Daniel Hirth of The Hirth Group has been selected as the exclusive listing agent for the sale of 14306 Riverside Drive, Sherman Oaks, CA 91423, a 14- unit value-add opportunity.
The property is strategically positioned in a highly desirable location – directly on the corner of Riverside Drive and Tyrone Avenue – walking distance to the Westfield Fashion Square, Trader Joe’s and numerous shopping and dinning amenities. The 14,503 SF building is situated on an 11,705 SF lot comprised of a phenomenal unit mix of spacious four 1 bedroom / 1 bath, two 1-bedroom / 1 bath + den and eight 2 bedroom / 2 bath units; some 2 bedroom units feature dens.
The building has undergone extensive renovations including; four fully remodeled units, lobby, hallways, newly plastered pool, and new paint on the exterior/interior of the common areas. The remaining unrenovated units create the perfect repositioning opportunity for a savvy investor to add over 50% rental upside through interior upgrades and improvements. The property has also undergone the city ordinance tuck under parking retrofit and has received the certificate of compliance.
14306 Riverside Drive is located in the Sherman Oaks submarket, an affluent, primarily residential community in the San Fernando Valley. The neighborhood’s proximity to several major job hubs is among its attractions.
CA DRE 01515796