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6225 Reseda Boulevard

Tarzana, CA 91335

$6,700,000

List Price

52

bed Beds

44

shower Baths

25,718 sqft

straighten / sqft

1962

calendar_month Built

Property Description

Constructed in 1962, the two-story building features an attractive unit mix containing mostly two-bedroom units. Current rents sit well below local market rates, allowing a new owner the potential to capitalize on approximately 54% in rent upside. Properties in the Tarzana submarket rarely become available, as only seven such buildings have sold within the past three years, according to CoStar COMPS. Given the recent and continuing development boom in neighboring Warner Center and Woodland Hills, this asset would allow an investor to take advantage of those new and upcoming amenities, albeit at a lower price point. Over the past three years, the average sales price per unit in Woodland Hills has been over $430,000 per unit, whereas Tarzana sales have averaged only $259,207 per unit. CAP Rates in Tarzana have also been approximately 51 basis points higher than in Woodland Hills, allowing Tarzana owners to earn greater returns on their investments despite the immediate proximity of the two neighboring cities. Situated near the intersection of Oxnard Street and Reseda Boulevard, the property allows residents convenient access to the new Topanga Village shopping center as well as the recently opened Topanga Social premium food hall. Adjacent to the upcoming Los Angeles Rams practice facility at 21555 Oxnard Street, team owner Stan Kroenke holds land entitled for a potential 35-acre mixed-use development. Proposals for the site show 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units. The $1 billion project would provide a significant amenities boost to the already thriving neighborhood, all of which benefits investors in the immediate area.

Listing Information

List Price $6,700,000
Status Active
MLS 24402503
Type Residential Income
Year Built 1962
Lot Size 32,400
Structure Size 25,718
DOM 64
Courtesy Of Marcus & Millichap
Listing Agent Roderick 'Rick' Raymundo DRE#01357019

Interior Features

Total Bedroom
Bedrooms 52
Total Bathroom
Bathrooms 44

Exterior Information

Maps

home_work Nearby Properties

Image

$2,500/month

king_bed 2
shower 2
straighten 833
straighten 22,919
6151 Reseda Boulevard, #5,

Tarzana, CA 91335
Image

$419,000

king_bed 2
shower 2
straighten 833
straighten 22,919
6151 Reseda Boulevard, #5,

Tarzana, CA 91335
Image

$1,999,000

king_bed 4
shower 4
straighten 3,338
straighten 10,989
18625 Delano Street,

Tarzana, CA 91335
Image

$2,828/month

king_bed N/A
straighten N/A
straighten 26,213
6104 Reseda Boulevard, #6104,

Tarzana, CA 91335
Image

$1,599,900

king_bed 5
shower 5
straighten 3,431
straighten 9,858
18635 Calvert Street,

Tarzana, CA 91335

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:44 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.