Residential Income – 6251 Reseda Blvd, Tarzana, CA 91335, USA -001-11-30T00:00:00-08:00
Value-Add Opportunity. Approx. 28% upside potential. 6251-6267 Reseda Blvd, Tarzana, CA 91335 with APNs 2127-012-007 and 2127-012-008 is a 52-unit apartment property located in the San Fernando Valley neighborhood of Tarzana, just one mile north of Ventura B
6251 Reseda Blvd, Tarzana, CA 91335, USA
$10,500,000 USD
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Address6251 Reseda Boulevard, Tarzana
Price$10,500,000
Year Built1960
Bedrooms Total0
Lot Size (Sq.Ft.)58,883
Listing ID17293470
StatusActive
Parcel Number2127012007
ZoningLAR3
Special ConditionsStandard
Days on Market10

Detailed Description: Value-Add Opportunity. Approx. 28% upside potential. 6251-6267 Reseda Blvd, Tarzana, CA 91335 with APNs 2127-012-007 and 2127-012-008 is a 52-unit apartment property located in the San Fernando Valley neighborhood of Tarzana, just one mile north of Ventura Boulevard. Built in 1960, the Property has been owned by the same family for almost 20 years. The current ownership lightly upgraded a handful of units with new laminate flooring and paint and achieved significantly higher rents. If a buyer were to upgrade the units further and bring all the tenants to market, the upside potential is approximately 28% and the cash-on-cash return is approximately 5%. Reseda Gardens features a swimming pool and a well-manicured lawn in a courtyard-style building. The community is gated with carport parking. Two units feature central heat and air and some units have a balcony or patio. Priced below replacement costs. 3 min drive to 101 Frwy, 5 min drive to Ventura Blvd. 3 min walk to Metro Orange.

Laundry
Parking
Pool Private
Land Lease

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Address Information
Address6251 Reseda Boulevard, Tarzana
Street SuffixBoulevard
CityTarzana
Location (MLS Area)TAR – Tarzana
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91335
Financial Information
Price per Lot Square Foot$178.32
Price per Unit$201,923
Special ConditionsStandard
Total Expenses$347,521
Gross Operating Income$772,925
Net Operating Income$425,404
Laundry Income$7,015
Garage Income$1,800
Gross Multiplier13.2%
Tax Year2000
Full Descriptions
Parcel Number2127012007
Detailed DescriptionValue-Add Opportunity. Approx. 28% upside potential. 6251-6267 Reseda Blvd, Tarzana, CA 91335 with APNs 2127-012-007 and 2127-012-008 is a 52-unit apartment property located in the San Fernando Valley neighborhood of Tarzana, just one mile north of Ventura Boulevard. Built in 1960, the Property has been owned by the same family for almost 20 years. The current ownership lightly upgraded a handful of units with new laminate flooring and paint and achieved significantly higher rents. If a buyer were to upgrade the units further and bring all the tenants to market, the upside potential is approximately 28% and the cash-on-cash return is approximately 5%. Reseda Gardens features a swimming pool and a well-manicured lawn in a courtyard-style building. The community is gated with carport parking. Two units feature central heat and air and some units have a balcony or patio. Priced below replacement costs. 3 min drive to 101 Frwy, 5 min drive to Ventura Blvd. 3 min walk to Metro Orange.
Security FeaturesGated Community
Laundry FeaturesCommunity
Parking FeaturesCarport
Pool FeaturesFenced
Property parameters
Year Built1960
Lot Size (Sq.Ft.)58,883
Lot Size SourceAssessor
Number of Buildings2
Number of Units Total52
ZoningLAR3
Entry LocationGround Level No Steps
Stories Total2
Units Total52
Cap Rate (For Cash Payment Only)4.05
Listed withLaurie Lustig (Laurie J. Lustig)