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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$4,200,000

Est. payment - /mo

20 Beds

16 Baths

9,104 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,104 sqft

Price per Sqft $461

MLS Listing ID 26105094

Bedrooms 20

HOA Y/N No

Year Built 2019

Lot Size 9,578 Sqft

Property Description

11408 Sarah Street is a 10-unit multifamily property built in 2019 and located in Studio City near the Toluca Lake border. As newer construction, the property is exempt from the Los Angeles Rent Stabilization Ordinance (RSO) and AB 1482 rent restrictions, giving ownership the flexibility to set rents at market. The property encompasses approximately 9,104 square feet of living space on a 0.22 acre lot and features a unit mix of (4) 3BR/2BA units, (2) 2BR/2BA units, and (4) 1BR/1BA units (one of the 1+1 units is designated Very Low Income). The property currently generates gross scheduled income of $28,780 per month ($345,360 annually), supplemented by approximately $5,300 in annual utility reimbursement income. The building consists of 3 stories of Type V construction over a ground-level parking garage, with a lobby and hydraulic elevator. The Certificate of Occupancy was issued in October 2019, and the property is fully fire sprinklered with a fire alarm system, both finaled in 2019 (per LADBS permit records). As recent construction, the property offers new ownership modern building systems and minimal near-term capital expenditure requirements. Each unit features an individual split-system HVAC unit and a separate water sub-meter, allowing ownership to recapture water costs from residents. The ground-level garage provides residents with on-site parking, and elevator service offers convenient access to all floors. The property last sold in 2021 for $5.7M and was appraised last year at $6.1M, offering a steep discount at today's asking price of $4.2M. Ideally situated in the vibrant Studio City submarket, 11408 W Sarah Street is minutes from Universal Studios Hollywood, Warner Bros. Studios, and the shops and dining along Ventura Boulevard. The Metro B Line and the 101, 134, and 170 freeways provide easy access to Hollywood, Burbank, and Downtown Los Angeles. Proximity to major entertainment employers supports strong and consistent rental demand.

Location

State CA

County Los Angeles

Area Stud - Studio City

Zoning LARD1.5

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Covered, Garage, Gated, One Space, Community Structure, Tandem

Garage Spaces 17.0

Garage Description 17.0

Total Parking Spaces 17

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 2365013027

Special Listing Condition Standard

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Listed by Jake Glaser Lyon Stahl Investment Real Estate, Inc. #02128816

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California 92625, USA

11408 W Sarah ST North Hollywood, CA 91602

Ernie Caponera

Key Details

Location

Interior

Exterior

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Others

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11408 W Sarah ST