Sold
Closed
4525 Sepulveda Boulevard
Sherman Oaks CA, 91403
$2,700,000
$645.47 per sqft
Sold
Closed
4,183 sqft
Commercial
Built in 1952
Listed by Stephen F. Watson with Keller Williams Realty Downey 213-446-3636
Total Realty Group is proud to present this 4,183 SF building on a6,660 SF lot, abutting the 405 freeway and directly across the street from Whole Foods Market. This property is a solid investment on its current income and features. It is operating as 3units with an additional income from the billboard on top of it. It has 6 parking spaces, 2 for each unit. Behind the property is a public parking lot with over 50 spaces of public parking. The floors were recently updated in two of the units with vinyl wood planking.All the units pay for their own utilities and expenses. The owner has paid for the occasional AC and roof repair. Those are all great things, but what sets this property apart from others is that the billboard has applied to be a digital billboard. If accepted by California, the lease will increase to $73,000 a year to $129,000after 16 years. The advertised 8.8% proforma cap rate could eventually be a 10.9% cap rate which is unheard of in today's market. Another company, Adquick, has 96 digital billboards currently operated in Los Angeles so there is a likelihood that the current location will be accepted as well. Buyer to verify all information.
22206793
MLSⓇ ID
October 3, 2022
Listed
December 5, 2024
Updated
Map
4525 Sepulveda Boulevard
Sherman Oaks CA, 91403
Interior Features
Total Stories
0
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.15 Acres
Other Property Details
Area Name
SO - Sherman Oaks
Days on Market
50
Garage
No
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAC2
Listing History
Date | Event | Price |
|---|---|---|
5/18/2023 | Sold | $2,700,000 |
Listing Contact: 562-334-1500
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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 12/5/2024 at 1:30 AM UTC