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Listed by Michael A Salerno - DRE #01212427 - Michael Anthony Salerno 310-200-1309

$3,395,000

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6500 Shirley Avenue Reseda, CA 91335

Cluster Residence

24 Beds

16 Baths

11,754 Sq. Ft.

0.52 Acre Lot

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Last updated on 11/14/2024 1:28 PM

Listing Details

16 units in quiet Reseda neighborhood. Twin 8 - unit buildings that are separately deeded. 6500-10 Shirley Avenue. Huge lot - 22,859 sq. ft. with beautiful courtyard. Excellent unit mix - 8 - 1 bedroom + 1 bath and 8 - 2 bedroom + 1 bath units. The buildings were built in 1958 and there is 11,754 s...q. ft. of building. Long term owner. The rents are significantly below market with over 50% upside in the rents. Onsite laundry. Individually metered for gas and electricity. New electrical panels. Because the buildings are on separately deeded parcels, an onsite manager is not required although there is one. The CAP rate increases to 4.53% without an onsite manager. There is an excellent assumable loan with Chase. The current loan balance is$1,077,393, 3.25% fixed until 02/2029. The current monthly payment is $5,442.42. The property is centrally located in the San Fernando Valley with easy freeway access. Close to California State University, Northridge, Pierce Junior College, Warner Center and the Topanga Plaza Shopping Mall. **The property can be purchased along with 19406 Gilmore Ave, 6 units located only 7 parcels from the subject property. Continue reading

MLS#

24455178

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1958

Square Feet

11,754 sq. ft

Lot Size