$1,590,000

We are excited to present this 5-unit opportunity with huge potential, situated in a Prime Sherman Oaks/Studio City location near the historic Ventura Blvd with shops, dining, fun nightlife, Universal City, and The Getty Center. A hop, skip and jump to the neighborhood coffee hangout - M Street Cafe, or the newly remodeled shops and restaurants at the Sportsman Lodge, and two blocks from a tree-lined river walk and bike path. This complex is being brought to the market for the first time in 31 years; this building is home to incredible tenants, some of who have been there for 20+ years. This complex was built in 1951 and is 3,692 sqft with ten bedrooms and five baths, sitting on an approximately 7,116 sqft lot. Currently bringing in $8,574/ month in rent (one vacant unit) with a pro forma of $11,200/ month in total rent. Units are private and quaint and are built condo style, each with its own address. Rarely is there a vacancy available. It has one single-story unit on Moorpark and four two-story units on Ethel. The two-story units have a living space, dining area, full kitchen, and slider out to the pool on the main floor. As you go up the stairs, you will find two bedrooms and one bathroom in the hallway.4409 Ethel: This unit is currently vacant, and last year they upgraded the full bathroom and kitchen cabinets and replaced the carpet. A new dual air and heating unit was added to the front window as well as one of the bedrooms upstairs. They also upgraded the heating wall unit on the stairs.4411 Ethel: This past year, the whole unit was upgraded with laminate flooring and a fresh coat of paint. In January, a new dual air and heating unit was installed in the front window, and an upgraded heater for the stairs was ordered and will be installed once received.4413 Ethel: This unit had laminate flooring installed less than five years ago on the main floor. The stairs are carpeted, the bathroom is tiled, and the bedrooms have laminate flooring.4415 Ethel: This unit has laminate flooring in the living area and stairs, tile for kitchen floors, and the original hardwood flooring upstairs. A new stove was installed in 2022.13103 Moorpark: This is the only single-story unit. It has a private front yard which the client loves. As you enter the home, there is a large living area with beautiful wood-paneled ceilings. The kitchen, which has a newer stove/oven, has views of the pool and is right next to the slider, which leads you to the pool area. There is one bedroom in the front with a long hallway that features storage and shelves. At the back of the unit is the second bedroom and the full bathroom with a bathtub and standing stall shower. Only the exterior and 4409 Ethel are featured in the photographs. To secure the tenants' privacy, we have photos of the other units available upon request and further interest. The laundry room features one washer and dryer and is open to clients on-site. Each unit has one parking spot behind the unit and a security gate for the resident's protection. This is an excellent opportunity for investors, buyers, and builders in a prime Sherman Oaks/Studio City location!Dry rot woodwork has been completed. The eaves and window trims have been freshly painted. The seller has a deposit with a roofing company to tune up the flat roof on the building and carports. They will Seal lap joints using APOC 264 white mastic and seam tape, Seal all roof penetrations using APOC 264 white mastic, apply one coat base coat primer / bleed blocker, and apply two coats of acrylic elastomeric coating and will provide a 5-year warranty.