14375 Polk St, Sylmar, CA 91342
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14375 Polk St Sylmar, CA 91342

$4,380,000
  • 33 Beds
  • 26 Baths
  • 15,848 Sq.Ft.
For Sale
$4,380,000 Get Pre-Qualified

Map preview of 14375 Polk St, Sylmar, CA 91342

Property Overview: 14375 Polk St Sylmar, CA has 33 bedrooms, 26 bathrooms, 15,848 living square feet and 19,804 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Filip Niculete | BRE #01905352 | Marcus & Millichap
Co-listed by Glen Scher | BRE #01962976 | Marcus & Millichap
Last checked: 12 minutes ago | Last updated: May 23rd, 2024 | Source CRMLS | DOM: 51
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Home details

Lot Sq. Ft
19,804
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24384961
City
Sylmar
County
Los Angeles
Time on Site
51 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 23
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 13
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,288
  • Total Rent: $16,744
  • Pro Forma/Market Rent: $21,450
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,491
  • Total Rent: $10,434
  • Pro Forma/Market Rent: $13,965
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,658
  • Total Rent: $4,975
  • Pro Forma/Market Rent: $6,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.73%
  • Gross Rent Multiplier: 11.35
  • Gross Scheduled Income: --
  • Net Operating Income: $207,174
  • Gross Operating Income: $374,257
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 14375 Polk St

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Covered
Property Information
  • Total # of Units: 23
  • Parcel Number: 2504015010
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Polk & Borden
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Sale History for 14375 Polk St

Last sold for $3,000,000 on December 30th, 2015
  • April, 2024

  • Apr 26, 2024

    Date

    Active

    CRMLS: 24384961

    $4,580,000

    Price

  • December, 2015

  • Dec 30, 2015

    Date

    Sold (Public Records)

    Public Records

    $3,000,000

    Price

  • December, 1994

  • Dec 2, 1994

    Date

    Sold (Public Records)

    Public Records

    $109,000

    Price

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Tax History for 14375 Polk St

Assessed Value (2020): $3,256,544
Year Land Value Improved Value Assessed Value
2020 $1,298,917 $1,957,627 $3,256,544

Home Value Compared to the Market

This property vs the competition

14375 Polk St is listed 461.54% higher than the median list price for the city of Sylmar which has a median list price of $780,000. The median price per/sqft for Sylmar is $490 and this home is listed at $276.38 per/sqft which puts the price per square foot 43.6% lower than the median price per square foot for the city of Sylmar.

About 14375 Polk St

Detailed summary of property

14375 Polk St is a multi family located in Sylmar, CA 91342 and is currently for sale. This multi family property offers 33 bedrooms, 26 bathrooms, roughly 15,848 living square feet, and sits on an approximately 19,804 square foot lot. 14375 Polk St was first listed on ArdentRealEstateGroup.com on April 26, 2024. The homeowner is currently asking $4,380,000 and was originally asking $4,580,000. The median priced home in Sylmar is $780,000 with a median price per square foot of $490. Based on Ardent Real Estate Group's Sylmar Market Data, this home is listed 461.54% higher than the median priced home. Local competing homes currently for sale include 5314 Loma Linda Ave, 1527 Veteran Ave and 11712 Kiowa Ave. While the average home in Sylmar, CA is selling in 76 days, 14375 Polk St has a days on market of 51 days. There are currently 111 homes for sale in the Sylmar real estate market and 75 of them are single family homes while 14 of them are condos and 22 are townhomes. For more information on this home for sale at 14375 Polk St Sylmar, CA 91342 contact Ardent Real Estate Group and we will put you in touch with one of our Sylmar agents.

Public Facts for 14375 Polk St

Public county record property details
Beds
--
Baths
--
Year built
1964
Sq. Ft.
15,848
Lot Size
19,797
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
2504-015-010

The source for these homes facts are from public records.

91342 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,900
Median List Price/Sq.Ft.
$478
Median Sold Price
$760,000
Median Sold Price/Sq.Ft.
$540
Total Inventory
125
Median Sale to List Price %
107.19%
Avg Days on Market
23
Loan Type
Conventional (55.1%), FHA (16.33%), VA (0%), Cash (0%), Other (20.41%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.