14375 Polk Street
Sylmar, CA, 91342 $ 4,580,000
Bedrooms33 Baths25.0 Sq 15,848 Monthly Estimate*
$ 31,993
Listed by Marcus & Millichap
for $4,580,000 with 33 bedrooms and 25 full baths. This 15,848 square foot home was built in 1964 on a lot size of 0.4546.
We are proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retrot work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and ooring, along with re-glazed bathtubs and new tile. The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually.The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate x ed through May 2027. Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal. Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.
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FeaturesGeneralZoning LARD6
Year Built 1964
Stories 2
Levels Two
Gross Income 385832.0
County Los Angeles
Net Operating Income 204674.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Polk & Borden
City Sylmar
View Y/N N
Senior Community Y/N N
Total Units 23
MLS Area SYL - Sylmar
Lot Size Square Feet 19804.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Polk
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Standard Status Active
Cap Rate 4.47
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ExteriorParking Features Covered
Total Parking 0.0
Lot Size Area 19804.0
Number of Buildings 1
Spa N
Building Area Total 15848.0
Lot Size Acres 0.4546
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 0
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Street
Total Bedrooms 33
Electric On Property Y/N N
Total Baths 25
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $31,993
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Sylmar, CA
Average List Price $2,854,750
Percent of Sale Price 38%
About Sylmar, CA 95,896 Population
17% Since 2002
$ 64,457 Median Income
34.66 Median Age
38% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/26/2024 | $4,580,000 | | Listed Price |