$6,000,000
Est. payment /mo
50 BD
50 BA
26,760 SqFt
Price Dropped by $250K
14921 Sherman WAY Van Nuys, CA 91405
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UPDATED:
12/10/2024 04:04 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 26,760 sqft
Price per Sqft $224
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
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Gated
Carport Spaces 9
Pool Community, In Ground
Community Features Pool
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