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Multifamily

7454 Haskell Ave

7454 Haskell Ave, Van Nuys, CA 91406

Listing Price: $3,499,000

Cap Rate
5.28%
Number of Units
13
GRM
11.93
Price/Unit
$269,154
Price/Gross SF
$278.41
Gross SF
12,568

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 7454 Haskell Avenue, a 13-unit multifamily property located in the Lake Balboa neighborhood of Van Nuys, CA. Featuring spacious floorplans and a unit mix that contains nearly all two- and three-bedroom apartments, the property spans 12,568 gross square feet. The building occupies a corner lot near the intersection of Sherman Way and Haskell Avenue.

The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms.

The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.

Investment Highlights

  • Excellent Unit Mix – Nearly 85% of Units Contain Two or Three Bedrooms
  • Attractively Priced at an 11.76 GRM and 5.28% CAP Rate Based on In-Place Income
  • Spacious Floorplans – 12,568 Square Feet Spread Over 13 Units
  • Potential to Both Add ADUs and Avoid Seismic Retrofit Costs (Buyer to Verify)
  • Full Copper Plumbing, Almost All New Windows
  • All Unit Interiors Renovated with Decorative Tile Flooring, Granite Countertops, Updated Bathrooms
  • Main Electric Panel Recently Upgraded with 60 Amp Breakers
  • Convenient Access to 405 Freeway and Metro Orange Line Busway

Exclusively Listed By

Financing By

Multifamily

7454 Haskell Ave

Listing Price: $3,499,000

Cap Rate
5.28%
Number of Units
13
GRM
11.93
Price/Unit
$269,154
Price/Gross SF
$278.41
Gross SF
12,568

Investment Highlights

  • Excellent Unit Mix – Nearly 85% of Units Contain Two or Three Bedrooms
  • Attractively Priced at an 11.76 GRM and 5.28% CAP Rate Based on In-Place Income
  • Spacious Floorplans – 12,568 Square Feet Spread Over 13 Units
  • Potential to Both Add ADUs and Avoid Seismic Retrofit Costs (Buyer to Verify)
  • Full Copper Plumbing, Almost All New Windows
  • All Unit Interiors Renovated with Decorative Tile Flooring, Granite Countertops, Updated Bathrooms
  • Main Electric Panel Recently Upgraded with 60 Amp Breakers
  • Convenient Access to 405 Freeway and Metro Orange Line Busway

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 7454 Haskell Avenue, a 13-unit multifamily property located in the Lake Balboa neighborhood of Van Nuys, CA. Featuring spacious floorplans and a unit mix that contains nearly all two- and three-bedroom apartments, the property spans 12,568 gross square feet. The building occupies a corner lot near the intersection of Sherman Way and Haskell Avenue. The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms. The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.

Exclusively Listed By

Financing By

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