Homes for sale - 14921 Sherman Way, Van Nuys, CA 91405

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Naomi Kalkanoff

naomi.kalkanoff@engelvoelkers.com +1(310) 418-8546

$ 6,000,000

Est. payment -/mo

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Price Dropped by $250K

14921 Sherman Way Van Nuys, CA 91405

50 Beds

50 Baths

26,760 SqFt

UPDATED:

12/09/2024 06:58 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 26,760 sqft

Price per Sqft $224

MLS Listing ID 24-350843

Bedrooms 50

Year Built 1964

Lot Size 0.680 Acres

Acres 0.6796

Property 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

Location

State CA

County Los Angeles

Area East Van Nuys

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment Range/Oven

Laundry Room

Exterior

Parking Features Gated

Garage Spaces 34.0

Pool In Ground, Community

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by David Ballin Kaufman

Naomi Kalkanoff

Agent

+1(310) 418-8546

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