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$ 3,495,000
Est. payment | /mo
12 Beds
29 Baths
11,351 SqFt
$ 3,495,000
Est. payment | /mo
12 Beds
29 Baths
11,351 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,351 sqft
Price per Sqft $307
MLS Listing ID 26662809
Bedrooms 12
HOA Y/N No
Year Built 1956
Lot Size 0.580 Acres
Property Description
Sherman Way Palace & Bakman Palms present a 28-unit multifamily investment opportunity across two adjacent parcels in Sun Valley. The offering includes a separately parceled fourplex (Bakman Ave), allowing for operational efficiencies through shared management while maintaining flexibility for future financing, refinancing, or potential individual disposition. Built in 19551956, the property totals approximately 11,351 square feet of improvements on a combined 25,278 SF lot and is zoned LAR3. The unit mix consists of (9) bachelor units, (8) studios, (10) one-bedroom/one-bath units, and (1) two-bedroom/two-bath unit, supporting broad tenant demand and stable occupancy. The asset offers strong in-place income with significant value-add potential, driven by mark-to-market rent growth and operational efficiencies. Ownership has completed multiple capital improvements, including copper plumbing, new windows, stone siding, fresh exterior paint, and gated entry, helping reduce near-term capital expenditure needs. Additional amenities include ample on-site surface parking and on-site laundry facilities, providing convenience for residents and additional income potential. Located in the eastern San Fernando Valley, the property benefits from convenient access to Burbank, North Hollywood, Panorama City, and Downtown Los Angeles, as well as proximity to Hollywood Burbank Airport, Interstate 5, and State Route 170, supporting strong workforce housing demand and long-term rental stability.
Location
State CA
County Los Angeles
Area Sunv - Sun Valley
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 22
Building
Story 2
Entry Level One,Multi/Split
Level or Stories One, Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2315022010
Special Listing Condition Standard
Listed by Tony Azzi Tony Azzi #00910513
Nearby Locations
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