5259 Sepulveda Blvd

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Address: 5259 Sepulveda Blvd, Sherman Oaks, California, US
Created date: July 10, 2023
Date last updated: April 3, 2024

Property Description

Growth Investment Group California proudly presents The Weddington Oaks, a luxurious residential complex located at 5259 Sepulveda Blvd, Sherman Oaks. With 27 stunning units (1 is a non-conforming unit – rental unit or office), this prime property offers the lowest price per unit in the highly sought-after neighborhood of Sherman Oaks. Boasting an excellent location near the Sherman Oaks Galleria, this property offers a prime location for residents seeking convenience, entertainment, and access to various amenities. This offering presents a rare opportunity for investors to acquire an excellently located, well-maintained, and one of the lowest price/unit apartments in the Sherman Oaks area. With its diverse unit mix, modern amenities, and strong rental demand, this property offers a solid income stream and potential for long-term value appreciation. Whether you're an astute investor or a 1031 exchange buyer, Weddington Oaks presents an unbeatable opportunity to own a piece of this prestigious community. Built in 1964, Weddington Oaks is situated on a corner lot on Sepulveda Blvd & Weddington Street. It is a three stories apartment with ±17,298sf on an LA-R3 zoned ±16,591sf lot (buyer to verify). The property has excellent curb appeal and superb visibility along Sepulveda Blvd, making it an easy to advertise and rent community. It has many amenities such as secured entrance with intercom, gated parking, elevator, lobby area, and fenced swimming pool. It offers a diverse unit mix of one (1) x 2bed+2bath, twenty-four (24) x 1bed+1bath, and two (2) x Studio units, catering to a range of tenants' needs. Approximately ±13 to 14 units (buyer to verify) have been upgraded with modern upgrades such as wood flooring, smooth ceiling, led lighting, updated kitchen, and updated bathroom. Each unit is thoughtfully designed and equipped with modern amenities, ensuring a comfortable living experience. Additional amenities such as central HVAC, 1 covered parking space, laundry facilities, fenced pool, lobby area, and an elevator enhance the overall appeal of the complex, attracting tenants and contributing to tenant retention. One of the Studio units is a non-conforming unit that can be rented as a unit or utilized as leasing office. The property had recent capital improvements, including new exterior paint, updated pool fence, and update to some units. Parking is provided by covered ground level parking with 2 entrances and the community has 27 parking spaces. The units are all separately metered for electricity and gas, and the property has a shared laundry room (seller own machines). Sherman Oaks is a highly sought-after residential area with a strong demand for housing. The community presents an excellent investment opportunity with significant potential for rental income and long-term value appreciation. The demand for rental properties in this area remains robust, offering investors a stable and consistent income stream.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Apartments | Garden Style
Price: $7,450,000
No. of Units: 27
Cap Rate: 4.45%
GRM /GIM: 14.13
Year Built: 1963
Year Renovated: 2023
Building Size: 17,298 Sq ft
Lot Size: 16,589.00 Sq ft
Opportunity Zone: No
Price per unit: $275,926
Address: 5259 Sepulveda Blvd

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

FINANCIAL DETAILS

Income/expense info: Actual

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