Lucrum Real Estate Group is proud to present a rare investment opportunity: The Terraces on Moorpark, located in the highly coveted city of Sherman Oaks. The property, situated at 13718 Moorpark St., consists of 12 spacious units, including six (2+2.5) townhomes and six studio apartments.
This unique, value-added investment offers a highly attractive $224.43 price per square foot, an estimated ±27% rental upside potential, and the best in-place cap rate currently available for sale in Sherman Oaks at 5.12%, with a pro forma cap rate of 7.36%! Additionally, all units are eligible for annual rental increases of up to 8.8% under AB 1482, allowing investors to capitalize on a strong first-year cash-on-cash return by implementing a rent increase—without requiring any major capital expenditures.
Built in 1990, The Terraces on Moorpark features an Art Deco Revival style, 18 gated underground parking spaces, two full-size laundry rooms, spacious private yards and patios, central HVAC units, and balconies. The building is constructed with a wood-frame structure, a flat roof, and a painted stucco exterior, totaling ±14,704 square feet on a ±9,743 square foot lot.
Investment properties not subject to LARSO (Los Angeles Rent Stabilization Ordinance) rarely come to market in Sherman Oaks, and this particular asset has not changed ownership in 33 years. With tremendous value-add potential, this property presents an exceptional opportunity to elevate its appeal and pride of ownership. The units are individually metered for gas and electricity, while the owner covers water, trash, and landscaping expenses.
The Terraces on Moorpark is situated in the heart of Sherman Oaks, California, a highly desirable rental market. Located at 13718 Moorpark St., 91423, this expansive property sits at the corner of Moorpark St. and the tree-lined Mammoth Ave., just footsteps from Woodman Ave.
Offering sanctuary-style living in a dynamic area, The Terraces on Moorpark is surrounded by thriving commercial activity and a robust job market, particularly within the entertainment industry. The neighborhood blends urban energy with residential charm, making it an ideal location for young professionals and residents who enjoy a vibrant lifestyle—all while having a peaceful retreat to call home.
The surrounding area is characterized by a mix of multi-family residences and commercial properties, including a variety of shops and restaurants. With an 88 Walk Score, this location is highly walkable, allowing residents to easily explore the neighborhood on foot.
Within a short distance, residents have access to numerous amenities and services, including grocery stores, restaurants, cafés, and local boutiques—ensuring that daily essentials are always within reach. Just a few blocks away, the Sherman Oaks Mall hosts a weekly farmers market and offers diverse shopping and entertainment options for those seeking an engaging experience.
Sherman Oaks is strategically located for commuters, with easy access to major highways, including the 101 and 405 freeways, as well as public transportation options, ensuring seamless travel to neighboring cities and key attractions. Additionally, the area is home to several schools and educational institutions, making it an excellent choice for families with school-age children.
In general, Sherman Oaks is a vibrant, upscale neighborhood in the San Fernando Valley region of Los Angeles. It strikes a balance between suburban tranquility and city convenience, making it a desirable place to live. The area is known for its tree-lined streets, spacious homes, and a mix of modern apartments and classic mid-century houses.
Sherman Oaks has a lively yet relaxed atmosphere, with Ventura Boulevard serving as its main hub for shopping, dining, and entertainment. Here, you’ll find trendy cafes, high-end boutiques, and a variety of restaurants ranging from casual eateries to upscale dining spots. The neighborhood also boasts ample green space, including parks like Van Nuys/Sherman Oaks Recreation Center, which offers sports fields and playgrounds.
One of its key appeals is its proximity to both the city and the Valley, making it a popular choice for professionals and families who want a quieter lifestyle without being too far from Los Angeles’s action. While it’s more laid-back than bustling areas like Hollywood or Downtown LA, Sherman Oaks still has a lively social scene, especially at night with its bars and lounges.
Overall, Sherman Oaks is an ideal blend of urban sophistication and suburban comfort, making it a sought-after destination for those who want the best of both worlds in LA.
+ Excellent unit mix of 6 (2+2.5 townhome style) units and 6 (studios)
+ Central A/C & heat
+ ±27% rental upside potential
+ Attractive price per square foot
+ Spacious units with balconies
+ Maximum allowable annual rental increase of 8.8% per AB 1482
+ Fireplaces
+ Individually metered for gas & electric
+ 18 gated subterranean parking
+ Two laundry rooms
+ Value-add opportunity
+ Under same ownership for 30+ years
+ 88 Walk Score
+ Strong rental demand area
+ Nearby access to 405 & 101 Fwys
+ Proximity to shops & restaurants
+ Stroll to the ever-vibrant Ventura Blvd.
+ Corner lot property
Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.
