13804 Moorpark Street

Introducing 13804 Moorpark St, Sherman Oaks, CA 91423 - an incredible investment opportunity that combines modern updates with substantial growth potential. This current 6-unit property, built in 1953, has recently undergone extensive renovations in 2022, totaling over $100,000 in upgrades. Three out of the six units have been fully renovated, showcasing the high-quality nishes and attention to detail put into enhancing the living spaces. These spacious 400 square foot studio units feature separate kitchens, providing convenience and comfort for tenants.However, the true value lies in the property's potential. Included with the purchase are ready-to-issue (RTI) permits to construct two additional accessory dwelling units (ADUs). These upcoming units will each offer 2 bedrooms, 2 bathrooms, and an ofce/den, boasting 894 rentable square feet. Once completed and leased, these ADUs are projected to generate a rental income of $3,350 per unit, resulting in a combined monthly income of $6,700. Moreover, their estimated market value upon completion and leasing is $500,000 each, contributing to a signicant return on investment.With a total cost of $2.4 million, including the purchase price of $1.8 million and $600,000 for ADU construction, the buyer will have an impressive 8-unit property. This equates to an investment of $300,000 per unit and a competitive cost of $545 per square foot to buy and build. The expanded building, encompassing the two new ADUs, will span 4,405 square feet, providing ample space for tenants to enjoy. Furthermore, the property currently offers 6 parking spots, with the potential to increase to 8 parking spots after the certicate of occupancy, allowing for exibility and convenience.13804 Moorpark St is located in Sherman Oaks, Los Angeles, a charming and sought-after neighborhood known for its peaceful residential atmosphere. This centrally located area provides convenient access to major freeways, making it ideal for commuters. Residents can enjoy a variety of amenities and entertainment options, with Ventura Boulevard offering trendy boutiques, cozy cafes, exquisite restaurants, and lively entertainment venues. The nearby Sherman Oaks Galleria provides high-end shopping and dining experiences. For outdoor activities, Van Nuys Sherman Oaks Park and the scenic Sepulveda Basin Recreation Area offer opportunities for sports, picnicking, hiking, biking, and bird-watching. Families on Moorpark St have access to quality educational institutions, including Sherman Oaks Elementary and Notre Dame High School, ensuring a top-notch education for children. Overall, 13804 Moorpark St in Sherman Oaks offers a desirable location with a tranquil residential setting, convenient access to amenities, and a vibrant lifestyle.