5938 Buffalo Avenue
About This Property
* .189 acres; 8,519.6 sq.ft.
* Project is a TOC3 entitled project located directly adjacent to the Orange Line Metro station
* Project is located directly across the street from the Studio City DASH (which drops off at Valley College)
* Project is located less than a half a mile from Valley College
* Project is located adjacent to a market, bakery, pizza, dry cleaners and other neighborhood services
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 26, 2025 | Sold | ||
| Sold | |||
| Jun 25, 2025 | In contract | - | |
| In contract | |||
| Feb 13, 2025 | Listed | $1,600,000 | |
| Listed | |||
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Fantastic location to build an entitled 5 story on grade apartment project consisting of a total of 22 units (18 apartments and 4 ADUs and including 2 very low income units) in Sherman Oaks. The entitled site currently has a 2,040 sq.ft. industrial/light manufacturing building on it with a month to month tenant. The plans consist of 6 one bedroom/one bath units, 10 one bedroom plus den/two bath units, 2 two bedroom plus den/2 bath units and 4 ADUS which can be made into three bedroom/2.5 bath units, and 150 square feet of commercial space. The project parks 8 stalls. * .189 acres; 8,519.6 sq.ft. * Project is a TOC3 entitled project located directly adjacent to the Orange Line Metro station * Project is located directly across the street from the Studio City DASH (which drops off at Valley College) * Project is located less than a half a mile from Valley College * Project is located adjacent to a market, bakery, pizza, dry cleaners and other neighborhood services
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| Jan 13, 2025 | Listed by Century 21 Masters | $1,600,000 | |
| Listed by Century 21 Masters | |||
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About South Valley
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017