8151 RESEDA, Reseda, CA 91335

List Price
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Sprinklers None
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Property Description

For sale Camelot Apartments, a value-add 20-unit garden-style building located in the San Fernando Valley neighborhood of Reseda. The property is priced well below replacement cost at $272 per square foot and offers immediate upside as the rents are below market and the building is not rent controlled. At the asking price of $5,200,000, the current cap rate is 4.65% with a GRM of 12.6. We estimate that if a buyer were to spend roughly $20,000 per unit in upgrades, the buyer would achieve a 5.21% cap rate "all in", including the renovation costs. Built in 1987, the property features a desirable unit mix of 18 two-bedroom units and two one-bedroom units averaging almost 900 square feet per unit. The building has gated garage parking with at least one space per bedroom. Units are separately metered for gas and electricity and feature central heat and air conditioning.

Additional Information

Garbage Disposal, Dishwasher
Total Number of Units

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Calculator source: Real Geeks

Listing courtesy of Laurie Lustig from Laurie J. Lustig

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.