14622 Gilmore St - Apartments FOR SALE


Van Nuys, CA 91411
$2,100,000 USD
310-486-9900
14622 Gilmore St, Van Nuys, CA for Sale
$2,100,000 USD
Apartments - FOR SALE
1/8
null | 5.26% Cap Rate

14622 Gilmore St
Van Nuys, CA 91411


HIGHLIGHTS

  • 2009 Construction
  • Condo-Quality Finishes
  • 13 Subterranean Parking Spaces
  • In-Unit Washer & Dryers
  • Walkable to the Future Van Nuys Light Rail

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a well-maintained multifamily property located at 14622 Gilmore St, Van Nuys, California. This property, offered for sale by the original developer, consists of six townhouse-style units, each designed with high-end, condo-quality finishes . Built in 2009, the units feature modern amenities including central air and heat, individual water heaters, ample subterranean garage parking, and washer/dryer hookups—providing a top-tier living experience for residents. All six units are made up of two bedrooms, two full bathrooms, and one half bathroom. Additionally, the property is subject to California's AB 1482, allowing for higher annual rent increases compared to most multifamily properties in Los Angeles City. This is a prime opportunity for an investor to capitalize on the property’s quality and condition while benefiting from the potential for substantial rental upside. With consistent rental increases and unit turnover, a new owner could further enhance returns. There is also an opportunity to sub-meter water, increasing cash flow. The property is ideally located within walking distance of the highly anticipated East San Fernando Valley light rail line, a transformative 6.7-mile metro project that will provide convenient north-south transportation throughout the valley and connect riders across Los Angeles without the need for a car. In addition, with a direct connection to the Orange Line, renters will have easy access to major employment centers across the city. Major new developments and planned projects in the San Fernando Valley continue to underscore the area’s strong market fundamentals , supporting ongoing rental demand.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

6

PRICE/UNIT

$350,000

CAP RATE

5.26%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2009

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,691 SF

ZONING

LAR3

APN/PARCEL ID

2236-022-047

ASK ABOUT THIS PROPERTY

Robert NarchiMarcus & MillichapMore Info
310-486-9900

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Robert NarchiMarcus & MillichapMore Info
310-486-9900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.