Willis Park South Apartments 4553 Willis Ave
21 Unit Apartment Building $8,507,800 CAD ($405,133 CAD/Unit) 4.11% Cap Rate Sherman Oaks, CA 91403
INVESTMENT HIGHLIGHTS
- Well maintained 21 unit apartment building located in a prime Sherman Oaks location.
- Tremendous rental upside. Many of the rents are well below market.
- Situated near Ventura Boulevard, offering easy access to a variety of dining, shopping, and entertainment destinations.
- Tenant amenities include central air, dishwashers, elevator, controlled access, gated parking.
EXECUTIVE SUMMARY
This well-maintained apartment complex is perfectly located just moments away from the bustling Ventura Boulevard, providing residents with immediate access to an array of dining, shopping, and entertainment options. The thoughtfully designed units, consisting of 1 Single + One Bath Unit, 19 One Bedroom + One Bath Units, and One Two Bedroom + 2 Bath Unit, offer spacious layouts with amenities such as central air conditioning, dishwashers, patio/balconies, elevator, and covered parking. Moreover, with easy access to major freeways like the 101 and I-405, commuting throughout Los Angeles is a breeze, making it an ideal choice for professionals and families alike. The combination of its prime location and well-appointed units makes 4553 Willis Avenue a truly outstanding place to call home, offering a rare opportunity for comfortable, high-quality living in one of LA's most desirable neighborhoods. This is a rare opportunity for an investor to purchase a great multifamily property in a terrific Sherman Oaks neighborhood.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $8,507,800 CAD |
| Price Per Unit | $405,133 CAD |
| Sale Type | Investment |
| Cap Rate | 4.11% |
| Gross Rent Multiplier | 13.65 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 17,712 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1973 |
| Parking Ratio | 1.58/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Gated
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,803 CAD | 500 |
| 1+1 | 19 | $2,358 CAD | 700 |
| 2+2 | 1 | $3,301 CAD | 950 |
1 of 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 2264-017-035 | Total Assessment | $2,105,778 CAD |
| Land Assessment | $983,201 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,122,576 CAD | Tax Year | 2024 |
ZONING
| Zoning Code | LAR3 |
