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$ 1,400,000
Est. payment | /mo
8 Beds
6 Baths
4,223 SqFt
$ 1,400,000
Est. payment | /mo
8 Beds
6 Baths
4,223 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,223 sqft
Price per Sqft $331
MLS Listing ID 25502609
Bedrooms 8
HOA Y/N No
Year Built 1957
Lot Size 6,403 Sqft
Property Description
An opportunity to acquire 14737 Vanowen Street, a 6- unit value-add opportunity located in the Van Nuys Submarket of the San Fernando Valley. 14737 Vanowen was built in 1957, is subject to Los Angeles Rent Control ("RSO") and offers resilient in-place cash flow with upside potential with additional capital outlay. Current rents are approximately 18% below market providing a buyer the opportunity to achieve market rents through strategic interior and faade enhancements. The property has been under the same ownership for the past 20+ years and has been well maintained. Ownership has made necessary upgrades to buildings systems over the years and modestly upgraded units upon turnover. Thus, leaving cosmetic upgrades for a subsequent buyer to upgrade the building to the taste of the modern-day renter. 14737 Vanowen features a unique unit mix and is comprised of (4) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. The building is situated on a 6,401 square foot parcel and is comprised of a (1) two-story walk-up building with a detached carport structure in the rear of the property. Additional community amenities included one shared laundry facility with (1washers/1 dryers).
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating None
Fireplace No
Exterior
Parking Features Detached Carport
Attached Garage No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2219020009
Special Listing Condition Standard
Listed by Elliot Hassan • NorthMarq Realty Services, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
24251 Town Center Dr Suite 201, Valencia, California, 91355, United States