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$ 2,500,000
Est. payment | /mo
7,960 SqFt
$ 2,500,000
Est. payment | /mo
7,960 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,960 sqft
Price per Sqft $314
MLS Listing ID CL26815953
HOA Y/N No
Year Built 1964
Lot Size 0.268 Acres
Acres 0.2676
Property Sub-Type Other
Property Description
*** Property is 100% VACANT. 18611 Clark Street is an 8-unit multifamily apartment building in the heart of Tarzana, one of the San Fernando Valley's most established and consistently desirable rental submarkets. Situated just north of Ventura Boulevard, Tarzana's primary retail and dining corridor, with immediate access to the 101 Freeway and the broader Ventura spine, the property sits within a City of LA rent-stabilized submarket defined by limited developable land, strong owner-occupant demand, and a persistent undersupply of quality rental housing. The property is a mid-century 1964-vintage building comprising approximately 7,960 square feet of improvements on an 11,651-square-foot LAR3 lot, with a family-friendly unit mix of six 2BR/2BA units, one 3BR/2BA unit, and one 3BR/2BA + Den unit, a large-unit configuration that appeals directly to the long-tenure family renters who anchor demand in the Tarzana submarket. The building has already completed its mandatory soft-story seismic retrofit (September 2020). Most importantly, the property is being delivered 100% vacant, an exceptionally rare offering in a City of LA RSO submarket, allowing an incoming owner to renovate, reposition, and lease all eight units at market rents from day one, free of the rent-roll drag and tenant-in-place constraints that typically weigh on rent-controlled Valley assets. 18611 Clark Street represents a compelling opportunity to acquire a value-add multifamily asset in one of the San Fernando Valley's most supply-constrained rental corridors.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 2160005012
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Listed by Michael Monempour • Lyon Stahl Investment Real Estate, Inc.
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