8204 Langdon AveLos Angeles, CA 91406

This exceptional 34-unit apartment building presents a compelling value-add opportunity in the heart of Van Nuys, CA. The property, situated on a ±34,249 square foot lot, boasts a total of ±19,938 gross square feet and features 32 one-bedroom/one-bath units and 2 two-bedroom/one-bath units. Constructed in 1977, the building is classified as Class C and benefits from a permitted LAR3 zoning designation. Significant capital expenditures have already been undertaken, with fourteen units recently renovated to include stainless steel appliances, granite countertops, updated bathrooms, and new vinyl flooring. Currently, rents are approximately 24% below market rates, offering substantial upside potential for the buyer. The property includes 38 parking spaces. The asking price is $6,200,000, representing a price per square foot of $310.96 and a price per unit of $182,352.94. The current cap rate stands at 4.88%. The property's strong location offers convenient access to major transportation routes and is within a vibrant commercial hub, boasting a Walk Score of 82. Seller financing is available at 4.5% interest only, fixed for 3 years, at 50% LTV. This presents a unique opportunity for investors seeking a strong return in a desirable Los Angeles market. The property's robust location, coupled with the value-add potential, makes this an attractive investment prospect. The APN is 2654-036-021. This fee simple ownership opportunity is located at 8204 Langdon Ave, Los Angeles, CA 91406.