14011 Sherman WayLos Angeles, CA 91405

Property Details for 14011 Sherman Way

Year built

1963

Property size (Sq ft)

9,328 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 13-unit apartment building in Van Nuys, CA, presents a compelling investment opportunity. The property, located at 14011 Sherman Way, boasts 9,328 square feet on a 12,366 square foot lot and features a mix of studio, one-bedroom, and two-bedroom units. Built in 1963, this two-story Class B building currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $151,127, with a projected NOI of $213,859. The asking price is $2,795,000, representing a price per square foot of $316.14 and a price per unit of $215,000. The property's current cap rate is 5.41%, with a pro-forma cap rate of 7.65%. Owner financing is available at 4.75% interest for five years. The property is zoned LAR3 and includes on-site parking and individually metered gas and electricity. Seismic retrofitting has been completed. This well-located building offers significant upside potential and is situated on a major thoroughfare, providing convenient access to local amenities, schools, parks, and transportation. The unit mix includes one studio, seven one-bedroom/one-bath, four two-bedroom/one-bath, and one two-bedroom/two-bath unit. Each unit features contemporary interiors with well-appointed kitchens and living areas. The property's APN is 2216-002-041. This is a rare opportunity to acquire a stabilized multifamily property with attractive financing terms in a desirable Los Angeles location.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.2013

Longitude

-118.438

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