Laundry Room) that was previously used as a Spa Room (with existing jacuzzi-style tub in the ground) that is currently being used for storage. The Storage/Spa Room has a large patio at one end of the room, so it could easily and attractively be turned into an ADU. Due to existing vacancies, there is currently no onsite property manager, so converting the storage space into a legal unit could house an onsite manager while improving income further. The property is located less than half a mile to the edge of the Sepulveda Basin Recreation Area, with around 2,000 acres that include Woodley Park (with The Japanese Garden), Lake Balboa Park, Sepulveda Basin Wildlife Reserve, Sepulveda Dam Recreation Area Bike Path, Sepulveda Basin River Recreation Zone, Balboa Sports Complex, Hjelte Sports Center, Sepulveda Garden Center, Encino Golf Course, Balboa Golf Course, and Woodley Lakes Golf Course. With easy access to the 405 and 101 Freeways, Costco, Target, Supermarkets, Restaurants and just about anything else that your tenants could possibly need, this building will make your tenants happy to stay! Priced at a 4.09 Cap & 15.19 GRM (using market rents for vacancies), $416k per door and $469 PSF, this property is a perfect investment for those looking for a stable performer. *The Certificate of Occupancy lists 17 Units. Building appears to have one unit chiseled out of existing square footage. Zoning (counting half the Alley) allows for 17.97 Units.