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$ 10,500,000
Est. payment | /mo
32,777 SqFt
$ 10,500,000
Est. payment | /mo
32,777 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 32,777 sqft
Price per Sqft $320
MLS Listing ID CL26658831
HOA Y/N No
Year Built 2013
Lot Size 0.538 Acres
Acres 0.5378
Property Sub-Type Other
Property Description
We are pleased to present 7203 Rubio Avenue, a high-quality multifamily investment opportunity located in the Lake Balboa neighborhood of the San Fernando Valley. Constructed in 2013, the property consists of 29 residential units and a separately leased on-site office space situated on a prominent corner lot at the intersection of Sherman Way and Rubio Avenue. This offering represents the first time the asset has been brought to market since completion, providing investors the rare opportunity to acquire a modern, institutionally maintained property in a central infill Los Angeles location. The residential component features a well-balanced unit mix of one-, two-, and three-bedroom layouts ranging from approximately 675 to 1,295 square feet. Units are outfitted with contemporary interior finishes, including recessed lighting, luxury vinyl plank flooring, quartz countertops, stainless steel appliances, wood cabinetry, and generous storage. Some of the units have tile throughout the kitchen, living room, and bathroom areas. Seventeen units offer private balconies, and the property includes common area spaces on the third and fourth floors that provide panoramic views of the San Fernando Valley and additional lifestyle appeal. The on-site office space is leased to an insurance firm with a term extending through May 31, 2027,offering stable supplemental income the space is approximately 1,200 SF and equipped with a kitchen and bathroom, ideal for a potential ADU conversion. Built in 2013, the property is not subject to the Los Angeles Rent Stabilization Ordinance, allowing for greater operational flexibility and long-term growth. The asset has strong occupancy, demonstrating tenant demand and providing immediate in-place cash flow. At the asking price, the offering is priced at $362,069 per unit and $320 per square foot, reflecting a 5.40% CAP rate and an 12.24 gross income multiplier based on current operations. The property is well equipped with 53 gated ground-floor parking spaces, EV charging stations, a secure intercom-controlled entry system, and security cameras throughout. Utilities are separately metered, including water, which minimizes landlord expense exposure. With little to no deferred maintenance, the asset offers investors a truly turnkey acquisition. Strategically located with convenient access to the 405 and 101 Freeways, the property benefits from proximity to major retail, dining, and employment corridors along Sherman Way, Victory Boulevar
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 2226016025
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Neema Ahadian • Marcus & Millichap
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