The Sherman Terrace apartments are located just west of Kester on Sherman Way in the heart of Van Nuys, a submarket of the San Fernando Valley in the City of Los Angeles, California. This location offers tremendous visibility on this large east / west major artery in the Valley and easy access to the 405 freeway. 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.