6500 Shirley Ave, Reseda, CA 91335

16 units in quiet Reseda neighborhood. Twin 8 - unit buildings that are separately deeded. Huge lot - 22,859 sq. ft. with beautiful courtyard. Excellent unit mix - 8 - 1 bedroom + 1 bath and 8 - 2 bedroom + 1 bath units. The buildings were built in 1958 and there is 11,754 sq. ft. of building. Long term owner. The rents are significantly below market with over 50% upside in the rents. Onsite laundry. Individually metered for gas and electricity. New electrical panels. Because the buildings are on separately deeded parcels, an onsite manager is not required although there is one. The CAP rate increases to 4.97% without an onsite manager. There is an excellent assumable loan with Chase. The current loan balance is $1,077,393, 3.25% fixed until 02/2029. The current monthly payment is $4,942.42. The Seller has given the tenants a rent increase effective 3/1/25. The rents stated in marketing information reflect the 3/1/25 rent increase. The property is centrally located in the San Fernando Valley with easy freeway access. Close to California State University, Northridge, Pierce Junior College, Warner Center and the Topanga Plaza Shopping Mall.