6225 Reseda Boulevard

Tarzana, CA 91335

$6,700,000
Price
52
Beds
44
Baths
25,718 Sq. Ft.
$261 / Sq. Ft.
25,718
Sq. Ft.
$261
per Sq. Ft.

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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 6225 Reseda Boulevard

Zoning
LAR3
Parcel Number
2127015031
Total Units
30.0
Living Area
25718
Source Living Area
Vendor Enhanced
Area
Tarzana (TAR)
Vacancy Rate
0
Lot Size Area
32400
LISTING UPDATED: 06/18/2024 12:01 AM

Property Details for 6225 Reseda Boulevard

StatusActive
MLS #24-402503
Days on Market164
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.74 AC / 32,400 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 30
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 30
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $530,640
  • Net Operating Income: $270,696.00
  • Gross Income: $536,292
  • Cap Rate: 4.04%
  • Gross Rent Multiplier: $12.25
  • Total Annual Expense: 259944
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.744
  • Lot Size Square Feet: 32400
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 30
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 06-10-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $902.00
  • Unit Actual Rent: $1,804.00
  • Unit Projected Rent: $3,390.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,134.00
  • Unit Actual Rent: $9,077.00
  • Unit Projected Rent: $15,560.00
  • Like Units: 8
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,606.00
  • Unit Actual Rent: $16,062.00
  • Unit Projected Rent: $23,450.00
  • Like Units: 10
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,802.00
  • Unit Actual Rent: $10,815.00
  • Unit Projected Rent: $14,670.00
  • Like Units: 6
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,733.00
  • Unit Actual Rent: $6,933.00
  • Unit Projected Rent: $11,980.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $4,610,467.00
  • Assessed Improvement Percent: 69.35
  • Assessed Land Value: $2,037,182.00
  • Assessed Land Percent: 30.65
  • Assessed Total Value: $6,647,649.00

Property History for 6225 Reseda Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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

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6225 Reseda Boulevard is a multi-family home for sale in Tarzana, CA 91335. This property was listed for sale on June 10, 2024 by Marcus & Millichap, it's currently listed at $6,700,000. It has been on the market for a total of 164 days and was last sold on April 13, 2024. This listing's school district is Los Angeles Unified School District. Nearby schools include Vanalden Avenue Elementary School, Gaspar De Portola Middle School and Reseda Senior High School. 6225 Reseda Boulevard is a 52-bed, 44-bath, 25,718 sqft multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.