ASSUMABLE LOAN- 3.75% FIXED- $2,800,000 - VALID FOR 4 MORE YEARS UNTIL 6/1/2030; Marketing package attached under DOCS. Corner Lot measuring 23,586 square feet; Ideal unit mix of Fourteen (2+2) and Nine ( 1+1), and one (1) SIngle existing ADU almost complete; Bright units with private balconies or patios; Strong in-place rents with current cap rate of 7.72%; GIM equal to 8.7; Spacious Floorplans with average unit size of 908 square feet; Copper plumbing; Plans and permits for 2 additional attached ADU apartments which when completed will satisfy the Seismic Retrofit requirement (Buyer to Verify); On-Site Laundry Facilities; Ample parking spaces
Multi-familyProperty Type
1965Year Built
0.54 acresLot Size
$230Price/Sq.Ft.
24 spacesParking
Listed by Jeanette Monfared•DRE #00765098• Marcus & Millichap
Van Nuys, located between Sherman Oaks and Panorama City, is a residential and commercial Los Angeles neighborhood with a civic core and an aviation legacy. The energy concentrates around Van Nuys Boulevard near Victory Boulevard, where taquerias, auto shops, swap-meet storefronts, and late-night eateries set a steady street rhythm. The Japanese Garden at the Sepulveda Basin adds a quiet counterpoint of water and stone. Mid-century ranch homes and courtyard apartments line broad, sunlit blocks, while hangars and runways mark the edge of Van Nuys Airport. The Great Wall of Los Angeles turns a flood-control channel into an open-air gallery. The Sepulveda Basin’s paths and fields shape daily routines across the flat valley floor.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Built-in features
Bedrooms
Units include 2-bed, 1-bed and studio apartments (mix of 2-bed, 1-bed and 0-bed units)
Bathrooms
Units include 2-bath and 1-bath layouts
Kitchen
Typical apartment kitchens (appliances not individually listed)
Laundry & utility
No specific laundry details provided
Flooring
Flooring details not provided
Heating & cooling
Wall heat
Wall/window unit cooling
Exterior features
Landscaped lot with frontage dimensions approximately 130 x 182
Zoned LARD1.5
No additional exterior structures
Home design
Residential income property
Two total floors
Multi-level building
Parking
Carport
24 total parking spaces
25 open other parking spaces
Security
No specific security features listed
Construction
Construction details not provided
Year built not provided
Utilities
Utilities details not provided
HOA & community
24 units in the complex
Financial info
Gross income approximately 548,976
Gross operating income approximately 532,506
Net operating income approximately 370,330
Total annual expenses approximately 162,357
Cap rate about 7.72%
Gross rent multiplier about 8.7
Vacancy rate around 3%
Rent roll highlights: 14 units at 2-bed (market rent example $2,084), 9 units at 1-bed (market rent example $1,619), 1 studio (market rent example $1,500)
Other
One building on the lot
Electricity and solar
View estimated energy costs and solar savings for this home
Perform a soft-story seismic retrofit using wood shear walls in accordance with the building code. This work is part of a residential accessory dwelling unit conversion. A certificate of compliance will be issued upon completion of the accessory dwelling unit occupancy requirements.
ADU
Remodel
Aug 12, 2024 • Active
Bldg-alter/repair
Convert existing parking spaces and a recreation room into three attached accessory dwelling units.
ADU
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
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