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$ 3,495,000
Est. payment | /mo
11,351 SqFt
$ 3,495,000
Est. payment | /mo
11,351 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,351 sqft
Price per Sqft $307
MLS Listing ID CL26662809
HOA Y/N No
Year Built 1956
Lot Size 0.580 Acres
Acres 0.58
Property Sub-Type Other
Property Description
Sherman Way Palace & Bakman Palms present a 28-unit multifamily investment opportunity across two adjacent parcels in Sun Valley. The offering includes a separately parceled fourplex (Bakman Ave), allowing for operational efficiencies through shared management while maintaining flexibility for future financing, refinancing, or potential individual disposition. Built in 19551956, the property totals approximately 11,351 square feet of improvements on a combined 25,278 SF lot and is zoned LAR3. The unit mix consists of (9) bachelor units, (8) studios, (10) one-bedroom/one-bath units, and (1) two-bedroom/two-bath unit, supporting broad tenant demand and stable occupancy. The asset offers strong in-place income with significant value-add potential, driven by mark-to-market rent growth and operational efficiencies. Ownership has completed multiple capital improvements, including copper plumbing, new windows, stone siding, fresh exterior paint, and gated entry, helping reduce near-term capital expenditure needs. Additional amenities include ample on-site surface parking and on-site laundry facilities, providing convenience for residents and additional income potential. Located in the eastern San Fernando Valley, the property benefits from convenient access to Burbank, North Hollywood,
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2315022010
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Listed by Tony Azzi • Tony Azzi
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