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Multifamily

6711 Haskell Avenue

6711 Haskell Ave, Los Angeles, CA 91406

Listing Price: $3,400,000

Cap Rate
4.31%
Number of Units
15
Price/Unit
$226,667
Price/Gross SF
$309.37
Gross SF
10,990

Investment Overview

A 10,990 SF, 15-unit value-add investment opportunity in Lake Balboa, Van Nuys. The subject property is just west of the 405 Freeway and is less than 1 mile from Valley Presbyterian Hospital. This ideal location is walking distance to many desirable destinations such as Woodley Park, 99 Ranch Market, Zankou Chicken, Costco, Ace Hardware, Target, and many others. The subject property features a desirable unit mix of three singles (500 SF), eight spacious one-bedrooms (750 SF), three two-bedrooms (900 -950 SF) and one three-bedroom (1,100 SF) with 14 gated parking spaces. The soft story retrofit work has been completed. This investment provides an investor the opportunity to acquire an asset with steady in-place cash flow at a 4.18% CAP rate on current income with substantial upside of over 39%. Favorable financing is available with a quoted 65% LTV at 3.25% interest rate with possible interest only options. The majority of the units are leased at below market rents with a loss-to-lease of 28%. Being a well-maintained building with little deferred maintenance, an investor will be able to capture the upside by focusing on their interior unit renovation program. The building has a gated front entrance and a courtyard for tenants. Additionally, the property has a community laundry room with washers and dryers, is separately metered for gas and electricity and have wall air conditioning in the units. Nestled in the heart of the San Fernando Valley, Van Nuys is densely populated and has a diverse community full of economic opportunity and growth. This evolving neighborhood offers shopping, restaurants, theme parks, and benefits from the employment of the movie industry. Located less than 20 miles away from LA’s Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley, residents living in Van Nuys can easily commute throughout the city. Cutting through the middle of the neighborhood is the 405 freeway (San Diego Freeway), but the community is also near the 101 (Ventura Freeway), 170 (Hollywood Freeway), 118 (Simi Valley Freeway), and the I-5 (Golden State Freeway). Residents living in this neighborhood can also skip

Investment Highlights

  • A 10,990 sf 15-unit value-add investment opportunity in Lake Balboa, Van Nuys located at 6711 Haskell Ave with steady in-place cash flow at a 4.18% CAP rate on current income with over 39% upside
  • A desirable unit mix of three singles, eight spacious one-bedrooms, three two-bedrooms and one three-bedroom
  • 14 gated parking spaces and the ownership has completed the soft story retrofit work
  • Below market rents and little deferred maintenance will allow an investor to capitalize on the rental upside
  • Separately metered for both gas and electricity, there is also a community laundry room with washers and dryers on-site
  • Just west the 405 FWY and walking distance to many desirable destinations; less than one mile from the Valley Presbyterian Hospital
  • 20 miles away from LA's Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley

Exclusively Listed By

Multifamily

6711 Haskell Avenue

Listing Price: $3,400,000

Cap Rate
4.31%
Number of Units
15
Price/Unit
$226,667
Price/Gross SF
$309.37
Gross SF
10,990

Investment Highlights

  • A 10,990 sf 15-unit value-add investment opportunity in Lake Balboa, Van Nuys located at 6711 Haskell Ave with steady in-place cash flow at a 4.18% CAP rate on current income with over 39% upside
  • A desirable unit mix of three singles, eight spacious one-bedrooms, three two-bedrooms and one three-bedroom
  • 14 gated parking spaces and the ownership has completed the soft story retrofit work
  • Below market rents and little deferred maintenance will allow an investor to capitalize on the rental upside
  • Separately metered for both gas and electricity, there is also a community laundry room with washers and dryers on-site
  • Just west the 405 FWY and walking distance to many desirable destinations; less than one mile from the Valley Presbyterian Hospital
  • 20 miles away from LA's Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley

Investment Overview

A 10,990 SF, 15-unit value-add investment opportunity in Lake Balboa, Van Nuys. The subject property is just west of the 405 Freeway and is less than 1 mile from Valley Presbyterian Hospital. This ideal location is walking distance to many desirable destinations such as Woodley Park, 99 Ranch Market, Zankou Chicken, Costco, Ace Hardware, Target, and many others. The subject property features a desirable unit mix of three singles (500 SF), eight spacious one-bedrooms (750 SF), three two-bedrooms (900 -950 SF) and one three-bedroom (1,100 SF) with 14 gated parking spaces. The soft story retrofit work has been completed. This investment provides an investor the opportunity to acquire an asset with steady in-place cash flow at a 4.18% CAP rate on current income with substantial upside of over 39%. Favorable financing is available with a quoted 65% LTV at 3.25% interest rate with possible interest only options. The majority of the units are leased at below market rents with a loss-to-lease of 28%. Being a well-maintained building with little deferred maintenance, an investor will be able to capture the upside by focusing on their interior unit renovation program. The building has a gated front entrance and a courtyard for tenants. Additionally, the property has a community laundry room with washers and dryers, is separately metered for gas and electricity and have wall air conditioning in the units. Nestled in the heart of the San Fernando Valley, Van Nuys is densely populated and has a diverse community full of economic opportunity and growth. This evolving neighborhood offers shopping, restaurants, theme parks, and benefits from the employment of the movie industry. Located less than 20 miles away from LA’s Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley, residents living in Van Nuys can easily commute throughout the city. Cutting through the middle of the neighborhood is the 405 freeway (San Diego Freeway), but the community is also near the 101 (Ventura Freeway), 170 (Hollywood Freeway), 118 (Simi Valley Freeway), and the I-5 (Golden State Freeway). Residents living in this neighborhood can also skip

Exclusively Listed By

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