The 2-4 Unit Specialists are pleased to offer for sale 15114 Magnolia Blvd, a triplex located in an exceptional Sherman Oaks location that is zoned R3 and is an amazing building opportunity. Priced at an unbeatable $950,000 and price/SF of $349.39, this is the best value you’ll find in all of Sherman Oaks. The average price/SF of 2-4 unit properties in the area is $427.23, so this triplex is going to go fast. The property consists of a charming freestanding house (2b/1b) which has its own private, enormous backyard & patio, and a 2-unit building (1b/1b and 3b/1b). These 3 spacious units are located on a 6,253 SF lot minutes from the countless Sherman Oaks neighborhood destinations and hotspots. 15114 Magnolia presents buyers numerous routes to major profit: 1. Build! A 6,253 square foot R3 lot for $950,000 is hard to find! Two lots of the same size on Magnolia a few blocks down sold in 2016 for a much higher price. 14822 Magnolia sold for $1,050,000 and 14816 Magnolia sold for $1,000,000. Snap this up for $950,000 and move forward with a profitable development project. 2. Buy and hold! 15114 Magnolia’s rents are significantly under market and there is massive upside. The pro forma cap rate is 5.79%. 3. Live and rent! The freestanding house at the rear of the property would be an excellent owner-occupied dwelling. Enjoy your privacy while ensuring steady income from the front two units. This property boasts ample parking options; 3 single-car garages and an oversized driveway. Other remarkable features include a 2014 installed roof, new hot water heaters, hardwood flooring in all 3 units, and drought-resistant landscaping. The freestanding house at the rear of the property also features an impressive wood-burning fireplace, its own laundry room, and an enclosed backyard area featuring Southern California style landscaping and a patio with an outdoor fireplace for easy outside entertaining.
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