Multifamily

14837 Erwin St

14837 Erwin St, Van Nuys, CA 91411

Listing Price: $2,000,000

Cap Rate
5.17%
Number of Units
8
GRM
12.53
Occupancy
97.0%
Price/Unit
$250,000
Price/Gross SF
$370.30
Gross SF
5,401

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a much sought-after 8-unit apartment building consisting of all 1-bedroom/1-bath units, located in the Van Nuys submarket of San Fernando Valley on Erwin Street.

The subject property was built in 1989 and features large units with balconies, 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, with 100% rent payments at the onset of each month.

Van Nuys is a much-desired location of San Fernando Valley with ample public transit access to major employment centers of Hollywood, Burbank, Downtown Los Angeles and Westside employment centers. Business, dining, and shopping establishments in the proximity of the property further enhance demand for rental units in this neighborhood.

This asset offers an investor the unique opportunity of acquiring a well-located investment with strong in-place rents and significant upside in coming years.

Investment Highlights

  • Highly sought-after all 1-Bed/1-Bath units
  • Built in 1989 and subject to State Rent Control of 5% increase plus CPI increase
  • No seismic Retrofit required
  • Property is located a few doors away from Kester Avenue
  • 6 out of 8 units fully remodeled with the highest quality appliances & craftsmanship
  • Ample enclosed and gated parking spaces

Exclusively Listed By

Listing Price: $2,000,000

Cap Rate
5.17%
Number of Units
8
GRM
12.53
Occupancy
97.0%
Price/Unit
$250,000
Price/Gross SF
$370.30
Gross SF
5,401

Investment Highlights

  • Highly sought-after all 1-Bed/1-Bath units
  • Built in 1989 and subject to State Rent Control of 5% increase plus CPI increase
  • No seismic Retrofit required
  • Property is located a few doors away from Kester Avenue
  • 6 out of 8 units fully remodeled with the highest quality appliances & craftsmanship
  • Ample enclosed and gated parking spaces

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a much sought-after 8-unit apartment building consisting of all 1-bedroom/1-bath units, located in the Van Nuys submarket of San Fernando Valley on Erwin Street.

The subject property was built in 1989 and features large units with balconies, 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, with 100% rent payments at the onset of each month.

Van Nuys is a much-desired location of San Fernando Valley with ample public transit access to major employment centers of Hollywood, Burbank, Downtown Los Angeles and Westside employment centers. Business, dining, and shopping establishments in the proximity of the property further enhance demand for rental units in this neighborhood.

This 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

MM Texture Background
MM Textured Background Lower