14375 Polk Street

Sylmar, CA 91342

$4,580,000
Price
33
Beds
25
Baths
15,848 Sq. Ft.
$289 / Sq. Ft.
15,848
Sq. Ft.
$289
per Sq. Ft.

Description

We are proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retrot work, a repaired roof, and interior renovations to select units that include new counter-tops,...We are proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retrot work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and ooring, along with re-glazed bathtubs and new tile. The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually. The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate x ed through May 2027. Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal. Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 14375 Polk Street

Zoning
LARD6
Parcel Number
2504015010
Total Units
23.0
Living Area
15848
Source Living Area
Vendor Enhanced
Area
Sylmar (SYL)
Vacancy Rate
3%
Lot Size Area
19804

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute
LISTING UPDATED: 05/04/2024 12:01 AM

Property Details for 14375 Polk Street

StatusActive
MLS #24-384961
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.45 AC / 19,804 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute

Building Information for 14375 Polk Street

Stories-Residences-Year Built1964Building Size-Lot Size0.45 AC / 19,804 SF

Payment Calculator

$28,638 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,995

Property Taxes

$3,643

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 14375 Polk Street

Community / Development
Community / Development
  • Number Of Units: 23
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Market
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $374,257
  • Net Operating Income: $204,674.00
  • Gross Income: $385,832
  • Cap Rate: 4.47%
  • Gross Rent Multiplier: $11.87
  • Total Annual Expense: 172583
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4546
  • Lot Size Square Feet: 19804
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 0
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-26-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,288.00
  • Unit Actual Rent: $16,744.00
  • Unit Projected Rent: $21,450.00
  • Like Units: 13
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,491.00
  • Unit Actual Rent: $10,434.00
  • Unit Projected Rent: $13,965.00
  • Like Units: 7
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,658.00
  • Unit Actual Rent: $4,975.00
  • Unit Projected Rent: $6,300.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,048,091.00
  • Assessed Improvement Percent: 60.0
  • Assessed Land Value: $1,365,392.00
  • Assessed Land Percent: 40
  • Assessed Total Value: $3,413,483.00

Property History for 14375 Polk Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 14375 Polk Street

Taxable ValueLand$1,365,392Additions$2,057,341Total$3,422,733
Tax Record2023$43,718 ($3,643 / month)
Home Facts
Total Finished SqFt15,848 SqFtAbove Grade Finished SqFt15,848 SqFtLot Size19,797 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLARD6CountyLOS ANGELESAPN2504-015-010

Schools near 14375 Polk Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Sylmar Elementary School
PublicK to 5

Olive Vista Middle School
Public6 to 8

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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14375 Polk Street is a multi-family home for sale in Sylmar, CA 91342. This property was listed for sale on April 26, 2024 by Marcus & Millichap, it's currently listed at $4,580,000. It has been on the market for a total of 13 days and was last sold on November 17, 2015. This listing's school district is Los Angeles Unified School District. Nearby schools include Sylmar Elementary School, Olive Vista Middle School and Cesar E. Chavez Learning Academies-Teacher Preparation Academy. 14375 Polk Street is a 33-bed, 25-bath, 15,848 sqft multi-family home built in 1964.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

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.