15114 Magnolia Blvd is a triplex located in an exceptional Sherman Oaks location that is zoned R3. Priced at an unbeatable $950,000 & price/SF of $349.39, this is the best value you’ll find in Sherman Oaks. The average price/SF of 2-4 unit properties in the area is $427.23, so this triplex is going to go fast. The property consists of a freestanding house (2b/1b) which has its own private, enormous backyard & patio, & a 2 unit building (1b/1b and 3b/1b). These 3 spacious units are located on a 6,253 SF lot minutes from the countless Sherman Oaks neighborhood hotspots. 15114 Magnolia presents buyers numerous routes to profit: 1. Build! A 6,253 square foot R3 lot for $950,000 is hard to find! Two lots of the same size on Magnolia a few blocks down sold in 2016 for a much higher price. 14822 Magnolia sold for $1,050,000 and 14816 Magnolia sold for $1,000,000. Snap this up for $950,000 and move forward with a profitable development project. 2. Buy and hold! 15114 Magnolia’s rents are significantly under market and there is massive upside. The pro forma cap rate is 5.79%. 3. Live and rent! The freestanding house at the rear of the property would be an excellent owner-occupied dwelling. Enjoy your privacy while ensuring steady income from the front two units. Other features include: a 2014 installed roof, new hot water heaters, hardwood flooring, drought-resistant landscaping, a wood-burning fireplace and a backyard with outdoor fireplace.