Sherman Oaks, CA 91403,15286 Sutton ST
Sherman Oaks, CA 91403,15286 Sutton ST
Sherman Oaks, CA 91403,15286 Sutton ST
Sherman Oaks, CA 91403,15286 Sutton ST
Sherman Oaks, CA 91403,15286 Sutton ST
Sherman Oaks, CA 91403,15286 Sutton ST
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$5,125,000

$5,350,000

4.2%
Est.Price: ?

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Est. payment /mo

6 Beds

19 Baths

9,560 SqFt


SOLD DATE : 10/22/2024

Key Details

Sold Price $5,125,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 9,560 sqft

Price per Sqft $536

MLS Listing ID 24392519

Sold Date 10/22/24

Bedrooms 6

HOA Y/N No

Year Built 1964

Lot Size 8,141 Sqft

Property Description

15285 Sutton Street is a 19-unit apartment community located in a premier Sherman Oaks neighborhood. The building is on a tree-lined street and boasts great freeway access to the 405. The offering allows investors to acquire an irreplaceable turn-key asset in one of LA's most dynamic and stable markets. The property is well-maintained and has incredible curb appeal. The unit interiors offer a blend of midcentury style with modern convenience. Their vintage style offers ample cabinet and storage space in their open layout. Many units have a balcony with great natural light throughout. Ownership has just completed the buildout of three brand-new ADUs, totaling 1,416 additional square feet. The designs are modern, with brand-new bathrooms, kitchens, appliances, flooring, and sleek fixtures. Ownership has achieved great rents and set a model for future income.15286 Sutton Street is being offered for sale at a 6.2% Cap Rate and 11.2 GRM. The property is master-metered for electricity, water, and gas. Current ownership has implemented a RUBs System (Ratio Utility Billing System). The property is well-parked, with 15 onsite parking spaces. Soft-Story retrofit was completed in 2019. This building is located right off Sepulveda, two blocks south of Ventura Boulevard. It is close to Whole Foods, Blue Dog Tavern, Sherman Oaks Galleria, 24-Hour Fitness, and Yoga Studios, making it super convenient for tenants. With its prime location in Sherman Oaks, 15286 Sutton Street is an outstanding rental location for residents looking for immediate access to major employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.

Location

State CA

County Los Angeles

Area So - Sherman Oaks

Zoning LAR4

Interior

Fireplace No

Exterior

Total Parking Spaces 15

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2276042006

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Nick Astrupgaard • KW Commercial Studio City
Bought with Lori Michell Marks • Douglas Elliman Of California
agent-avatar

+1(714) 743-9882

info@gatehouseproperties.com

Costa Mesa, CA, 92626, United States

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