14375 Polk Street, Sylmar
Sylmar Home For Sale
We are proud to present 14375 Polk St., a 23-unit apartment building located in Sylmar. Built in 1964, the subject property sits on a 19,797 square foot lot and offers a mix of unit types, including 13 one-bedroom/one-bathroom units, 7 two-bedroom/one-bathroom units, and 3 two-bedroom/two-bathroom units, totaling 15,848 square feet. Recent capital improvements made to the property include seismic retrofit work, a repaired roof, and interior renovations to select units that include new counter-tops, cabinets, and sinks in the kitchen, new vinyl / carpet, and flooring, along with re-glazed bathtubs and new tile.The 23 apartment units bring in a combined $32,153 of rent per month, or $385,832 per year. A recent rent survey suggests full market-rent potential at $41,715 per month, or $500,580 per year, presenting an investor with approximately 30% upside potential. The property is secured by a gated, on-grade parking lot as well as a gated front entryway to the courtyard. Tenants enjoy on-site laundry, which creates $3,000 of additional income to the owner annually.The property is also being offered with an attractive assumable loan from Chase Bank with a $1,950,000 assumable balance at a 3.73% interest rate fixed through May 2027.Sylmar, located approximately 25 miles northwest of Downtown Los Angeles, is a picturesque neighborhood renowned for its cultural diversity, stunning mountain vistas, and historic olive trees. Residents enjoy easy access to amenities such as the Nethercutt Museum and Los Angeles Mission College. Outdoor enthusiasts appreciate the abundance of recreational options, including nearby parks like Veterans Memorial Community Regional Park and Hansen Dam Recreation Area. With convenient access to major freeways (5, 210, and 405) and public transportation options like Metrolink's Antelope Valley Line and the Van Nuys Station, commuting from Sylmar is hassle-free. Additionally, the property's proximity to Bob Hope Airport (10.2 miles) and Los Angeles International Airport (29.7 miles) further enhances its appeal.Another one of the property's key highlights is its proximity to several educational institutions and recreational facilities. The subject property is located just steps from Sylmar Elementary, Olive Vista Middle School, Sylmar High, and Sylmar Park, making it an ideal home for families with kids of all ages.
Property Details
Additional Information
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- City:
- Sylmar
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- County:
- Los Angeles
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- Zip:
- 91342
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- MLS® #:
- 24384961
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- Bedrooms:
- 5
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- Bathrooms:
- 4
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- Square Ft:
- 15,848
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- Lot Size:
- 0.45
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- Levels:
- Two
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- HOA Dues:
- $
Price Change History for 14375 Polk Street, Sylmar, (MLS® #24384961)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $4,580,000) | $4,380,000 | $200,000 (4.37%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 1st, 2024 at 2:50pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.