7249 Baird Avenue, Reseda, CA 91335
List Price: $9.65M
Listing Status: Active
0Days on Market: 0
41 Bedrooms · 41 Bathrooms · 29,588 sq ft
Property Type: ResidentialIncome
Year Built: 1989
Lot Size: 25,500 sq ft
MLS Number: 26852325
About This Property
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.
Listing provided by: Kelly Morgan DRE #01898026 323-852-1372 Kelly@KellyMorganCommercial.com, Houze Real Estate Management
Source: CRMLS, MLS #: 26852325
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.