REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 9,650,000
Est. payment | /mo
41 Beds
41 Baths
29,588 SqFt
$ 9,650,000
Est. payment | /mo
41 Beds
41 Baths
29,588 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 29,588 sqft
Price per Sqft $326
MLS Listing ID 26852325
Bedrooms 41
HOA Y/N No
Year Built 1989
Lot Size 0.585 Acres
Property Description
The Kelly Morgan Commercial Group is pleased to present a rare opportunity to acquire a 39 unit multifamily portfolio consisting of two properties located on the same block in Reseda, California: 27 units at 7249 Baird & 12 units at 18540 Wyandotte (both properties must be purchased together). The metrics on this listing pertain to the portfolio, not individually. The portfolio offers strong in place cash flow with a current 6.27% cap rate and 10.15 GRM, along with significant upside through rental increases and the potential development of up to 9 ADUs. Unlike many Los Angeles apartment properties, the assets are not subject to LA City Rent Control, allowing for annual rent increases of 5% plus CPI. Ideally located near Sherman Way and Reseda Boulevard, the properties benefit from an 86 Walk Score, convenient access to public transportation, nearby retail, dining, parks, and major educational institutions including CSUN and Pierce College. Combining immediate income, value-add potential, and a highly desirable San Fernando Valley location, this portfolio presents an attractive opportunity for investors seeking both cash flow and long-term appreciation. Disclaimer: Property sold as is, where is.
Location
State CA
County Los Angeles
Area Res - Reseda
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Covered
Total Parking Spaces 70
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2118028047
Special Listing Condition Standard
Listed by Kelly Morgan Houze Real Estate Management #01898026
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "