16129 Cantlay StLos Angeles, CA 91406

Property Details for 16129 Cantlay St

Year built

1966

Property size (Sq ft)

5,460 SF

Property type

Apartment buildings

Description

This 6-unit apartment building in Los Angeles, CA, presents a compelling investment opportunity. Located at 16129 Cantlay St, in the desirable Van Nuys neighborhood (zip code 91406), this property boasts a total of 5,460 rentable square feet on a 6,000 square foot lot. Built in 1966, the two-story building features a mix of unit sizes: two 1-bedroom/1-bathroom, two 2-bedroom/1-bathroom, and two 3-bedroom/2-bathroom units. The property benefits from its convenient location, offering easy access to the 405, 101, and 170 freeways, as well as Ventura Boulevard's vibrant shopping and dining scene. Public transportation is readily available via the Metro Link, providing convenient access to Sherman Oaks, Woodland Hills, Burbank, Hollywood, and Downtown Los Angeles. The property's current NOI is $65,348, yielding a 4.36% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $121,627, resulting in an 8.11% pro-forma cap rate, indicating substantial upside potential. A completed seismic retrofit enhances the property's value and long-term stability. The property is zoned LAMR1. The asking price is $1,500,000. This is an exceptional opportunity for investors seeking strong returns in a prime Los Angeles location.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.2024

Longitude

-118.485

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