14317 Haynes StLos Angeles, CA 91401

This 7-unit apartment building in Van Nuys, CA, presents a compelling value-add opportunity. Built in 1964 and extensively renovated in 2020, the property boasts 6,009 square feet on a 0.17-acre lot. The building features a mix of one- and two-bedroom units, all with updated amenities including new copper plumbing, roof, water heaters, and laundry facilities (owner-owned). Select units feature stainless steel appliances, granite countertops, and updated bathrooms and kitchens. The property currently generates a NOI of $91,800, with a 5.11% cap rate. However, with approximately 48% upside in rental rates, a pro-forma NOI of $154,030 and an 8.58% cap rate is projected. The asking price is $1,795,000 ($256,428.57 per unit and $298.72 per square foot). Located at 14317 Haynes St, Los Angeles, CA 91401, this property benefits from a convenient location with a Walk Score of 82, offering easy access to major transportation arteries, shopping, and dining. The property includes gated parking and is in a smoke-free environment. Minor cosmetic upgrades, such as fresh paint and driveway refurbishment, remain to be completed. The property is zoned LAR3. This turnkey investment offers significant potential for increased profitability.