Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 7203 Rubio Ave, a multifamily investment opportunity built in 2013 totaling 29 units plus a leased office space. Positioned on a corner lot at Sherman Way & Rubio Ave, the property is located in the Lake Balboa neighborhood of the San Fernando Valley. This represents the first time the property has been offered for sale since construction.

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The property features a well-balanced unit mix of nine onebedroom units (675–739 SF), ten two-bedroom units (932–1,184 SF), and ten three-bedroom units (1,140–1,295 SF). The on-site office space is occupied by an insurance firm with a lease term through May 31, 2027 – the space is approximately 1,200 SF and equipped with a kitchen and bathroom, ideal for a potential ADU conversion. Parking amenities include 53 gated ground-floor spaces, along with EV charging stations.

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Built in 2013, the property is not subject to the Los Angeles Rent Stabilization Ordinance.

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Units feature modern interior finishes, including recessed lighting, luxury vinyl plank flooring, quartz countertops, stainless steel appliances, wood cabinetry, and ample storage. Seventeen units feature private balconies and ample storage; some of the units have tile throughout the kitchen, living room, and bathroom areas. The property also offers common area space on the third and fourth floors, which can be further utilized and features panoramic views of the San Fernando Valley.

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The property is 100% occupied, providing strong inplace cash flow and proven rents. At the asking price, the property is being offered at $362,069 per unit and $320 PSF at a 5.58% CAP rate and 11.95 GIM on current income.

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The property features a secure intercom-controlled entry system and security cameras throughout. The asset has little to no deferred maintenance, and all utilities are separately metered, including water, minimizing landlord expense exposure.

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Residents benefit from convenient access to the 405 and 101 Freeways. The surrounding trade area offers a strong mix of retail, dining, and daily-needs services, anchored by major corridors along Sherman Way, Victory Boulevard, and Balboa Boulevard. The central location allows residents to commute efficiently throughout the Valley to nearby neighborhoods including Encino, Tarzana, Sherman Oaks, and Valley Village, among others.

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Opportunity to acquire a high-quality asset in a premier infill location in Los Angeles. Lake Balboa represents a stable, supply-constrained Valley submarket with enduring tenant demand, favorable demographics, and a strategic central location—making it an attractive environment for long-term residential investment.