Active

14921 Sherman Way

Van Nuys CA, 91405

$6,250,000


$233.56 per sqft

Active

50 Beds

50 Baths

26,760 sqft

Multi-family

Built in 1964

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

24-350843

MLS ID

January 23, 2024

Listed

October 2, 2024

Updated

Map

14921 Sherman Way
Van Nuys CA, 91405

Interior Features

Total Stories

2


Bedrooms

50


Total Bathrooms

50


Appliances

Range/Oven


Laundry Description

Room


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.68 Acres

Other Property Details

Area Name

East Van Nuys


Days on Market

243


Garage

No


Parking

Gated


Parking Total

34


View

No


County

Los Angeles


Pool

Yes


Pool Features

In Ground, Community


Zoning

LAR3

Listed by David Kaufman with David Ballin Kaufman
Listing Contact: 310-877-8600 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor BZP Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/2/2024

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