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Multifamily

14108, 14129-14133 Gilmore

14108 Gilmore St, Van Nuys, CA 91401

Listing Price: $3,700,000

Cap Rate
3.62%
Number of Units
18
Price/Unit
$205,556
Price/Gross SF
$316.56
Gross SF
11,688

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale 14129-14133 Gilmore and 14108 Gilmore (the “Property” or “Properties”), an 18-unit value-add multifamily community spread over three parcels in Van Nuys, just north of the Sherman Oaks border. The Properties are a short drive to Ventura Boulevard (the main artery of San Fernando Valley) giving residents accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Investment Highlights

  • Compelling Value-Add Opportunity: Investors can capture 75% ($741) upside in rental income by renovating the 9 non-renovated units and can effectuate 14% ($219) in loss-to-lease on renovated units.
  • Detached Carports Ideal For ADU Conversion: The revenue stream of 14129-14133 Gilmore can be enhanced through adding Accessory Dwelling Units (ADU).
  • Rising Home Value Cost Spurs Rental Demand: Van Nuys' median price for a single-family residence has grown to $870K.
  • Strong Demand Drivers: The Property affords tenants with a lower cost neighborhood while remaining within a 15- to 20-minute drive of prominent job centers such as Burbank, Warner Center, and Sherman Oaks.
  • Strong Rental Growth Projection: In the Van Nuys submarket, market rents are projected to grow 4.5% over the next 12 months while average occupancy remains above 97.5%.

Exclusively Listed By

Multifamily

14108, 14129-14133 Gilmore

Listing Price: $3,700,000

Cap Rate
3.62%
Number of Units
18
Price/Unit
$205,556
Price/Gross SF
$316.56
Gross SF
11,688

Investment Highlights

  • Compelling Value-Add Opportunity: Investors can capture 75% ($741) upside in rental income by renovating the 9 non-renovated units and can effectuate 14% ($219) in loss-to-lease on renovated units.
  • Detached Carports Ideal For ADU Conversion: The revenue stream of 14129-14133 Gilmore can be enhanced through adding Accessory Dwelling Units (ADU).
  • Rising Home Value Cost Spurs Rental Demand: Van Nuys' median price for a single-family residence has grown to $870K.
  • Strong Demand Drivers: The Property affords tenants with a lower cost neighborhood while remaining within a 15- to 20-minute drive of prominent job centers such as Burbank, Warner Center, and Sherman Oaks.
  • Strong Rental Growth Projection: In the Van Nuys submarket, market rents are projected to grow 4.5% over the next 12 months while average occupancy remains above 97.5%.

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale 14129-14133 Gilmore and 14108 Gilmore (the “Property” or “Properties”), an 18-unit value-add multifamily community spread over three parcels in Van Nuys, just north of the Sherman Oaks border. The Properties are a short drive to Ventura Boulevard (the main artery of San Fernando Valley) giving residents accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Exclusively Listed By

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