For Sale
$945,000

14146 Friar StLos Angeles, CA 91401

Three-unit apartment building, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional three-unit apartment building in Van Nuys, CA, presents a compelling value-add investment opportunity. Located at 14146 Friar St, Los Angeles, CA 91401, this property boasts a total of 1,960 square feet across three buildings situated on a 6,498 square foot lot. Built in 1942, the property currently enjoys 100% occupancy. The asking price is $945,000, translating to $482.14 per square foot and $315,000 per unit. The pro-forma cap rate is 6.74%. Classified as a Class C multifamily investment, this property offers significant upside potential. Currently, rents are below market rate, presenting an immediate opportunity to increase cash flow. Furthermore, the existing freestanding garage at the rear of the property offers the potential for the addition of an Accessory Dwelling Unit (ADU), further enhancing the property's value and rental income. This property is an excellent choice for investors seeking a strong return on investment in a desirable Los Angeles location.

Highlights

  • Three-unit apartment building in Van Nuys, CA, offering a value-add investment opportunity.
  • Located at 14146 Friar St, Los Angeles, CA 91401, on a 6,498 sq ft lot; 1,960 total sq ft.
  • Built in 1942, currently 100% occupied.
  • Asking price: $945,000 ($482.14/sq ft, $315,000/unit); 6.74% pro-forma cap rate.
  • Class C multifamily property with below-market rents, offering immediate cash flow increase potential.
  • Potential for ADU addition in existing rear garage, further enhancing value and income.

Property Details for 14146 Friar St

Property type
Apartment buildings
Square Feet
1,960 SF
Class
C
Year Built
1942
Buildings
3
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.185688178479
Longitude
-118.4416177193
14146 Friar St, Los Angeles, California

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14146 Friar St
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