Tarzana, CA 91335 6225 Reseda Blvd
$6,700,000
10 more
Presented By: Roderick 'Rick' Raymundo with Marcus & Millichap
Home Details
Constructed in 1962, the two-story building features an attractive unit mix containing mostly two-bedroom units. Current rents sit well below local market rates, allowing a new owner the potential to capitalize on approximately 54% in rent upside. Properties in the Tarzana submarket rarely become available, as only seven such buildings have sold within the past three years, according to CoStar COMPS. Given the recent and continuing development boom in neighboring Warner Center and Woodland Hills, this asset would allow an investor to take advantage of those new and upcoming amenities, albeit at a lower price point. Over the past three years, the average sales price per unit in Woodland Hills has been over $430,000 per unit, whereas Tarzana sales have averaged only $259,207 per unit. CAP Rates in Tarzana have also been approximately 51 basis points higher than in Woodland Hills, allowing Tarzana owners to earn greater returns on their investments despite the immediate proximity of the two neighboring cities. Situated near the intersection of Oxnard Street and Reseda Boulevard, the property allows residents convenient access to the new Topanga Village shopping center as well as the recently opened Topanga Social premium food hall. Adjacent to the upcoming Los Angeles Rams practice facility at 21555 Oxnard Street, team owner Stan Kroenke holds land entitled for a potential 35-acre mixed-use development. Proposals for the site show 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units. The $1 billion project would provide a significant amenities boost to the already thriving neighborhood, all of which benefits investors in the immediate area.
Presented By: Roderick 'Rick' Raymundo with Marcus & Millichap
Interior Features for 6225 Reseda Blvd
Bedrooms
Total Bedrooms52
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths44
Other Interior Features
Total Stories2
General for 6225 Reseda Blvd
Cap Rate4.04
CityTarzana
CountyLos Angeles
Days on Market8
DirectionsWe are pleased to announce the opportunity to purchase 6225 Reseda Boulevard, a 30-unit multifamily property located in Tarzana, CA.
Gross Income536292
HOA / Comm AssnNo
LevelsTwo
Lot Size Square Feet32400
Lot Size UnitsSquare Feet
MLS AreaTAR - Tarzana
Net Operating Income270696
New ConstructionNo
NumberOfUnitsTotal30
Property TypeResidential Income
Senior Community Y/NNo
Standard StatusActive
StatusActive
Stories2
Year Built1962
ZoningLAR3
Exterior for 6225 Reseda Blvd
Building Area Total25718
Lot Size Acres0.7438
Lot Size Area32400
Lot Size SourceAssessor
Number of Buildings30
Parking FeaturesAssigned
Total Parking30
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480