Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
6616 Sylmar Avenue . Van Nuys , CA 91405
For sale 7 units apartment building No rent control in Van Nuys, California. For more information contact the listing agent, Jordan Epstein 818-212-2799 Jordan.Epstein@marcusmillichap.com
Posted: 10/31/2021 2:12 pm
| On HOMEiZ: 913 days |
Updated: 2 years ago
| Views: 402
Location Map
Property Type
Sold
Property Price
$2500000
$2500000
11/01/2021
10,689.00
Sq. Ft.
$347
7210
2.0%
4.19%
$0
$104750
14.50
$0
1.25%
$31250
Property Location & Description
For sale 7 units apartment building No rent control in Van Nuys, California. For more information contact the listing agent, Jordan Epstein 818-212-2799 Jordan.Epstein@marcusmillichap.com
Non Rent Control
Constructed in 1994, the subject property is not governed by LA City rent control, but instead governed only by California State Assembly Bill 1482 which allows owners to raise rents 5% plus CPI annually on average. The 7,210 square foot property sits on a 10,639 square foot lot (.24 acres) and comes complete with 2 parking spots per dwelling unit, 14 in total, all of which are guarded by an electrically operated security gate. The subject property consists of a very attractive unit mix made up of all 2 Bedroom / 2.5 Bathroom townhouse style units, each measuring approximately 1,000 square feet, which is also very rare for the area and extremely attractive to prospective renters. Each bedroom comes complete with its own private in-suite bathroom which is a huge draw to renters as well. Cherry wood tone laminate flooring, upgraded kitchen cabinetry with added storage space, central heat and air, upgraded LED recessed lighting, and GE appliances are some additional luxuries that renters enjoy and all of which are very rare for units in this pocket.
The subject property is also very proximate to the dense retail corridor on Van Nuys Blvd. which boasts much of the area’s most desirable shopping and dining attractions.
7
$357143
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
2+2.5
5
2.
2+2.5 ( Section 8)
2
3.
4.
5.
2237-00-3045
LAR3
100%
Wood & Stucco
1
1994
Very good
Built in 1994, No LA Rent Control
All 2-Story Townhouse Units
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
14
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
Listing Presented by
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