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$ 6,500,000
Est. payment | /mo
17,654 SqFt
$ 6,500,000
Est. payment | /mo
17,654 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 17,654 sqft
Price per Sqft $368
MLS Listing ID CL26866517
HOA Y/N No
Year Built 1957
Lot Size 0.391 Acres
Acres 0.3909
Property Sub-Type Other
Property Description
Located at 13535 Moorpark Street, the building occupies a large corner lot that spans block-to-block, with frontage on three different streets. Residents enjoy extremely convenient access to the high-end shopping and fine dining along renowned Ventura Boulevard, just one block away. The property itself has been significantly upgraded in recent years, including the completion of all seismic retrofit repairs (Buyer to verify) as well as improvements to the electrical panels, plumbing system, and landscaping. New water heaters and a remodeled outdoor seating area have both been added to the property recently, while the laundry room has been updated as well. Apartment interiors have largely been refurbished, allowing a new investor to maintain improved cash flow without the need for major capital expenditures. In fact, 75% of all units have already been upgraded, yet there still remains approximately 21% in rent upside for a new owner to recapture. Located near the intersection of Woodman Avenue and Ventura Boulevard, the property is situated on the corners of Moorpark Street, Allott Avenue, and Rye Street. In addition to being just one block from Ventura Boulevard, tenants are also walking distance from the Westfield Fashion Square. The new 93,000 square foot Shops at Sportsmen's Lodge, including a large Erewhon location, are just one mile from the property, helping to attract higher-paying tenants to the building.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2360004016
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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