Multifamily
14121 Friar St
14121 Friar St, Van Nuys, CA 91401
Listing Price: $2,200,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a much sought-after 7-unit apartment building consisting of six 2-bedroom/2-bath and one 2-bedroom/2.5-bath townhouse units, located in the Van Nuys submarket of the San Fernando Valley on Friar Street. The subject property was built in 1998 and features large units with balconies and high ceilings, central heating and air-conditioning, copper plumbing, gated and secured entry, and a gated garage with ample parking for each unit. The property is very well maintained and enjoys strong rent collection from tenants, including two Section 8 leases with 100% rent payments at the onset of each month.
Van Nuys is a much-desired location of the San Fernando Valley with ample public transit access to major employment centers of Hollywood, Burbank, Downtown Los Angeles and the Westside. Business, dining, and shopping establishments in the proximity of the property further enhance demand for rental units in this neighborhood.
The asset offers an investor the unique opportunity of acquiring a well-located investment with strong in-place rents and significant upside in coming years.
14121 Friar St
Investment Highlights
- Highly sought-after mix of all 2-Bed/2-Bath units and a 2-Bed/2.5-Bath Townhouse
- Built in 1998 and subject to State Rent Control with rent increase of 8.8% in 2005 No seismic retrofit required
- Two units to be rented to Moderate and low income tenants. •Median Income: $106,600 for a four-person household in 2025 •Low Income: $84,850 for a single person, $121,150 for a four-person household
- Large and bright units spread over 6,526 square feet in 7 units
- All units feature balconies, central heating and air conditioning, high ceilings, and 2 parking spaces
- Gated and secured entry, copper plumbing, newer water heater, on-site laundry facilities owned by current management
- One of the best values in today's investment market with significant upside potential
- Laundry on-site
Exclusively Listed By
Financing By
Listing Price: $2,200,000
Investment Highlights
- Highly sought-after mix of all 2-Bed/2-Bath units and a 2-Bed/2.5-Bath Townhouse
- Built in 1998 and subject to State Rent Control with rent increase of 8.8% in 2005 No seismic retrofit required
- Two units to be rented to Moderate and low income tenants. •Median Income: $106,600 for a four-person household in 2025 •Low Income: $84,850 for a single person, $121,150 for a four-person household
- Large and bright units spread over 6,526 square feet in 7 units
- All units feature balconies, central heating and air conditioning, high ceilings, and 2 parking spaces
- Gated and secured entry, copper plumbing, newer water heater, on-site laundry facilities owned by current management
- One of the best values in today's investment market with significant upside potential
- Laundry on-site
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a much sought-after 7-unit apartment building consisting of six 2-bedroom/2-bath and one 2-bedroom/2.5-bath townhouse units, located in the Van Nuys submarket of the San Fernando Valley on Friar Street. The subject property was built in 1998 and features large units with balconies and high ceilings, central heating and air-conditioning, copper plumbing, gated and secured entry, and a gated garage with ample parking for each unit. The property is very well maintained and enjoys strong rent collection from tenants, including two Section 8 leases with 100% rent payments at the onset of each month. Van Nuys is a much-desired location of the San Fernando Valley with ample public transit access to major employment centers of Hollywood, Burbank, Downtown Los Angeles and the Westside. Business, dining, and shopping establishments in the proximity of the property further enhance demand for rental units in this neighborhood. The asset offers an investor the unique opportunity of acquiring a well-located investment with strong in-place rents and significant upside in coming years.
Exclusively Listed By
Financing By
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