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$ 1,500,000
Est. payment | /mo
3 Beds
2,964 SqFt
$ 1,500,000
Est. payment | /mo
3 Beds
2,964 SqFt
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,964 sqft
Price per Sqft $506
MLS Listing ID CL26849143
Bedrooms 3
HOA Y/N No
Year Built 1976
Lot Size 8,755 Sqft
Acres 0.2
Property Sub-Type OTHER
Property Description
We are pleased to present 4747 Orion Avenue, a4-unit multifamily investment opportunity situated in the heart of Sherman Oaks, just moments from Ventura Boulevard and the101/405 interchange - one of the San Fernando Valley's most desirable and supply-constrained rental submarkets. The property features three one-bedroom/one-bath units and one two-bedroom/two-bath unit across approximately 2,964 gross square feet, sitting on a spacious 8,755 SF lot. One unit will be delivered vacant at the close of escrow, providing an incoming investor with immediate market rate income for that unit from day one. At the asking price of $1,500,000, the property is offered at$375,000 per unit and $506 per square foot at a market caprate of 4.27% and market GIM of 13.30 - representing approximately 27% revenue upside as below-market leases roll to current levels.R3-1 zoning on an 8,755 SF lot unlocks meaningful development optionality. Base density supports up to 10 units by right at 1unit per 800 SF of lot area, with additional density achievable through Density Bonus, SB 9, and state housing provisions - all of which have seen active uptake throughout Sherman Oaks. Buyer to verify. The surrounding submarket has attracted significant institutional capital, with IMT Residential's 249-unit Citrus Commons and 325-unit Via Avanti either recently delivered or nearing completion within close proximity, validating deep and sustained investor conviction in the Sherman Oaks multifamily market. Metro's East San Fernando Valley Light Rail is currently under construction along Van Nuys Boulevard, with 11 stations planned between the G Line and Pacoima. Additionally, the Sepulveda Transit Corridor - a proposed high-capacity rail connection linking the Valley to the Westside - is advancing through environmental review, with a corridor alignment running through Sherman Oaks.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating None
Cooling No Air Conditioning
Fireplace No
Building
New Construction No
Others
Tax ID 2261038042
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Listed by Neema Ahadian • Marcus & Millichap
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