For Sale
$1,950,000

14623 Calvert StLos Angeles, CA 91411

9-Unit Apartment Building, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This 9-unit apartment building in Van Nuys, CA, presents a compelling value-add investment opportunity. Located at 14623 Calvert St, 91411, this two-story, 6,644 square foot building sits on a 7,502 square foot lot and boasts 100% occupancy. Built in 1964, the property features 12 parking spaces and is zoned LAR3. Recent improvements include a completed earthquake retrofit, a new roof (2019), new rain gutters (2023), and new electrical panels (2024). The current NOI is $98,222, yielding a 5.04% cap rate, with a pro-forma cap rate of 8.53%, indicating significant upside potential. Each unit is individually metered for utilities, with the owner only responsible for common area electricity. The asking price is $1,950,000 ($216,667 per unit and $293.50 per square foot). The property is located in a Qualified Opportunity Zone, making it eligible for federal tax incentives. Further potential exists for adding up to three additional dwelling units (ADU's), subject to buyer verification. This property offers a rare combination of strong current performance and substantial future growth potential.

Highlights

  • Seismic retrofit completed.
  • Significant rental upside potential exceeding 44%.
  • Qualified Opportunity Zone (QOZ) offering federal tax benefits.
  • Individually metered utilities; owner responsible only for common area electricity.
  • Potential for three (3) Accessory Dwelling Units (ADUs) – buyer to verify.

Property Details for 14623 Calvert St

Property type
Apartment buildings
Square Feet
6,644 SF
Year Built
1964
Stories
2
Units
9

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1819733
Longitude
-118.4517959
14623 Calvert St, Los Angeles, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
14623 Calvert St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message