$10,450,000 - 14556 Magnolia Boulevard, Sherman Oaks

  • 1Beds
  • 2Baths
  • 39,198SQ. Feet
  • 0.57Acres

Sherman Oaks Home Sale

***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.

Sales Agent

Sam Smith
  • Sam Smith
  • San Clemente Realtor ®
  • Phone: 949-204-5110
  • Cell: 949-204-5110
  • Contact Agent Now

Amenities

  • ParkingCovered
  • GaragesCovered

Essential Information

  • MLS® #24427717
  • Price$10,450,000
  • Bedrooms1
  • Bathrooms2.00
  • Square Footage39,198
  • Acres0.57
  • Year Built1961
  • TypeResidential Income
  • StatusClosed
  • Listing AgentMatthew Ziegler
  • Listing OfficeMarcus & Millichap

Interior

  • HeatingWall Furnace
  • CoolingWall/Window Unit(s)
  • # of Stories3
  • StoriesThree Or More

Community Information

  • Address14556 Magnolia Boulevard
  • AreaSO - Sherman Oaks
  • CitySherman Oaks
  • CountyLos Angeles
  • Zip Code91403

Additional Information

  • Date ListedAugust 14th, 2024
  • Days on Market117
  • ZoningLAR3
  • Short SaleN
  • RE / Bank OwnedN

Price Change History for 14556 Magnolia Boulevard, Sherman Oaks, (MLS® #24427717)

Date Details Price Change
Closed
Active Under Contract (from Active)
Price Reduced $10,450,000 $500,000 (4.57%)
Price Reduced (from $11,500,000) $10,950,000 $550,000 (4.78%)

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  • City:
    Sherman Oaks
  • Price Range:
    $949,000 - $10,600,000
  • Current Listings:
    29
  • HOA Dues:
    $0
  • Average Price per Square Foot:
    $356

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Based on information from California Regional Multiple Listing Service, Inc. as of December 9th, 2025 at 11:55pm PST. 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.