Properties | Sherman Oaks Riviera

Sherman Oaks Riviera

37-Unit, Rare Value-Add Opportunity

14620 Dickens St. | Sherman Oaks, CA

Sales Price: $12,250,000

Units: 37

Price per Unit: $331,081

Price per Sq. Ft.: $402.83

Current CAP: 3.47%

Current GRM: 16.75

Market CAP: 5.00%

Market GRM: 13.45

Year Built: 1960

Lot Size Sq. Ft.: 35.967

Gross Bldg. Sq. Ft.: 30,410

Net Rentable Sq. Ft.: 30,375

Close of Escrow: 3/21/2018

 The Harris Group, as the exclusive listing agent, is pleased to present the opportunity to acquire Sherman Oaks Riviera apartments, a 37-unit multifamily community located at 14620 Dickens Street in Sherman Oaks, CA. The Property is comprised of one building totaling 30,410 gross square feet. The offering presents a rare opportunity to acquire an asset in a prominent area of Sherman Oaks with significant value-add potential (over 37% projected upside) via a strategic renovation program. There is an opportunity to implement a strategic renovation plan to upgrade both the exterior/common areas as well as the interior areas with  high-end luxurious finishes, featuring vinyl plank flooring, hard surface countertops, stainless steel appliances, new cabinetry and fixtures, and modern lighting. The unit mix is comprised (24) 1-bedroom units, (11) 2-bedroom units, and (2) 3-bedroom units with an average unit size of approximately 889 SF.