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39 Unit Portfolio with ADU Potential 2 Multifamily Properties Offered at $13,738,995 CAD in Reseda, CA
Investment Highlights
- Financial Metrics: 6.27% Cap Rate, 10.15 GRM, with upside after ADU construction costs to a 7.03% Cap Rate and 9.33 GRM.
- Value Add Potential: Both properties allow up to 9 ADUs, some with patios. Select existing units have already been beautifully upgraded.
- Convenient Transit Access: One block from Reseda Blvd and Sherman Way transit corridor, and the Metro G Line about 1.5 miles away.
- Not Subject to LA City Rent Control: Allows 5% + CPI Annual Rental Increases. Select units currently due for increases up to 8%.
- Location Benefits: Near Sherman Way and Reseda Blvd retail, grocery stores, restaurants, parks, CSUN, Pierce College, and other local amenities.
- High Walk Score: Very walkable neighborhood with 86 Walk Score, allowing most daily errands, shopping, dining, and services to be completed on foot.
Executive Summary
The Kelly Morgan Commercial Group is pleased to present a rare opportunity to acquire a 39 unit multifamily portfolio consisting of two properties located on the same block in Reseda, California (both properties to be purchased together). The portfolio offers strong in place cash flow with a current 6.27% cap rate and 10.15 GRM, along with significant upside through rental increases and the potential development of up to 9 ADUs. Unlike many Los Angeles apartment properties, the assets are not subject to LA City Rent Control, allowing for annual rent increases of 5% plus CPI. Ideally located near Sherman Way and Reseda Boulevard, the properties benefit from an 86 Walk Score, convenient access to public transportation, nearby retail, dining, parks, and major educational institutions including CSUN and Pierce College. Combining immediate income, value-add potential, and a highly desirable San Fernando Valley location, this portfolio presents an attractive opportunity for investors seeking both cash flow and long-term appreciation.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
Disclaimer: Property sold as is, where is.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
Disclaimer: Property sold as is, where is.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $13,738,995 CAD | Number of Properties | 2 |
| Price / SF | $464.34 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.14% | Total Building Size | 29,588 SF |
| Sale Type | Investment | Total Land Area | 0.58 AC |
| Status | Active |
| Price | $13,738,995 CAD |
| Price / SF | $464.34 CAD / SF |
| Cap Rate | 6.14% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 29,588 SF |
| Total Land Area | 0.58 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Baird Apartments
7249 Baird Ave, Reseda, CA 91335 |
Multifamily | 21,476 SF | 1989 | - |
|
Wyandotte Apartments
18540 Wyandotte St, Reseda, CA 91335 |
Multifamily | 8,112 SF | 1989 | - |
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39 Unit Portfolio with ADU Potential
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