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Santorini Villas In Prime Sherman Oaks 4421-4427 Murietta Ave
24 Unit Apartment Building $6,995,000 USD ($291,458 USD/Unit) 4.72% Cap Rate Sherman Oaks, CA 91423
Investment Highlights
- Premier Sherman Oaks location
- Significant rental upside (current rent/SQFT of $2.28)
- Sparkling pool and beautiful courtyard setting
- Excellent unit mix (all large 1 and 2-bedroom units)
- Quintessential value-add investment opportunity
- Steps from high-end dining and entertainment venues
Executive Summary
Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 4421–4427 Murietta Avenue, commonly known as the Santorini Villas, a prestigious opportunity to acquire a quintessential value-add property situated in one of the best rental locations in prime Sherman Oaks. The beautiful open courtyard property boasts an ideal unit mix consisting of all large 1 and 2-bedroom units. Each of the units is spacious, has a terrific floor plan, and offers an abundance of natural light. Built in 1955, the property is an ideal midcentury gem ideally positioned just steps from vibrant Ventura Blvd.
The Santorini Villas feature a unit mix of (16) 2-bedroom, 1-bathroom units and (8) 1-bedroom, 1-bathroom units. Interiors have hardwood floors (select units), spacious kitchens/bedrooms/bathrooms, and are separately metered for gas and electricity. Other property features include a well landscaped courtyard, a large sparkling pool, copper plumbing, an intercom entrance, a pitched roof, and ample on-site parking which is exempt from soft story retrofit.
Close to some of the Valley’s best dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
The Santorini Villas feature a unit mix of (16) 2-bedroom, 1-bathroom units and (8) 1-bedroom, 1-bathroom units. Interiors have hardwood floors (select units), spacious kitchens/bedrooms/bathrooms, and are separately metered for gas and electricity. Other property features include a well landscaped courtyard, a large sparkling pool, copper plumbing, an intercom entrance, a pitched roof, and ample on-site parking which is exempt from soft story retrofit.
Close to some of the Valley’s best dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro forma - 2024) |
Annual (USD) | Annual Per SF (USD) |
---|---|---|
Gross Rental Income | $550,424 | $27.33 |
Other Income | $24,074 | $1.20 |
Vacancy Loss | $16,513 | $0.82 |
Effective Gross Income | $557,985 | $27.71 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $228,103 | $11.33 |
Net Operating Income | $329,882 | $16.38 |
Financial Summary (Pro forma - 2024)
Gross Rental Income (USD) | |
---|---|
Annual | $550,424 |
Annual Per SF | $27.33 |
Other Income (USD) | |
---|---|
Annual | $24,074 |
Annual Per SF | $1.20 |
Vacancy Loss (USD) | |
---|---|
Annual | $16,513 |
Annual Per SF | $0.82 |
Effective Gross Income (USD) | |
---|---|
Annual | $557,985 |
Annual Per SF | $27.71 |
Taxes (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses (USD) | |
---|---|
Annual | $228,103 |
Annual Per SF | $11.33 |
Net Operating Income (USD) | |
---|---|
Annual | $329,882 |
Annual Per SF | $16.38 |
Property Facts
Price | $6,995,000 USD | Apartment Style | Low Rise |
Price Per Unit | $291,458 USD | Building Class | C |
Sale Type | Investment | Lot Size | 0.57 AC |
Cap Rate | 4.72% | Building Size | 19,660 SF |
Gross Rent Multiplier | 12.18 | Average Occupancy | 92% |
No. Units | 24 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1955 |
Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
Price | $6,995,000 USD |
Price Per Unit | $291,458 USD |
Sale Type | Investment |
Cap Rate | 4.72% |
Gross Rent Multiplier | 12.18 |
No. Units | 24 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.57 AC |
Building Size | 19,660 SF |
Average Occupancy | 92% |
No. Stories | 2 |
Year Built | 1955 |
Parking Ratio | 0.92/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Gated
- Grill
- Gas Range
- Walk-Up
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 8 | $1,849 USD | 692 |
2+1 | 16 | $2,142 USD | 872 |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
Parcel Number | 2271-013-011 | Improvements Assessment | $1,695,673 USD |
Land Assessment | $3,893,774 USD | Total Assessment | $5,589,447 USD |
PROPERTY TAXES
Parcel Number
2271-013-011
Land Assessment
$3,893,774 USD
Improvements Assessment
$1,695,673 USD
Total Assessment
$5,589,447 USD
zoning
Zoning Code | R3 |
R3 |
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Santorini Villas In Prime Sherman Oaks | 4421-4427 Murietta Ave
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