4345 Ventura Canyon Avenue, Sherman Oaks, California 91423

$3,050,000

Bedrooms

9

Bathrooms

12

Square Feet

9,249 sqft

City

Sherman Oaks

Status

Active

4345 Ventura Canyon Avenue, Sherman Oaks (91423) is a 12-unit apartment building that has been operated by the same family for over 30 years. 4345 Ventura Canyon Avenue is located less than one block north of Ventura Blvd, which is considered one of the San Fernando Valley's most stable and dynamic rental markets. It offers easy access to an enormous and diverse set of employers, and the immediate area has historically provided investors with exceptional long-term capital appreciation and wealth preservation. 4345 Ventura Canyon Avenue was built in 1957 and comprises 9,249 SF of improvements on a 13,050-square-foot parcel, zoned LAR3. It features oversized apartments and a diverse unit composition of 2 (two) 2-bedroom/1-bathroom units, 4 (four) 1-bedroom/1-bathroom units, and 6 (six) single-apartment units. The units surround a common-area courtyard with mature landscaping and generous shading, and tenants have access to an on-site laundry room. In recent history, the current ownership has overseen a major improvement of four units. Unit upgrades include new attractive flooring, new stylish fixtures, and updated bathrooms and kitchen. Parking is provided for 12 vehicles. The LA City-mandated soft-story retrofit was completed in 2019. The property is individually metered for gas and electricity, keeping owner expenses low. 4345 Ventura Canyon Avenue has a Walk Score of 88 out of 100. This location is Very Walkable, so most errands can be accomplished on foot. Sherman Oaks is one of LA's most stable and desirable suburban neighborhoods. Furthermore, the subject property offers residents access to a myriad of entertainment venues, travel corridors, and dining options in and around the surrounding neighborhoods. Given the property's prime location and significant value-add component, the offering provides an opportunity for outstanding long-term income growth and unparalleled capital preservation.