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$ 3,700,000
Est. payment | /mo
9,996 SqFt
$ 3,700,000
Est. payment | /mo
9,996 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 9,996 sqft
Price per Sqft $370
MLS Listing ID CL25501183
HOA Y/N No
Year Built 1984
Lot Size 10,783 Sqft
Acres 0.25
Property Sub-Type Other
Property Description
We are pleased to present for sale the 12-unit multifamily property located at 6716 Sylmar Avenue in Van Nuys, California. Built in 1984, the property is not subject to LA Rent Control (RSO) and is governed only by AB 1482, allowing annual rent increases The property features 12 two-bedroom, two-bathroom units, each approximately 833 square feet, with easy-to-manage family tenants in nearly all units. The property has a gated and controlled entrance, 24 total parking spaces (12 tandem), central heating and air, an onsite laundry room with two washers and two dryers (machines are leased), and 12 large storage closets. Importantly, the tuck under parking is exempt from the city's mandatory seismic retrofit program because the property was built in the 1980s. With upside in rents, this property offers a great opportunity to acquire a well-positioned asset in an up-and-coming area with good value-add potential. Thoughtfully maintained by the current ownership for over 20 years, recent improvements include a GE Enduris silicone-coated roof, repaired copper plumbing, and replaced air conditioners and heaters in select units. The property's strategic location in a budding pocket of Van Nuys benefits greatly from nearby new construction and proximity to key amenities. With no seismic ret
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 2237003043
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Listed by Filip Niculete • Marcus & Millichap