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34 Unit | Investment Opportunity 13951 Moorpark St 34 Unit Apartment Building $12,848,321 CAD ($377,892 CAD/Unit) 5% Cap Rate Sherman Oaks, CA 91423
Investment Highlights
- Huge Units
- Tremendous Unit Mix
- Seven Low Income Units Burn off in June 2026 ***
- Excellent Sherman Oaks Location
- Pool and Elevator
- Huge upside in the rents
Executive Summary
Marcus & Millichap and Zacuto Group, as the exclusive advisor to the seller, are pleased to present the opportunity to acquire The New Yorker, a 34-unit apartment building located on Moorpark Street in Sherman Oaks. The New Yorker represents a rare buying opportunity given its prime location in Sherman Oaks and sizable unit count.
The New Yorker is a 34-unit value-add opportunity located in Sherman Oaks, an affluent neighborhood of the San Fernando Valley known for excellent rent
growth and low vacancy rates. The property has a tremendous unit mix with over 82% of the apartments being two and three bedroom units. The apartments are extremely spacious with a great potential of raising the income as tenants vacate and owner upgrades units. The property is priced below replacement cost at $230 a sq. ft.
The subject property is one of only 30 properties in Sherman Oaks that are larger than 30 units located on or south of Moorpark Street. On average, there is less
than one opportunity to acquire such a property in Sherman Oaks each year. The common areas include a swimming pool, central courtyard, sundeck, 34
gated parking spaces, elevator, and onsite laundry room (three washers/three dryers). Most units have private patios or balconies.
The New Yorker is a 34-unit value-add opportunity located in Sherman Oaks, an affluent neighborhood of the San Fernando Valley known for excellent rent
growth and low vacancy rates. The property has a tremendous unit mix with over 82% of the apartments being two and three bedroom units. The apartments are extremely spacious with a great potential of raising the income as tenants vacate and owner upgrades units. The property is priced below replacement cost at $230 a sq. ft.
The subject property is one of only 30 properties in Sherman Oaks that are larger than 30 units located on or south of Moorpark Street. On average, there is less
than one opportunity to acquire such a property in Sherman Oaks each year. The common areas include a swimming pool, central courtyard, sundeck, 34
gated parking spaces, elevator, and onsite laundry room (three washers/three dryers). Most units have private patios or balconies.
Property Facts
| Price | $12,848,321 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $377,892 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.70 AC |
| Cap Rate | 5% | Building Size | 40,801 SF |
| Gross Rent Multiplier | 11.44 | Average Occupancy | 3% |
| No. Units | 34 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1964/1996 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Zoning | R3 | ||
| Price | $12,848,321 CAD |
| Price Per Unit | $377,892 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 11.44 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 40,801 SF |
| Average Occupancy | 3% |
| No. Stories | 3 |
| Year Built/Renovated | 1964/1996 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Carpet
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
| 2+2 | 23 | - | - |
| 3+2 | 5 | - | - |
1 1
Walk Score®
Very Walkable (86)
Property Taxes
| Parcel Number | 2271-012-039 | Improvements Assessment | $2,703,722 CAD |
| Land Assessment | $1,802,092 CAD | Total Assessment | $4,505,814 CAD |
Property Taxes
Parcel Number
2271-012-039
Land Assessment
$1,802,092 CAD
Improvements Assessment
$2,703,722 CAD
Total Assessment
$4,505,814 CAD
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34 Unit | Investment Opportunity | 13951 Moorpark St
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