5027 Buffalo Avenue

Sherman Oaks, CA 91423

$3,800,000
Last Sold Price
26
Beds
22
Baths
12,792 Sq. Ft.
$297 / Sq. Ft.
12,792
Sq. Ft.
$297
per Sq. Ft.

Description

We are pleased to present 5027-5033 Buffalo Avenue, a 12-unit multifamily property located in the affluent community of Sherman Oaks, California. With an outstanding unit mix, including mostly two and three bedroom apartments, the property is well-positioned for an investor to capitalize on recent rent growth in the submarket with roughly 44% upside in rents . Constructed in 1961, the two buildings occupy an 11,691 square foot lot near the intersection of Riverside Drive and Woodman Avenue. The property...We are pleased to present 5027-5033 Buffalo Avenue, a 12-unit multifamily property located in the affluent community of Sherman Oaks, California. With an outstanding unit mix, including mostly two and three bedroom apartments, the property is well-positioned for an investor to capitalize on recent rent growth in the submarket with roughly 44% upside in rents . Constructed in 1961, the two buildings occupy an 11,691 square foot lot near the intersection of Riverside Drive and Woodman Avenue. The property has undergone several upgrades in the past, including new roofs on both buildings, newer exterior paint, and a new modern fence creating a private yard for one of the apartments. Seismic retrofitting has been completed along with select interiors that have been renovated, including some combination of luxury vinyl plank flooring, recessed lighting, quartz countertops, new cabinets, stainless steel appliances, upgraded bathrooms, ceiling fans, and a washer/dryer unit. The on-site laundry facilities are landlord-owned, allowing for a substantial amount of additional income. Located just north of the Westfield Fashion Square and Notre Dame High School, the property sits mere blocks from the boutiques and bistros of prestigious Ventura Boulevard.
  1. Listed by Sevak Keshishian • DRE #01887505 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 5027 Buffalo Avenue

Water Front
None
Zoning
LAR3
Parcel Number
2359024044
Total Units
12.0
Living Area
12792
Source Living Area
Vendor Enhanced
Area
Sherman Oaks (SO)
Vacancy Rate
No

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By Marcus & Millichap, Sevak Keshishian, DRE #01887505

Add your commute
LISTING UPDATED: 10/03/2023 10:07 AM

Property Details for 5027 Buffalo Avenue

StatusSold
MLS #23-259913
Days on Market170
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.27 AC / 11,632 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By Marcus & Millichap, Sevak Keshishian, DRE #01887505

Add your commute

Building Information for 5027 Buffalo Avenue

Stories2Residences-Year Built1961Building Size-Lot Size0.27 AC / 11,632 SF

Payment Calculator

$24,801 per month

30 year fixed, 7.25% Interest

Principal and Interest

$20,738

Property Taxes

$4,063

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5027 Buffalo Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Standard
  • Security Features: Gated
  • Property Condition: Updated/Remodeled
  • Water: District
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $290,773
  • Net Operating Income: $183,513.00
  • Gross Income: $296,632
  • Cap Rate: 4.54%
  • Gross Rent Multiplier: $13.48
  • Vacancy Allow Dollar: $8,899.00
  • Owner Pays: Water
  • Total Annual Expense: 109260
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.267
  • Lot Size Square Feet: 11632
  • Lot Location: Cul-De-Sac
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 12
  • Covered Parking: 12
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: Multi/Split
  • Fireplace Features: Den, Dining Room, Gas, Kitchen, Living Room, Master Bedroom
  • Fireplace Rooms: Den, Dining, Gas, Kitchen, Living Room, Master Bedroom
  • Cooling Type: Air Conditioning, Wall Unit(s)
  • Heating Type: Wall Gas
  • Equipment: Microwave, Dishwasher, Gas Or Electric Dryer Hookup, Garbage Disposal, Electric Dryer Hookup, Refrigerator, Range/Oven
  • Cooking Appliances: Gas/Electric Range, Oven
  • Laundry: Community, In Unit
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-13-2023
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,360.40
  • Unit Actual Rent: $2,721.00
  • Unit Projected Rent: $4,400.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,164.60
  • Unit Actual Rent: $12,988.00
  • Unit Projected Rent: $17,450.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,252.70
  • Unit Actual Rent: $9,011.00
  • Unit Projected Rent: $13,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,251,623.00
  • Assessed Improvement Percent: 60.0
  • Assessed Land Value: $1,501,082.00
  • Assessed Land Percent: 40
  • Assessed Total Value: $3,752,705.00

Property History for 5027 Buffalo 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 5027 Buffalo Avenue

Taxable ValueLand$1,561,725Additions$2,342,588Total$3,904,313
Tax Record2023$48,754 ($4,063 / month)
Home Facts
Total Finished SqFt12,792 SqFtAbove Grade Finished SqFt12,792 SqFtLot Size11,690 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLAR3CountyLOS ANGELESAPN2359-024-044

Schools near 5027 Buffalo Avenue

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

Louis D. Armstrong Middle School
Charter6 to 8

Ulysses S. Grant Senior High School
Public9 to 12

High Tech LA Middle
Charter6 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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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, Sevak Keshishian, DRE #01887505

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.