Skip to main content

Multifamily

14108, 14129-14133 Gilmore

14108 Gilmore St, Los Angeles, CA 91401

Listing Price: $4,100,000

Cap Rate
3.60%
Number of Units
18
Price/Unit
$227,778
Price/Gross SF
$350.79
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 spread over three properties in Van Nuys, just north of the Sherman Oaks border. The Properties are centrally located and are a short drive to Ventura Boulevard (the main artery of San Fernando Valley) giving residents of the Properties unparalleled 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

  • Investors have the opportunity to capture 71% ($719)upside in rental income by renovating the remaining 12 non-renovated units and can effectuate 23% ($335) in loss-to-lease on the renovated units.
  • Once rents have been brought to market, investors can expect to net nearly double-digit returns.
  • A short 15 to 20-minute drive from some of the LA County's most prominent job centers
  • The revenue stream of 14129-14133 Gilmore can be enhanced through Accessory Dwelling Units (ADU). Per city code, up to 3 ADU's can be added to the building – an increase of 25% of the in-place unit count. The addition of three one bedroom units has the potential to increase Gross Potential Rent by $61,200 per year.
  • Van Nuys is projected to see average annualized rent growth of 4.27% over the next 5 years while maintaining average annual occupancy of above 97.8%

Exclusively Listed By

Multifamily

14108, 14129-14133 Gilmore

Listing Price: $4,100,000

Cap Rate
3.60%
Number of Units
18
Price/Unit
$227,778
Price/Gross SF
$350.79
Gross SF
11,688

Investment Highlights

  • Investors have the opportunity to capture 71% ($719)upside in rental income by renovating the remaining 12 non-renovated units and can effectuate 23% ($335) in loss-to-lease on the renovated units.
  • Once rents have been brought to market, investors can expect to net nearly double-digit returns.
  • A short 15 to 20-minute drive from some of the LA County's most prominent job centers
  • The revenue stream of 14129-14133 Gilmore can be enhanced through Accessory Dwelling Units (ADU). Per city code, up to 3 ADU's can be added to the building – an increase of 25% of the in-place unit count. The addition of three one bedroom units has the potential to increase Gross Potential Rent by $61,200 per year.
  • Van Nuys is projected to see average annualized rent growth of 4.27% over the next 5 years while maintaining average annual occupancy of above 97.8%

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 spread over three properties in Van Nuys, just north of the Sherman Oaks border. The Properties are centrally located and are a short drive to Ventura Boulevard (the main artery of San Fernando Valley) giving residents of the Properties unparalleled 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

MM Texture Background
MM Textured Background Lower