8924 Van Nuys Blvd - Apartments FOR SALE


Panorama City, CA 91402
$3,165,000 USD
213-233-4392
8924 Van Nuys Blvd, Panorama City, CA for Sale
$3,165,000 USD
Apartments - FOR SALE
1/20
null | 5% Cap Rate

8924 Van Nuys Blvd
Panorama City, CA 91402


HIGHLIGHTS

  • 18 Spacious Units Comprised of Singles, 1-Beds, 2-beds, 3-beds, and 4-beds.
  • Soft Story Retrofit Completed.
  • Substanial Upside Potential +/- 83%.
  • Secured Parking.
  • Possible Conversion of Rec Room to ADU (Buyer to Verify).
  • Located on a Major Blvd.

OVERVIEW

RE/MAX Commercial & Investment Realty proudly presents an exceptional investment opportunity – the Van Nuys Apartments. This prime property boasts 18 well-appointed units, including 2 singles, 9 one-bedroom/one-bath, 4 two-bedroom/1.5-bath, 2 three-bedroom/two-bath, and 1 four-bedroom/2.5-bath units. Residents enjoy amenities, such as a refreshing swimming pool, convenient on-site laundry facilities, and secure on-site parking. Recently undergoing a soft story retrofit in 2021, this property offers a significant upside potential of approximately 83%, making it an ideal acquisition for savvy investors. Strategically located on Van Nuys Blvd, just south of Nordhoff, the apartments boast a Walk Score of 78, enabling residents to accomplish most errands on foot. Proximity to major freeways (405, 5, and 118), hospitals (Kaiser Permanente), and schools (Vista Middle School, Chase Elementary, and James Monroe High School) further enhances its appeal. With the upcoming East San Fernando Valley Light Rail Transit Project, featuring 11 stations along a 6.7-mile stretch (most on Van Nuys Blvd), the property will be conveniently positioned within a short walking distance to one of the stops at Van Nuys Blvd and Nordhoff St. Don't miss this exceptional opportunity to invest in a prime asset with tremendous growth potential. **BUYER TO PAY FOR THEIR AGENT'S CONCESSION***

FOR SALE DETAILS

PRICE

$3,165,000 USD

PRICE/SF

$202 USD /SF

# OF UNITS

18

PRICE/UNIT

$175,833

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Van Nuys Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,566 SF

ZONING

LAR3

APN/PARCEL ID

2639-006-037

ASK ABOUT THIS PROPERTY

Luis MoralesRE/MAX Commercial & Investment RealtyMore Info
213-233-4392

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Luis MoralesRE/MAX Commercial & Investment RealtyMore Info
213-233-4392

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