6500 Shirley Avenue

Reseda, CA 91335

$3,395,000
Price
24
Beds
16
Baths
11,754 Sq. Ft.
$289 / Sq. Ft.
11,754
Sq. Ft.
$289
per Sq. Ft.

Description

16 units in quiet Reseda neighborhood. Twin 8 - unit buildings that are separately deeded. 6500-10 Shirley Avenue. Huge lot - 22,859 sq. ft. with beautiful courtyard. Excellent unit mix - 8 - 1 bedroom + 1 bath and 8 - 2 bedroom + 1 bath units. The buildings were built in 1958 and there is 11,754 sq. ft. of building. Long term owner. The rents are significantly below market with over 50% upside in the rents. Onsite laundry. Individually metered for gas and electricity. New electrical panels. Because...16 units in quiet Reseda neighborhood. Twin 8 - unit buildings that are separately deeded. 6500-10 Shirley Avenue. Huge lot - 22,859 sq. ft. with beautiful courtyard. Excellent unit mix - 8 - 1 bedroom + 1 bath and 8 - 2 bedroom + 1 bath units. The buildings were built in 1958 and there is 11,754 sq. ft. of building. Long term owner. The rents are significantly below market with over 50% upside in the rents. Onsite laundry. Individually metered for gas and electricity. New electrical panels. Because the buildings are on separately deeded parcels, an onsite manager is not required although there is one. The CAP rate increases to 4.53% without an onsite manager. There is an excellent assumable loan with Chase. The current loan balance is$1,077,393, 3.25% fixed until 02/2029. The current monthly payment is $5,442.42. The property is centrally located in the San Fernando Valley with easy freeway access. Close to California State University, Northridge, Pierce Junior College, Warner Center and the Topanga Plaza Shopping Mall. The property can be purchased along with 19406 Gilmore Ave, 6 units located only 7 parcels from the subject property.
  1. Listed by Michael A Salerno • DRE #01212427 • Brokerage DRE #01212427 • Michael Anthony Salerno

Property Details for 6500 Shirley Avenue

Zoning
LAR3
Parcel Number
2131025015
Total Units
16.0
Living Area
11754
Source Living Area
Assessor
Area
Reseda Ranch (RESR)
Vacancy Rate
5
Lot Size Area
22859
LISTING UPDATED: 10/29/2024 12:01 AM

Property Details for 6500 Shirley Avenue

StatusActive
MLS #24-455178
Days on Market32
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.52 AC / 22,859 SF
CountyLos Angeles County

Building Information for 6500 Shirley Avenue

Stories2Residences-Year Built1958Building Size-Lot Size0.52 AC / 22,859 SF

Property Information for 6500 Shirley Avenue

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $255,420
  • Net Operating Income: $131,212.00
  • Gross Income: $268,758
  • Gross Rent Multiplier: $12.60
  • Vacancy Allow Dollar: $13,338.00
  • Total Annual Expense: 124208
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2517
  • Lot Size Square Feet: 22859
Parking Details
Parking Details
  • Parking Garage: Carport Detached
  • Total Parking: 16
  • Parking Features: Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Refrigerator, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $9,980.00
  • Unit Actual Rent: $9,980.00
  • Unit Projected Rent: $14,650.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $12,249.00
  • Unit Actual Rent: $12,249.00
  • Unit Projected Rent: $17,600.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $423,143.00
  • Assessed Improvement Percent: 54.76
  • Assessed Land Value: $349,549.00
  • Assessed Land Percent: 45.24
  • Assessed Total Value: $772,692.00

Property History for 6500 Shirley Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 6500 Shirley Avenue

Taxable ValueLand$356,539Additions$434,155Total$790,694
Tax Record2024$10,733 ($894 / month)
Home Facts
Total Finished SqFt5,881 SqFtAbove Grade Finished SqFt5,881 SqFtLot Size10,958 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLAR3CountyLOS ANGELESAPN2131-025-015

Schools near 6500 Shirley Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 5
Charter - 6 to 8
Charter - 9 to 12
Public - 11 to 12
Rating
School
Distance
Calvert Charter For Enriched Studies
CharterK 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.

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6500 Shirley Avenue is a multi-family home for sale in Reseda, CA 91335. This property was listed for sale on October 21, 2024 by Michael Anthony Salerno, it's currently listed at $3,395,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Calvert Charter For Enriched Studies, Gaspar De Portola Middle School and Reseda Senior High School. 6500 Shirley Avenue is a 24-bed, 16-bath, 11,754 sqft multi-family home built in 1958.

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 Michael Anthony Salerno, Michael A Salerno, DRE #01212427

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.