14696 Rayen Street, Panorama City, California 91402
(Sold At) $4,700,000
Property Details
Property Description
Address: 14696 Rayen Street
City: Panorama City
State: CA
ZIP: 91402
Square Feet:
Bedrooms:
Bathrooms:
Basement:
Additional Features:
For Sale
14696-rayen-street-om-10-26-16
Property Summary
Lambert Investments, Inc. proudly offers For Sale a 27 multifamily unit apartment building located in the densely populated area of Panorama City. Property is well located with easy access to the 405, 118 and 5 Freeways which offers a strong rental market. Bread and butter building in a solid residential neighborhood with convenient access to retail shopping centers and metro bus stops.
The property was built in 1964 totaling 19,742 square feet on a large lot of 23,196 square feet. Great unit mix consisting of 7 One Bedroom – One Bath units, 18 Two Bedroom – Two Bath units, 1 Three Bedroom – One Bath unit and 1 Studio – One Bath unit. All units have new A/C units and new fire resistant front doors. Complete Exterior painting of the entire building and parking lot including driveway resurfacing completed in October 2016.
Plumbing consists of combination of copper and galvanized. Tenant laundry room provides additional income to the owner of approximately $540 per month, laundry machines are leased and maintained by All Valley Washer Service. This property offers a great unit mix in a dense rental market great for investors looking for a substantial rental upside.
Drive by only, do not disturb the tenants.
View inside of units with accepted offer only.
Unit # Unit Mix Actual Rents
1 1 Bedroom – 1 Bath $ 939.00
2 2 Bedroom – 2 Bath $1,287.00
3 2 Bedroom – 2 Bath $1,365.00
4 2 Bedroom – 2 Bath $1,495.00
5 2 Bedroom – 2 Bath $1,290.00
6 2 Bedroom – 2 Bath $1,199.00
7 2 Bedroom – 2 Bath $1,291.00
8 2 Bedroom – 2 Bath $1,237.00
9 1 Bedroom – 1 Bath $1,104.00
10 1 Bedroom – 1 Bath $1,104.00
11 1 Bedroom – 1 Bath $1,028.00
12 3 Bedroom – 1 Bath $1,661.00
13 2 Bedroom – 2 Bath $1,205.00
14 2 Bedroom – 2 Bath $1,276.00
15 2 Bedroom – 2 Bath $1,404.00
16 2 Bedroom – 2 Bath $1,240.00
17 2 Bedroom – 2 Bath $1,144.00
18 2 Bedroom – 2 Bath $1,550.00
19 2 Bedroom – 2 Bath $1,337.00
20 1 Bedroom – 1 Bath $1,003.00
21 2 Bedroom – 2 Bath $1,245.00
22 2 Bedroom – 2 Bath $1,240.00
23 2 Bedroom – 2 Bath $1,303.00
24 1 Bedroom – 1 Bath $1,011.00
25 2 Bedroom – 2 Bath $1,352.00
26 1 Bedroom – 1 Bath $ 964.00
27 Studio – 1 Bath $1,100.00
Laundry $ 540.00
MONTHLY INCOME TOTAL: $ 33,914.00
ANNUAL INCOME TOTAL: $406,968.00
Actual Annual Expenses
Repairs & Maintenance: $ 46,207.00
Insurance: $ 4,893.00
Landscaping: $ 1,050.00
Electric, Water & Sewer (DWP): $ 28,036.00
Gas: $ 11,418.00
Trash: $ 3,985.00
Pest Control: $ 171.00
LAHD Registration: $ 1,831.00
Total Actual Annual Expenses: $ 97,591.00
Monthly Income: $ 33,914.00
Annual Income: $ 406,944.00
New Taxes: $ 59,987.50
Annual Expenses: $ 157,578.50
Location
14696 Rayen Street, Panorama City, California 91402
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