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$3,499,000
Est. payment /mo
26 Beds
24 Baths
12,568 SqFt
UPDATED:
09/30/2024 06:50 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,568 sqft
Price per Sqft $278
MLS Listing ID 24345901
Bedrooms 26
HOA Y/N No
Year Built 1963
Lot Size 0.320 Acres
Property Description
Featuring spacious floorplans and a unit mix that contains nearly all two- and three-bedroom apartments, the property spans 12,568 gross square feet. The building occupies a corner lot near the intersection of Sherman Way and Haskell Avenue. The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms. The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.
Location
State CA
County Los Angeles
Area Lkbl - Lake Balboa
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 16
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2206028013
Special Listing Condition Standard
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935