13266 Foothill Blvd, Sylmar, CA 91342
- $7,300,000
- 50
- BD
- 50
- BA
- 28,285
- SqFt
- Sold Price
- $7,300,000
- List Price
- $7,500,000
- Closing Date
- May 28, 2021
- MLS#
- 21-707088
- Status
- SOLD
- Type
- Multifamily
- Bedrooms
- 50
- Bathrooms
- 50
- Living Area
- 28,285
Property Description
We are pleased to present this 28-unit value-add apartment building located at 13266 Foothill Boulevard, in the 91342 zip code of Sylmar, CA. This pocket of Sylmar is one of the most rapidly improving areas of the East San Fernando Valley and is home to a number of new exciting developments. The most exciting of which being the new East San Fernando Valley LRT (Light Rail Transit) project which will include 14 on-grade stations arranged to easily connect the East and West Valley, and allowing easy connections to Westside cities and DTLA. The subject property also resides within close proximity to numerous retail centers and restaurants, making life easy for tenants to accomplish all of their day-to-day tasks. The vast majority of units have recently undergone significant interior upgrades as well. These upgrades include new A/C units, Kitchen Ranges, Dishwashers, as well as new kitchen countertops in a few. Built in 1985, the subject property offers the new investor a great opportunity to add value by increasing rents 5% + CPI year-over-year per the new California law AB-1482. Additionally, the implementation of the RUBS program would increase the NOI in the future as it would help to minimize the costs associated with LADWP, city trash, and utilities.
Additional Information
- Year Built
- 1985
- View
- Any
- Garage
- Carport, Carport Attached, Direct Entrance, Attached, Covered Parking
Mortgage Calculator
Courtesy of Marcus & Millichap, Filip Niculete. Selling Office: .
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