***PRICE REDUCED ADDITIONAL $500,000*** We are pleased to present the Terraces at the Summit, a 50-unit value add apartment building located at 14556 Magnolia Boulevard in Sherman Oaks, California. Current rents are approximately 22% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. Built in 1961, the property features a favorable unit mix consisting of (17) studio/one-bathroom units and (33) one-bedroom/one-bathroom units. Units feature wood flooring, granite countertops, dishwasher, microwave and floor to ceiling living room windows (select units). Property amenities include secured access, pool, grill/picnic area, lounge, fitness center, laundry facility, elevator and gated subterranean parking. The 39,198 square foot building sits on a large 0.57 acre lot that is LAR3 zoned. The Terraces at the Summit is located in Sherman Oaks, one of the best rental submarkets in Los Angeles County with historically low vacancy rates. The property is in close proximity to grocery stores, restaurants and retail on Van Nuys Boulevard as well as vibrant cafes, fine dining, high-end chic retail and nightlife on nearby Ventura Boulevard. The property is conveniently located near the 405 and 101 freeways and just a short drive to major job centers such as Woodland Hills, Encino, North Hollywood, Burbank and Glendale.
Property Details
Property Features
Property Information:
Year Built: 1961
Stories: 3
Living Area: 39,198 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Matthew Ziegler
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 35
Exterior Features
Parking Information:
Parking: Covered
Lot Features
Lot Information:
Lot Size: 0.57 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: Wall/Window Unit(s)
Other
Directions Information:
Directions: On Magnolia Blvd in between Van Nuys Blvd and Kester Ave.
Price Information
Listing Price Info
Price Summary:
List Price: $10,450,000
Price Per SqFt: $267/SqFt
Tax Information:
Annual Amount: $121,903
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $9.4M more than the Median Sold Price and $374/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24427717
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Matthew Ziegler
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/22/2024, 7:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jan 25, 2008
Jan 25, 2008Home Sold
$8,139,000
Jun 02, 2005
Jun 02, 2005Home Sold
$5,975,050
May 06, 1998
May 06, 1998Home Sold
$1,980,000
Oct 21, 1988
Oct 21, 1988Home Sold
$2,220,500
Oct 21, 1988
Oct 21, 1988Home Sold
$895,182
Oct 21, 1988
Oct 21, 1988Home Sold
$918,000
Oct 21, 1988
Oct 21, 1988Home Sold
$629,500
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$121,903
$9,958,152
2020
$118,335
$9,774,959
2019
$117,802
$9,583,294
2018
$115,227
$9,395,387
2017
$115,227
$9,211,165
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
Kester Elementary / Magnet
5353 Kester Ave
Distance between this listing and this school0.49 miles
Public District Grades PK-5
7
/10
Chandler Learning Academy
14030 Weddington St
Distance between this listing and this school0.72 miles
Public District Grades KG-5
7
/10
Sherman Oaks Elementary Charter
14755 Greenleaf St
Distance between this listing and this school1.06 miles
Public Charter Grades KG-5
Nearby Schools
5
/10
High Tech la Middle School
5435 Vesper Ave Rm B50
Distance between this listing and this school0.33 miles
Public Charter Grades 6-8
5
/10
Van Nuys Middle School
5435 Vesper Ave
Distance between this listing and this school0.33 miles
Public District Grades 6-8
3
/10
Ivy Bound Academy of Math Science and Tech Charter Middle School
15355 Morrison St
Distance between this listing and this school1.05 miles
Public Charter Grades 5-8
Nearby Schools
2
/10
Will Rogers Continuation
14711 Gilmore St
Distance between this listing and this school1.62 miles
Public District Grades 9-12
7
/10
Van Nuys Senior High School
6535 Cedros Ave
Distance between this listing and this school1.74 miles
Public District Grades 9-12
6
/10
Champs - Charter High School of Arts-Multimedia & Performing
6842 Van Nuys Blvd
Distance between this listing and this school2.11 miles
The neighbors living near this home have an average income of $94,937. Most Los Angeles, CA residents have annual incomes between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 14556 Magnolia Blvd
What is the listing price of this property?
The listing price of 14556 Magnolia Blvd property is $10,450,000.
What type of property is this?
The property 14556 Magnolia Blvd is a house located in Sherman Oaks, California, 91403.
Is this property for sale now?
Active Listing: 14556 Magnolia Blvd is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $121,903 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on January 25, 2008 for $8,139,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 14556 Magnolia Blvd has 35 bedrooms and 50 bathrooms.
What is the square footage of this property?
The property 14556 Magnolia Blvd is 39,198 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 14556 Magnolia Blvd is 1961.
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This home is located at 14556 Magnolia Blvd in Sherman Oaks, CA and zip code 91403 in the The San Fernando Valley neighborhood. This 39,198 square foot home, which was built in 1961, sits on a 0.57 acre lot. Features: 35 bedrooms, 50 bathrooms. It has been listed on Rocket Homes since August 14, 2024 and is currently priced at $10,450,000.
In October 2024 more than 598 listings in Los Angeles, CA were sold above the asking price. During the same period more than 191 listings were sold at asking price, while more than 753 were sold below. The number of listings in Los Angeles, CA increased by 11.2% between September 2024 and October 2024. In October 2024, listings were on the market for 38 days. During the same period, the median list price in this real estate market was $1,023,474.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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