4212 Greenbush Ave - Apartments FOR SALE


Sherman Oaks, CA 91423
$4,850,000 USD
310-776-0564
4212 Greenbush Ave, Sherman Oaks, CA for Sale
$4,850,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

4212 Greenbush Ave
Sherman Oaks, CA 91423


HIGHLIGHTS

  • Eric Dilanian & Rob Renshaw Present 6 massive individual condominiums being sold together
  • All 3-bed/2½-bath units with private garage, roof deck, office and bonus room averaging over 2,200 square feet
  • Massive individual condominium resale opportunity with comparable condominiums in the immediate area selling for an average price of $704/SQFT
  • Prime Sherman Oaks location steps to Ventura Boulevard

OVERVIEW

Eric Dilanian and Rob Renshaw of RE/MAX Commercial & Investment Realty are pleased to present the opportunity to acquire the fee simple interest in all units of a luxury condominium property in prime Sherman Oaks, CA. Greenbush Villas at 4212 Greenbush Avenue comprises six individual condominiums each with its own assessor parcel number, with 2 Units Delivered VACANT. All six condominiums are owned by the original developer and are being sold together. This sale structure gives buyers the opportunity to either continue operating the property as an income-producing multifamily asset or to sell the individual units off with the potential for sizable profits. The property was built in 2007 using podium-style construction that includes a wood-frame structure over a poured concrete base. Each unit has 3 bedrooms and 2½ baths and each features a bonus room as well as an enclosed loft which is perfectly suited for home office use. Each unit also has its own private rooftop deck, laundry hookups, and a private 2-car garage. There is central heat and air as well as fireplaces throughout. Units feel very much like homes with a massive primary living area and kitchen. Units range in size from 2,100 to over 2,400 square feet. Located just 200 feet north of famed Ventura Boulevard on an idyllic tree-lined block in the best possible part of Sherman Oaks, Greenbush Villas provides tenants with walkable access to some of the area’s best restaurants, bars, shops and services. Within a 3-minute stroll are culinary standouts Sushi Note, HomeState, The Great Greek, and Wood and Water. Directly to the north are multi million dollar single family homes. Greenbush Villas is also just one block from highly-regarded Dixie Canyon Community Charter School. There truly is no better location in the San Fernando Valley. Astute investors will have multiple options when choosing how to best leverage this amazing asset. Greenbush Villas is uniquely positioned in the rental market with extremely rare, high-quality, 3-bedroom units that should appeal to families priced out of the local market for single-family homes. Alternatively, the new owner might find that the prevailing value of $1,000,000+ for similar condominiums simply offers too compelling an opportunity for selling the units off individually. Either strategy provides tremendous value-add potential.

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

6

PRICE/UNIT

$808,333

CAP RATE

Request Cap Rate

% LEASED

66%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6 Units | Individual APNs |Prime Sherman Oaks

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2007

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,214 SF

ZONING

LARD1.5

APN/PARCEL ID

2360-010-081

ASK ABOUT THIS PROPERTY

Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

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Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.