18611 Clark St - Apartments FOR SALE


Tarzana, CA 91356
$2,600,000 USD
310-270-8423
18611 Clark St, Tarzana, CA for Sale
$2,600,000 USD
Apartments - FOR SALE
1/27
null | 6.68% Cap Rate

18611 Clark St
Tarzana, CA 91356


HIGHLIGHTS

  • Desirable Tarzana location sandwiched between Woodland Hills, Encino, and Reseda
  • Property Delivered FULLY VACANT - Excellent unit mix consisting of Six 2BR/2BA, One 3BR/2BA & One 3BR/2BA + Den
  • Largee 11,651 SF Lot Zoned LA R3
  • Completed Earthquake Seismic Retrofit
  • Ample Parking on Site
  • Close proximity to a plethora of Fine Dining, Shopping, and Entertainment options on Ventura Blvd

OVERVIEW

*** Property is 100% VACANT. 18611 Clark Street is an 8-unit multifamily apartment building in the heart of Tarzana, one of the San Fernando Valley's most established and consistently desirable rental submarkets. Situated just north of Ventura Boulevard, Tarzana's primary retail and dining corridor, with immediate access to the 101 Freeway and the broader Ventura spine, the property sits within a City of LA rent-stabilized submarket defined by limited developable land, strong owner-occupant demand, and a persistent undersupply of quality rental housing. The property is a mid-century 1964-vintage building comprising approximately 7,960 square feet of improvements on an 11,651-square-foot LAR3 lot, with a family-friendly unit mix of six 2BR/2BA units, one 3BR/2BA unit, and one 3BR/2BA + Den unit, a large-unit configuration that appeals directly to the long-tenure family renters who anchor demand in the Tarzana submarket. The building has already completed its mandatory soft-story seismic retrofit (September 2020). Most importantly, the property is being delivered 100% vacant, an exceptionally rare offering in a City of LA RSO submarket, allowing an incoming owner to renovate, reposition, and lease all eight units at market rents from day one, free of the rent-roll drag and tenant-in-place constraints that typically weigh on rent-controlled Valley assets. 18611 Clark Street represents a compelling opportunity to acquire a value-add multifamily asset in one of the San Fernando Valley's most supply-constrained rental corridors.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$251 USD /SF

# OF UNITS

8

PRICE/UNIT

$325,000

CAP RATE

6.68%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,648 SF

ZONING

LAR3

APN/PARCEL ID

2160-005-012

ASK ABOUT THIS PROPERTY

Michael MonempourLyon Stahl Investment Real EstateMore Info
310-270-8423

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

Michael MonempourLyon Stahl Investment Real EstateMore Info
310-270-8423

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