7249 Baird Ave, Reseda, CA 91335
- $9,650,000
- 41
- BD
- 41
- BA
- 29,588
- SqFt
- List Price
- $9,650,000
- MLS#
- 26852325
- Year Built
- 1989
- Bedrooms
- 41
- Bathrooms
- 41
- Living Sq. Ft
- 29,588
- Lot Size
- 25,500
- Lot Location
- Corner Lot
- Days on Market
- 34
- Property Type
- Multifamily
- Stories
- 2
Property Description
The Kelly Morgan Commercial Group is pleased to present a rare opportunity to acquire a 39 unit multifamily portfolio consisting of two properties located on the same block in Reseda, California: 27 units at 7249 Baird & 12 units at 18540 Wyandotte (both properties must be purchased together). The metrics on this listing pertain to the portfolio, not individually. The portfolio offers strong in place cash flow with a current 6.27% cap rate and 10.15 GRM, along with significant upside through rental increases and the potential development of up to 9 ADUs. Unlike many Los Angeles apartment properties, the assets are not subject to LA City Rent Control, allowing for annual rent increases of 5% plus CPI. Ideally located near Sherman Way and Reseda Boulevard, the properties benefit from an 86 Walk Score, convenient access to public transportation, nearby retail, dining, parks, and major educational institutions including CSUN and Pierce College. Combining immediate income, value-add potential, and a highly desirable San Fernando Valley location, this portfolio presents an attractive opportunity for investors seeking both cash flow and long-term appreciation. Disclaimer: Property sold as is, where is.
Additional Information
- Lot Description
- 2-4 Lots
- Other Buildings
- None
- Heat
- Wall
- Cooling
- Wall/Window
- Number of Cars in Garage
- Covered Parking
Mortgage Calculator
Courtesy of Houze Real Estate Management, Kelly Morgan - CA DRE#01898026
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