14623 Calvert St Los Angeles, CA 91411

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.