Los Angeles, Residential Income – 18543 Clark St, Tarzana, CA 91356, USA -001-11-30T00:00:00-08:00
VALUE ADD OPPORTUNITY * There is a high potential for Value Add to this property with the increase of rents over time for both one and two bedrooms 28% – 40%. To achieve these rents a new owner will need to upgrade the unit interiors to include upgraded floo
18543 Clark St, Tarzana, CA 91356, USA
$8,997,000 USD
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Address18543 Clark Street, Tarzana
Price$8,997,000
Year Built1962
Bedrooms Total0
Living Area29,884
Listing ID17202442
StatusActive
Parcel Number2160004029
ZoningLAR3
Special ConditionsStandard
Days on Market97

Detailed Description: VALUE ADD OPPORTUNITY * There is a high potential for Value Add to this property with the increase of rents over time for both one and two bedrooms 28% – 40%. To achieve these rents a new owner will need to upgrade the unit interiors to include upgraded flooring, new kitchens, new bathrooms, new paint and modern lighting – estimated to cost between $8-12K / unit. The common areas will also need to be updated to a moremodern look / feel – think Viceroy Hotel and Kelly Wearstler. This will attract the young, professional crowd who are looking for a modern, well located place to call their home. Once the rents are at these levels the GSI will increase by 35% to over $730,000 per year.

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Address Information
Address18543 Clark Street, Tarzana
Street SuffixStreet
CityTarzana
Location (MLS Area)TAR – Tarzana
County Or ParishLos Angeles
Postal Code91356
Financial Information
Price per Square Foot$301.06
Special ConditionsStandard
Total Expenses$230,332
Gross Operating Income$523,004
Net Operating Income$292,672
Gross Multiplier16.69%
Improvements Amount$3,608,838
Land Value$2,071,069
Tax Year2017
Full Descriptions
Parcel Number2160004029
Detailed DescriptionVALUE ADD OPPORTUNITY * There is a high potential for Value Add to this property with the increase of rents over time for both one and two bedrooms 28% – 40%. To achieve these rents a new owner will need to upgrade the unit interiors to include upgraded flooring, new kitchens, new bathrooms, new paint and modern lighting – estimated to cost between $8-12K / unit. The common areas will also need to be updated to a moremodern look / feel – think Viceroy Hotel and Kelly Wearstler. This will attract the young, professional crowd who are looking for a modern, well located place to call their home. Once the rents are at these levels the GSI will increase by 35% to over $730,000 per year.
Laundry FeaturesSee Remarks
Cooling DescriptionCentral
Parking FeaturesOther
Property parameters
Year Built1962
Living Area (Sq.Ft.)29,884
Number of Buildings1
Number of Units Total29
ZoningLAR3
Stories Total2
Units Total29
Listed withKelly Morgan (Keller Williams-Santa Monica)