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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 6,250,000

Est. payment -/mo

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Price Dropped by $250K

14921 Sherman WAY Van Nuys, CA 91405

50 Beds

50 Baths

26,760 SqFt

UPDATED:

09/30/2024 05:39 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 26,760 sqft

Price per Sqft $233

MLS Listing ID 24350843

Bedrooms 50

HOA Y/N No

Year Built 1964

Lot Size 0.680 Acres

Property Description

This 32-unit two-story garden style complex has gated entry, a pool, laundry room and landscaped courtyard. The parking is also gated and has 24 tuck under spaces, 9 carport spaces and one open space for a total of 34 cars. The City of Los Angeles mandatory seismic retrofit work has already been completed by the owner. Other capital improvements include repaving the driveway and putting on a new roof about 10 years ago.The building is separately metered for both gas and electricity and the majority of the units have a private patio or balcony. The unit mix is excellent of 56% two bedrooms, two baths units averaging $1.59 psf and 44% one bedroom units averaging $1.34 psf. Both unit types are currently renting significantly below the current market of at least 50%.This well-maintained complex offers an investor stable cash flow with upside that will appreciate in value over time. The property is also located in an Opportunity Zone, which offers an investor the potential to defer and eliminate capital gains if they substantially improve the asset per the existing OZ laws. *Located in Opportunity Zone *Very well maintained *Great Mix of 1 & 2 Bedrooms with Balconies / Private Patios *Gated Parking & Entry *Pool, Laundry and Landscaped Courtyard

Location

State CA

County Los Angeles

Zoning LAR3

Rooms

Ensuite Laundry Laundry Room

Interior

Laundry Location Laundry Room

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Laundry Room

Exterior

Garage Gated

Carport Spaces 9

Pool Community, In Ground

Community Features Pool

Parking Type Gated

Total Parking Spaces 34

Private Pool No

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2221021018

Special Listing Condition Standard

Listed by David Kaufman • David Ballin Kaufman

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

14921 Sherman WAY Van Nuys, CA 91405

Key Details

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Rooms

Interior

Exterior

Building

Others

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14921 Sherman WAY