6225 Reseda Boulevard
$6,700,000
52
44
25,718
25,718
$261
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,...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.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 6225 Reseda Boulevard
Zoning
LAR3
Parcel Number2127015031
Total Units30.0
Living Area25718
Source Living AreaVendor Enhanced
AreaTarzana (TAR)
Vacancy Rate0
Lot Size Area32400
LISTING UPDATED: 06/18/2024 12:01 AM
Property Details for 6225 Reseda Boulevard
Status | Active |
---|---|
MLS # | 24-402503 |
Days on Market | 164 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1962 |
Lot Size | 0.74 AC / 32,400 SF |
County | Los Angeles County |
Building Information for 6225 Reseda Boulevard
Stories2Residences-Year Built1962Building Size-Lot Size0.74 AC / 32,400 SF
Property Information for 6225 Reseda Boulevard
Property History for 6225 Reseda Boulevard
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6225 Reseda Boulevard
Taxable ValueLand$2,077,925Additions$4,710,176Total$6,788,101
Tax Record2024$85,478 ($7,123 / month)
Home Facts
Total Finished SqFt25,718 SqFtAbove Grade Finished SqFt25,718 SqFtLot Size32,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAR3CountyLOS ANGELESAPN2127-015-031
Schools near 6225 Reseda Boulevard
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Charter - | 6 to 8 | |||
Charter - | 9 to 12 | |||
Public - | 4 to 12 |
Rating | School | Distance |
---|---|---|
Vanalden Avenue Elementary School PublicK to 5 | ||
Gaspar De Portola Middle School Charter6 to 8 | ||
Reseda Senior High School Charter9 to 12 | ||
Sherman Oaks Center For Enriched Studies Public4 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.