Active

6225 Reseda Boulevard

Tarzana CA, 91335

$6,700,000


$260.52 per sqft

Active

52 Beds

44 Baths

25,718 sqft

Residential

Built in 1962

Constructed in 1962, the two-story building features an attractive unit mix containing mostly two-bedroom units. Current rents sit well below local market rates, allowing a new owner the potential to capitalize on approximately 54% in rent upside. Properties in the Tarzana submarket rarely become available, as only seven such buildings have sold within the past three years, according to CoStar COMPS. Given the recent and continuing development boom in neighboring Warner Center and Woodland Hills, this asset would allow an investor to take advantage of those new and upcoming amenities, albeit at a lower price point. Over the past three years, the average sales price per unit in Woodland Hills has been over $430,000 per unit, whereas Tarzana sales have averaged only $259,207 per unit. CAP Rates in Tarzana have also been approximately 51 basis points higher than in Woodland Hills, allowing Tarzana owners to earn greater returns on their investments despite the immediate proximity of the two neighboring cities. Situated near the intersection of Oxnard Street and Reseda Boulevard, the property allows residents convenient access to the new Topanga Village shopping center as well as the recently opened Topanga Social premium food hall. Adjacent to the upcoming Los Angeles Rams practice facility at 21555 Oxnard Street, team owner Stan Kroenke holds land entitled for a potential 35-acre mixed-use development. Proposals for the site show 280,000 square feet of restaurant and retail offerings, hotels, offices, and residential units. The $1 billion project would provide a significant amenities boost to the already thriving neighborhood, all of which benefits investors in the immediate area.

24402503

MLS ID

June 10, 2024

Listed

September 27, 2024

Updated

Map

6225 Reseda Boulevard
Tarzana CA, 91335

Interior Features

Total Stories

2


Bedrooms

52


Total Bathrooms

44


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.74 Acres

Other Property Details

Area Name

TAR - Tarzana


Days on Market

8


Garage

No


Parking

Assigned


Parking Total

30


View

No


County

Los Angeles


Pool

No


Zoning

LAR3

Listed by Roderick 'Rick' Raymundo, Marcus & Millichap, CA DRE 01357019

Listing Contact: 213-943-1855 

Based on information from the CRISNet MLS as of 9/27/2024, 10:35 PM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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