Under Contract
4528 Murietta Avenue
Sherman Oaks CA, 91423
$3,795,000
$387.88 per sqft
Under Contract
18 Beds
12 Baths
9,784 sqft
Residential
Built in 1956
Listed by Sevak Keshishian with Marcus & Millichap 818-212-2700
We are pleased to present 4528 Murietta Avenue, a 12-unit multifamily property located in the heart of Sherman Oaks. This property represents an exceptional opportunity for investment in a highly sought-after pocket of the San Fernando Valley, situated only two blocks from Ventura Boulevard. 4528 Murietta Avenue has been well maintained and is an ideal choice for investors seeking approximately 45% in rental upside through an interior renovation program. Constructed in 1956, this two-story property comprises six 1-bedroom/1-bathroom units and six 2-bedroom/2-bathroom. Three of these units have undergone renovations featuring white shaker kitchen cabinetry, stone countertops, and updated bathrooms, while most units have received new vinyl plank or wood laminate flooring. Most of the remaining units have had kitchens renovated prior to current ownership. Five of the ground floor units feature private patios while the sixth has a private yard. All the second-floor units have a living room balcony. The floorplans for 1-bedroom and 2-bedroom units are identical and units are stacked allowing for efficient plumbing upgrades. All units are equipped with central HVAC, dishwashers, fireplaces and are individually metered for gas and electricity utilities. Currently there is one renovated 1-bedroom unit that is vacant and the potential for a 2-bedroom unit to be delivered vacant at the close of escrow. The property includes 16 parking spaces and an on-site laundry room. Capital expenditures have ensured the property's well-maintained condition, including horizontal copper piping, high quality vinyl patio enclosures, upgraded electrical panels, and seismic gas shut-off valves. Annual roof maintenance has been completed and an investor can expect an additional 10-years of roof life (Buyer to verify). 4528 Murietta Avenue is conveniently situated between Valleyheart Drive and Moorpark Street, with Hazeltine Avenue to the west and Woodman Avenue to the east. Residents have easy access to several nearby bus stops on Hazeltine Avenue, Moorpark Street, and Ventura Boulevard. Moreover, its proximity to Ventura Boulevard with its variety of retail shops, restaurants, offices, shopping centers, and other places of business ensures a high demand for rental units in one of the San Fernando Valley's most popular neighborhoods. For commuters, the property is within minutes from the Woodman Avenue and Van Nuys Boulevard on and off ramps to the 101 Freeway, allowing access throughout the San Fernando Valley and into the city of Los Angeles.
24371343
MLSⓇ ID
March 20, 2024
Listed
April 29, 2024
Updated
Map
4528 Murietta Avenue
Sherman Oaks CA, 91423
Interior Features
Total Stories
2
Bedrooms
18 Beds
Bathrooms
12 Baths
Appliances
Dishwasher, Refrigerator
Laundry Description
Common Area
Fireplace
Yes
Fireplace Description
Living Room
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.31 Acres
Other Property Details
Area Name
SO - Sherman Oaks
Days on Market
40
Garage
No
Parking
Covered, Carport, Uncovered
Parking Total
16
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
4/29/2024 | Under Contract | — |
4/12/2024 | Price Change | $3,795,000 -4% |
Listing Contact: 818-212-2700
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/29/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/29/2024 at 8:11 PM UTC