11329 Sherman Way - Apartments FOR SALE


Sun Valley, CA 91352
$3,495,000 USD
11329 Sherman Way, Sun Valley, CA for Sale
$3,495,000 USD
Apartments - FOR SALE
1/33
null | 5.39% Cap Rate

11329 Sherman Way
Sun Valley, CA 91352


HIGHLIGHTS

  • Strong In-Place Cash Flow with Massive Upside: The opportunity generates a ~5.4% in-place cap rate with a clear value-add path to a ~9.4% proforma cap
  • Two Adjacent Properties: Totaling 28 units, including a separately parceled fourplex, allows for shared management efficiencies
  • Diversified Unit Mix: The portfolio consists of (9) bachelor units, (8) studios, (10) one-bedroom /one-bath units, and (1) two-bedroom /two-bath unit
  • Major Capital Improvements Completed: Ownership has recently completed key exterior and system upgrades, including copper plumbing, new windows, +
  • Ample On-Site Parking: Large surface parking lot provides abundant resident parking
  • On-Site Laundry Facilities: Centralized on-site laundry room provides a convenient resident amenity while generating supplemental income for ownership

OVERVIEW

11329 Sherman Way and 7209 Bakman Avenue present a 28-unit multifamily investment opportunity comprised of two adjacent parcels in the Sun Valley neighborhood of Los Angeles. The offering includes a separately parceled fourplex, allowing for operational efficiencies through shared management while maintaining long-term flexibility for financing, refinancing, or potential future disposition strategies. Built in 1955–1956, the property totals approximately 11,351 square feet on a combined 25,278 square foot lot and features a diversified unit mix of bachelor, studio, one-bedroom, and two-bedroom units, supporting broad tenant demand and stable occupancy. The asset offers strong in-place income with a clear value-add opportunity through mark-to-market rent growth and operational improvements, providing investors the ability to enhance cash flow over time. Recent capital improvements—including copper plumbing, new windows, stone siding, fresh exterior paint, and gated entry—help reduce near-term capital expenditures while positioning the property for long-term ownership. Located in the eastern San Fernando Valley, the property benefits from convenient access to Burbank, North Hollywood, and major transportation corridors including Interstate 5 and State Route 170, as well as proximity to Hollywood Burbank Airport and surrounding employment centers. This strategic location supports consistent rental demand driven by the region’s workforce and growing residential population.

FOR SALE DETAILS

PRICE

$3,495,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

28

PRICE/UNIT

$124,821

CAP RATE

5.39%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7209 BAKMAN AVE & 11329 SHERMAN WAY

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

LAR3

APN/PARCEL ID

2315-022-009,2315-022-010

ASK ABOUT THIS PROPERTY

Tony AzziMarcus & MillichapMore Info

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Tony AzziMarcus & MillichapMore Info

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