14556 Magnolia Boulevard
Sherman Oaks, CA 91403
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1961 build
- – on site
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***PRICE REDUCED ADDITIONAL $500,000*** We are pleased to present the Terraces at the Summit, a 50-unit value add apartment building located at 14556 Magnolia Boulevard in Sherman Oaks, California. Current rents are approximately 22% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. Built in 1961, the property features a favorable unit mix consisting of (17) studio/one-bathroom units and (33) one-bedroom/one-bathroom units. Units feature wood flooring, granite countertops, dishwasher, microwave and floor to ceiling living room windows (select units). Property amenities include secured access, pool, grill/picnic area, lounge, fitness center, laundry facility, elevator and gated subterranean parking. The 39,198 square foot building sits on a large 0.57 acre lot that is LAR3 zoned. The Terraces at the Summit is located in Sherman Oaks, one of the best rental submarkets in Los Angeles County with historically low vacancy rates. The property is in close proximity to grocery stores, restaurants and retail on Van Nuys Boulevard as well as vibrant cafes, fine dining, high-end chic retail and nightlife on nearby Ventura Boulevard. The property is conveniently located near the 405 and 101 freeways and just a short drive to major job centers such as Woodland Hills, Encino, North Hollywood, Burbank and Glendale.
Last checked:
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Last updated Jan 18, 2025
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MLS# 24427717 —
The Building
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Year Built:1961
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New Construction:No
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Building Area Total:39198.00
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Total Number Of Units:50
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# of Buildings:1
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Stories Total:3
Interior
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Levels:Three Or More
Location
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Directions:On Magnolia Blvd in between Van Nuys Blvd and Kester Ave.
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Latitude:34.16456300
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Longitude:-118.45062600
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:24996.0000
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Lot Size Acres:0.5738
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Lot Size SqFt:24996.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:2263035023
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Covered
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/9/25
Jan 9, 2025
|
Sold | CRMLS_CA | $10,000,000 | -4.3% |
|
12/9/24
Dec 9, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $10,450,000 | |
|
10/29/24
Oct 29, 2024
|
Price Changed | CRMLS_CA | $10,450,000 | -4.6% |
