Sevak Keshishian
Marcus & Millichap
818-212-2700
We are pleased to present 4528 Murietta Avenue, a 12-unit multifamily property located in the heart of Sherman Oaks. This property represents an exceptional opportunity for investment in a highly sought-after pocket of the San Fernando Valley, situated only two blocks from Ventura Boulevard. 4528 Murietta Avenue has been well maintained and is an ideal choice for investors seeking approximately 45% in rental upside through an interior renovation program. Constructed in 1956, this two-story property comprises six 1-bedroom/1-bathroom units and six 2-bedroom/2-bathroom. Three of these units have undergone renovations featuring white shaker kitchen cabinetry, stone countertops, and updated bathrooms, while most units have received new vinyl plank or wood laminate flooring. Most of the remaining units have had kitchens renovated prior to current ownership. Five of the ground floor units feature private patios while the sixth has a private yard. All the second-floor units have a living room balcony. The floorplans for 1-bedroom and 2-bedroom units are identical and units are stacked allowing for efficient plumbing upgrades. All units are equipped with central HVAC, dishwashers, fireplaces and are individually metered for gas and electricity utilities. Currently there is one renovated 1-bedroom unit that is vacant and the potential for a 2-bedroom unit to be delivered vacant at the close of escrow. The property includes 16 parking spaces and an on-site laundry room. Capital expenditures have ensured the property's well-maintained condition, including horizontal copper piping, high quality vinyl patio enclosures, upgraded electrical panels, and seismic gas shut-off valves. Annual roof maintenance has been completed and an investor can expect an additional 10-years of roof life (Buyer to verify). 4528 Murietta Avenue is conveniently situated between Valleyheart Drive and Moorpark Street, with Hazeltine Avenue to the west and Woodman Avenue to the east. Residents have easy access to several nearby bus stops on Hazeltine Avenue, Moorpark Street, and Ventura Boulevard. Moreover, its proximity to Ventura Boulevard with its variety of retail shops, restaurants, offices, shopping centers, and other places of business ensures a high demand for rental units in one of the San Fernando Valley's most popular neighborhoods. For commuters, the property is within minutes from the Woodman Avenue and Van Nuys Boulevard on and off ramps to the 101 Freeway, allowing access throughout the San Fernando Valley and into the city of Los Angeles.
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Total Bedrooms : 18
Total Baths: 12
Full Baths: 0
Half Baths: 0
Property Appliances: Dishwasher,Refrigerator
Fireplace: Living Room
Central Air
Air Conditioning
Central
Has Heating
Fireplace Features: Living Room
Has Fireplace: 1
Year Built: 1956
Building Area Total: 9,784
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3119
Lot Size Source: Assessor
Lot Size Square Feet: 13588
Original List Price: 3,795,000
Listing Contract Date: 2024-03-20
Listing Agreement: Seller Reserved
Parcel Number: 2271003022
Garage Description: Covered,Carport,Uncovered
Lease Term: Negotiable
Source Listing Status: Active Under Contract
Source Neighborhood: SO - Sherman Oaks
Postal Code Plus 4: 5422
Directions: Head North on Hazeltine Avenue, turn right onto Milbank Street then turn left onto Murietta Avenue. The subject property is located in between Milbank Street and Valleyheart Drive.
Zoning: LAR3
Source Property Type: Residential Income
Area: SO - Sherman Oaks
Property Age: 68
Year Built Source: Vendor Enhanced
Total Square Feet Living: 9784
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3555 Camino De La Cumbre, Sherman Oaks, CA,91423 | $328,000 | -- | -- | -- | -- |
Camino De La Cumbre, Sherman Oaks, CA,91423 | $165,000 | -- | -- | -- | 146841 Sqft |
3841 Oakfield, Sherman Oaks, CA,91423 | $150,000 | -- | -- | -- | 17498 Sqft |
4523 Katherine Avenue, Sherman Oaks, CA,91423 | $1,300,000 | 3 | 1 | 1,026 | 6750 Sqft |
3923 Deer Avenue, Sherman Oaks, CA,91423 | $199,000 | -- | -- | -- | 17102 Sqft |
3620 Beverly Glen Boule.., Sherman Oaks, CA,91423 | $1,395,000 | 4 | 2 | 1,967 | 8500 Sqft |
14159 Dickens Street #110, Sherman Oaks, CA,91423 | $739,000 | 1 | 2 | 1,212 | 28167 Sqft |
13535 Rand Drive, Sherman Oaks, CA,91423 | $1,799,000 | 4 | 3 | 2,749 | 5691 Sqft |
3522 Dixie Canyon Place, Sherman Oaks, CA,91423 | $2,850,000 | 4 | 4 | 4,544 | 5447 Sqft |
3701 Longridge Avenue, Sherman Oaks, CA,91423 | $7,889,000 | 6 | 8 | 7,136 | 48769 Sqft |
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ByOwner last updated this listing 05/26/2024 @ 07:36
MLS: 24371343
LISTED BY: Sevak Keshishian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.