18046 Erwin St - Apartments FOR SALE


Encino, CA 91316 | 
$1,250,000 USD
858-736-6699
18046 Erwin St, Encino, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

18046 Erwin St
Encino, CA 91316


OVERVIEW

The Valley Commercial Group, Inc. is pleased to offer an exclusive infill development in the prestigious community of Encino, CA. This fully- permitted project consists of one single-family home undergoing complete renovation and one newly constructed detached two-story ADU on a large lot. The main residence is approximately 3,709 square feet, with potential for expansion, while the separate ADU offers 1,189 square feet with views. Both structures are under construction, with the main residence approximately 30% completed and the ADU approximately 80% completed. The large site retains ample open space for buffering between the structures and offers sufficient onsite parking for multiple vehicles. The ADU could be completed in 60-days, which would allow for an owner to live in the ADU while completing work on the renovation of the main residence. Project Highlights: RTI Plans Approved Prime Encino Location Proposed Main Residence: Approximately 3,709 SF Detached ADU: Approximately 1,189 SF Total Finished Living Area: Approximately 4,898 SF Large Residential Lot Offered at Listing Price Current Project Status: Detached ADU is approximately 75% complete. Permit and entitlement process has been completed. Significant time and expense have already been invested into the project. Seller is looking to liquidate and move on to other projects. Estimated Remaining Construction: Main Residence Construction: Approximately $1,020,000 ADU Completion: Approximately $125,000 Pool: Approximately $125,000 Driveway / Concrete Finishes: Approximately $45,000 Landscaping: Approximately $25,000 Built-In BBQ: Approximately $25,000 Front Gate: Approximately $35,000 Estimated Remaining Construction Budget: Approximately $1.4M Based on our preliminary analysis and recent Encino new construction activity, we believe the completed project has the potential to achieve a value in the range of approximately $3.1M to $3.3M depending on finishes, execution, and market conditions. One of the biggest advantages of this opportunity is that the entitlement work has already been completed and the ADU is substantially underway, allowing a developer to focus on execution rather than spending time and capital navigating the approval process.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

2

PRICE/UNIT

$625,000

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

2123-023-098

ASK ABOUT THIS PROPERTY

Michael GionThe Valley Commercial Group IncMore Info
858-736-6699

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Michael GionThe Valley Commercial Group IncMore Info
858-736-6699

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.