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Listed by John Boyett • Datashare CR Default Office Don't Delete
$6,950,000
Est. payment /mo
22,154 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 22,154 sqft
Price per Sqft $313
MLS Listing ID CL25514793
HOA Y/N No
Year Built 1990
Lot Size 0.593 Acres
Property Sub-Type Other
Source Datashare CLAW
Property Description
We are pleased to present a rare opportunity to acquire 18621 Saticoy St, a well-maintained 26-unit apartment building, available for the first time since its construction in 1990. Ideally positioned between Reseda Boulevard andWilbur Avenue, this property is situated in the highly sought-after Reseda rental market a prime location with strong tenant demand.Spanning a 25,807-square-foot lot with 22,150 square feet of gross building area, the property features a highly desirable unit mix of two (2) one-bedroom, one-bathroom units, sixteen (16) two-bedroom, two-bathroom units, and eight (8)three-bedroom, two-bathroom units, offering significant rental income potential.The average unit size is 852 square feet. Residents enjoy access to premium amenities, including a swimming pool, an on-site laundry facility, six guest parking spaces, and 48 gated tuck-under parking spots.Built in 1990, the property is not subject to Los Angeles City rent control and instead falls under AB 1482, allowing annual rent increases of 5% plus CPI. Current rents are approximately 22% below market, presenting a compelling value-add opportunity for investors. Reseda's strong employment base and consistent demand for quality rental housing further enhance the investment appeal.
Location
State CA
County Los Angeles
Interior
Fireplace No
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