This 8 unit property is located in Van Nuys near the corner of Sherman Way and the 405 freeway.Built in 1986, this building is exempt from the LA Rent Stabilization Ordinance (RSO) and has an attractive unit mix of all 2 bedroom units. Additionally, there is an assumable loan at 4.55% interest only fixed until July 2027. Priced at a 5.58% CAP, which includes the two vacant units with Section 8 rents, there is approximately 33% in rental upside.The sellers have fully remodeled all of the units with new paint, flooring, countertops, and appliances. In addition, they've replaced 2 of the 8 HVAC condensers, painted the exterior of the building, installed artificial grass in the front, and installed security cameras throughout the building.
Mls | 24441479 |
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Listing Type | For Sale |
Subtype | Resale |
Status | Active |
Year | 1986 |
Days On Site | 83 |
Listing Provided By | Real Broker 619-663-8680 | Henry Garcia |
Beds | 16 |
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Baths | 12 |
Sq Feet | 6,224 |
Storys | 2 |
Units | 8 |
Buildings | 1 |
Zoning | LAR3 |
Acreage | 0.16 |
State | CA |
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County | Los Angeles |
City | Van Nuys |
Zip Code | 91406 |
Area | LKBL Lake Balboa |
Listing VS Median (in 91406) | |
Price: $2,600,000 low | high Med: $818,000 SqFt: 6,224 low | high Med: 1,634 $ / SqFt: $418 low | high Med: $520 On Site: 83 low | high Med: 73.500000 |