14921 Sherman Way
Van Nuys, CA 91405
26760 sqft | 50 beds | 0.68 acres | #24350843
Description
This 32-unit two-story garden style complex has gated entry, a pool, laundry room and landscaped courtyard. The parking is also gated and has 24 tuck under spaces, 9 carport spaces and one open space for a total of 34 cars. The City of Los Angeles mandatory seismic retrofit work has already been completed by the owner. Other capital improvements include repaving the driveway and putting on a new roof about 10 years ago.The building is separately metered for both gas and electricity and the majority of the units have a private patio or balcony. The unit mix is excellent of 56% two bedrooms, two baths units averaging $1.59 psf and 44% one bedroom units averaging $1.34 psf. Both unit types are currently renting significantly below the current market of at least 50%.This well-maintained complex offers an investor stable cash flow with upside that will appreciate in value over time. The property is also located in an Opportunity Zone, which offers an investor the potential to defer and eliminate capital gains if they substantially improve the asset per the existing OZ laws. *Located in Opportunity Zone *Very well maintained *Great Mix of 1 & 2 Bedrooms with Balconies / Private Patios *Gated Parking & Entry *Pool, Laundry and Landscaped Courtyard
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$7,000,000
- MLS #24350843
- MLS #24350843
- Cost6000000
- Acres0.6796
- Square Feet26760
- Year Built1964
- Bedrooms50
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: David Kaufman (#CLW-X64958)
Listing Office: David Ballin Kaufman (#CLW-X74329)
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