6635 Etiwanda Avenue,  Reseda CA, 91335 (Residential Income)

16,764 sqft
Status: Sold
MLS#: 15905655
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Last Updated: 12/3/2016 3:29 PM
Description for 6635 Etiwanda Avenue Reseda, CA 91335
The property consists of a long term stable tenancy. Current rents are more than 35% below market. A savvy investor looking to add value will be able to acquire the asset at $187 per square foot, while the most recent comparable multi-family sale on the same street yielded over $255 per square foot, and with a far inferior unit mix. With sound management practices an investor will be able to raise rents over time and achieve excellent results. The property has been well maintained over the years. Tenants enter the building off Etiwanda Ave. through a private security gate into a tranquil and well landscaped courtyard. The property comes with an on-site laundry facility, gorgeous interior courtyard and covered / uncovered parking gated parking in the rear. There is copper plumbing throughout, a new roof and new exterior paint. Several units have also been upgraded with new kitchen cabinets and sinks. The building is separately metered for gas and electricity.
Price
Sold Price:
$3,000,000
Sold Date:08/28/2015
Los Angeles
16,764 (approx)
15905655
Closed
Description
The property consists of a long term stable tenancy. Current rents are more than 35% below market. A savvy investor looking to add value will be able to acquire the asset at $187 per square foot, while the most recent comparable multi-family sale on the same street yielded over $255 per square foot, and with a far inferior unit mix. With sound management practices an investor will be able to raise rents over time and achieve excellent results. The property has been well maintained over the years. Tenants enter the building off Etiwanda Ave. through a private security gate into a tranquil and well landscaped courtyard. The property comes with an on-site laundry facility, gorgeous interior courtyard and covered / uncovered parking gated parking in the rear. There is copper plumbing throughout, a new roof and new exterior paint. Several units have also been upgraded with new kitchen cabinets and sinks. The building is separately metered for gas and electricity.
Listing Information
Property Type: Cluster, Other
0.42 Acres 18,314 sq.ft. 16,764 (approx)
$178.95 1961
20 Total
Neighborhood
Room Information
Exterior / Lot Features
10 Parking Spaces, Uncovered, Covered
LAR3
Driving Directions
Located just W of the 405 Freeway and N of the 101 Freeway and Ventura Blvd., the asset enjoys a central location in the heart of the Western region of the San Fernando Valley. The site is just minutes from the prime Valley communities of Encino and She>
Financial Considerations
2125017005
,$78,279
Listing Price History

Reseda Real Estate

Reseda is located in California. Reseda, California 91335 has a population of 74,641.

The median household income in Reseda, California 91335 is $53,107. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Reseda 91335 is 35 years.

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Courtesy: BRC Advisors Inc. Phil Poth
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Information is deemed reliable but is not guaranteed.

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