4556 Vista Del Monte Ave, Sherman Oaks, CA 91403

Property Description

This 8-unit, prime value-add property is located North of Ventura Blvd in the highly desirable Sherman Oaks neighborhood, adjacent to Studio City, Valley Glen, and Valley Village. 4556 Vista Del Monte Ave comprises eight 1-bedroom + 1-bathroom units, a total living area of 5,782 sqft, and is situated on an LAR3 Zoned 6,248 sqft lot. This offering presents a rare opportunity for investors to acquire an excellently located apartment building to reposition and upgrade to obtain market premium rents to stabilize at a 5.7%+ Cap rate | 12.9 GRM with the potential to scale and reduce expenses to achieve an even higher rate of return.Investors seeking an asset to employ a value-add strategy can promptly reposition the asset and achieve a higher yield. Four vacant units will allow investors to decide on their own finishes and styles and set market rents. The units are all separately metered for electricity and gas, and the property has a shared laundry room (leased machines). There are 8 tuck-under carport spaces providing easy access for tenants, as well as a private terrace overlooking Hortense St for tenants to use as a common area. With an excellent walk score of 84, this area of Sherman Oaks is a paradise for pedestrians. You can leave your car parked and take a walk down Ventura Blvd to enjoy the city's vibrant atmosphere with plenty of dining, shopping, and employment opportunities nearby. There is also easy access to public transportation and parking, which enables residents to get to offices and businesses nearby with shorter commute times to Studio City, DTLA, and Hollywood.