Property Detail
Description
14857 Hartsook Street is a classic 1960 garden-style apartment building located on a prominent corner lot in prime Sherman Oaks, one of the San Fernando Valley's most sought-after rental submarkets. Comprising six units across approximately 5,958 square feet on a 6,075-square-foot parcel, the property represents a low-maintenance, value-add opportunity with meaningful income growth potential through both traditional renovations and strategic property enhancements. The site's corner positioning, visibility, and location within a strong infill market support stable occupancy and long-term investor appeal. The asset features a highly functional and balanced unit mix consisting of three two-bedroom, one-and-a-half-bath units averaging roughly 991 square feet each and two one-bedroom, one-bath units ranging from approximately 694 to 773 square feet. These larger floor plans cater to family-oriented and long-term tenants, driving lower turnover and strong retention while allowing for substantial rent growth upon natural vacancy. Current in-place rents are estimated to trail neighborhood market levels by approximately 36%, offering a clear value creation pathway through market-standard interior upgrades such as flooring, finishes, appliance packages, and bath refresheswithout requiring a heavy repositioning effort. In addition to standard renovation potential, the property offers a compelling long-term upside through the possible conversion of existing garage spaces into one or two Accessory Dwelling Units (ADUs), subject to City of Los Angeles review and permitting. This potential ADU addition provides an opportunity to unlock new revenue streams and further enhance yield while preserving operational simplicity. The combination of under-market rents and physical adaptability makes Hartsook an ideal candidate for investors seeking multiple levers of growth.In addition to standard renovation potential, the property offers a compelling long-term upside through the possible conversion of existing garage spaces into one or two Accessory Dwelling Units (ADUs), subject to City of Los Angeles review and permitting. This potential ADU addition provides an opportunity to unlock new revenue streams and further enhance yield while preserving operational simplicity. The combination of under-market rents and physical adaptability makes Hartsook an ideal candidate for investors seeking multiple levers of growth. Operational risk is mitigated by a series of major capital improvements completed over the past two decades, significantly reducing near-term capital expenditure requirements. Key system upgrades include a Class A/B roof replacement completed in 2016 and a full soft-story seismic retrofit finalized in 2019 with a Certificate of Compliance issued by the City of Los Angeles. Additional recorded work includes a full plumbing re-pipe in 2004, installation of earthquake gas shut-off valves in 2003, wall heater replacements, kitchen hood duct upgrades, and minor garage repairs. These improvements address the most critical building systems for vintage multifamily assets and enhance lender confidence while supporting a turnkey value-add execution. Zoned [Q]RD1.5-1-RIO (Low Medium II Residential), the property lies within the Los Angeles River Implementation Overlay and is mapped along a High-Quality Transit Corridor, reinforcing long-term accessibility and planning strength. While located within a Liquefaction Zone, the parcel sits outside the FEMA Flood Zone per ZIMAS. The property is subject to the Los Angeles Rent Stabilization Ordinance (RSO). In sum, 14857 Hartsook Street offers investors a corner-lot Sherman Oaks multifamily asset with a proven physical plant, spacious and balanced unit mix, and approximately 36% achievable rent upside, complemented by the potential for ADU conversion and supported by extensive completed capital workall within one of the San Fernando Valley's most stable and supply-constrained neighborhoods.
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Listing provided courtesy of Filip Niculete of Marcus & Millichap. Last updated 2025-12-16 09:11:19.000000. Listing information © 2025 CRMLS.
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CA DRE# 01794748
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