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Rick Lee

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

$ 1,400,000

Est. payment -/mo

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Active

14248 Gilmore ST Van Nuys, CA 91401

9 Beds

7 Baths

4,931 SqFt

UPDATED:

09/30/2024 06:47 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,931 sqft

Price per Sqft $283

MLS Listing ID 24407107

Bedrooms 9

HOA Y/N No

Year Built 1960

Lot Size 7,501 Sqft

Property Description

We are pleased to present 14248 Gilmore St, a 2-story, 7-unit, true value-add multi-family investment opportunity with approximately 66%+ rental upside potential, located in the highly desirable Van Nuys submarket of Los Angeles, just east of Van Nuys Boulevard and north of Victory Boulevard. Built in 1960, the building is comprised of 1 (2+1), 5 (1+1), and 1 single units that average approximately 704 gross square feet. The 4,931 square foot structure is situated on a 7,500 square foot, LA[Q]RD1.5-1 zoned lot that includes 11 parking spaces. The property features spacious units with lots of natural light. Select units boast new flooring, fresh paint, wall AC units in living rooms, large mirrored closets in bedrooms, updated kitchens with new stoves, and dining areas are adjacent to the kitchens. The building is separately metered for gas & electric and provides tenants with assigned parking, on-site laundry, and included water and trash services. With a great WalkScore of 85, the property's central Van Nuys location offers residents easy access to countless shopping, dining, public parks, and recreation options in Van Nuys, Sherman Oaks, Lake Balboa, and Panorama City. The Sepulveda Recreation Area, which is home to Balboa Golf Course, Sepulveda Sports Complex, The Japanese Garden, and Lake Balboa, is 1.8 miles to the west. The 405 Freeway is 1.7 miles to the west of the property, and the 101 Freeway is 2.3 miles to the south. The 170 Freeway is only 2.4 miles to the east, the 5 Freeway 5.6 miles to the northeast, and the 118 Freeway can be accessed 7.2 miles to the north. The Metro G Line (Orange) Busway, which runs almost the length of the entire San Fernando Valley and connects to the Metro Red Line to Downtown Los Angeles, can be accessed at the Van Nuys Metro G Line (Orange) Station, only 0.7 miles to the south. The East San Fernando Valley Light Rail Transit Project, currently under development, will significantly enhance the connectivity and transportation options for residents. This 9.2-mile light rail project will improve connections and access to key destinations while reducing congestion and fostering economic growth along the route.14248 Gilmore St is well-positioned for a skilled value-add investor, with the building's front garages presenting a prime ADU conversion opportunity, and a higher-end renovation program would optimize market rents, appreciation, and future returns. The property's premium location near transportation, grocery stores, restaurants, and shops makes it an attractive investment in the vibrant Van Nuys neighborhood submarket.

Location

State CA

County Los Angeles

Zoning LARD1.5

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Garage Assigned, Carport, Door-Multi, Door-Single, Garage

Garage Spaces 3.0

Carport Spaces 2

Garage Description 3.0

Parking Type Assigned, Carport, Door-Multi, Door-Single, Garage

Total Parking Spaces 11

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2237020003

Special Listing Condition Standard

Listed by Matthew R. Kanner • Keller Williams Realty Los Feliz

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

14248 Gilmore ST Van Nuys, CA 91401

Key Details

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14248 Gilmore ST