$ 4,380,000
14375 Polk ST Sylmar, CA 91342
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$ 4,380,000
Est. payment /mo
Active
14375 Polk ST Sylmar, CA 91342
33 Beds
25 Baths
15,848 SqFt
UPDATED:
09/30/2024 06:49 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,848 sqft
Price per Sqft $276
MLS Listing ID 24384961
Bedrooms 33
HOA Y/N No
Year Built 1964
Lot Size 0.455 Acres
Acres 0.4546
Property Description
We are proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retrofit work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and flooring, along with re-glazed bathtubs and new tile.The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually.The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate fixed through May 2027.Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal.Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.
Location
State CA
County Los Angeles
Area Syl - Sylmar
Zoning LARD6
Interior
Fireplace No
Exterior
Garage Covered
Parking Type Covered
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2504015010
Special Listing Condition Standard
Listed by Filip Niculete • Marcus & Millichap