$1,795,000 Price Analysis   ♡   Van Nuys, CA 91401 11 bed 11 bath 6,009 SqFt ($298/SqFt) 7,502SqFt lot. Built 1964 Listed 2024-04-30, Taxes $14,095 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are proud to present 14317 Haynes Street
A 7-unit apartment building located in Van Nuys, CA. Built in 1964, the subject property sits on a 7, 500 square foot lot and offers a mix of 3- 1 bed/1 bath and 4- 2 bed/2 bath units, totaling 6, 009 gross square feet. The offering is turnkey, featuring brand-new copper plumbing, roof, water heaters, laundry facilities and equipment (all owned, not leased), stainless steel appliances and granite countertops. Additionally, units 1, 4 and 7 have undergone thorough gut renovations. The outstanding items are fresh paint and driveway refurbishment, which the owner opted not to finalize to avoid prolonging tenant occupancy. Cash for keys has not been attempted by the owner. The property has ample gated parking for tenants with easy access through the right side of the building. To enhance the quality of living for residents, the property features a smoke-free environment with laundry facilities and proximity to shopping and restaurants.
Select units have been completely updated with new stainless steel appliances, granite countertops, cabinets, bathrooms and kitchens and laminate flooring throughout. One of this property's significant attractions is the tremendous value-add potential. Current rents at the property are approximately 48% below the market rate, presenting a significant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $17, 000 in gross rental income each month or about $206, 000 per year, increasing the buyer's CAP rate to 8.58%!Situated in the heart of Van Nuys, with a Walk Score of 82 (Very Walkable), the offering resides within a prominent commercial hub within the greater Los Angeles area. It enjoys easy access to major transportation arteries, including highways and public transit routes. Its proximity to key amenities such as shopping centers, restauran ts and business services enhances its appeal to both tenants and customers alike. Additionally, the area's strong demographic profile and steady economic growth contribute to the long-term viability of investments in this locale. With its central location and favorable market conditions, this property presents a great opportunity for investors seeking to capitalize on the dynamic commercial real estate landscape of Van Nuys, California.
Presented by Filip Niculete at
Marcus & Millichap.
Property MLS #24-386177 from TheMLSCLAW
Full Bathrooms: 11
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7502
Calculated Total Monthly Association Fees: 0
Number of Units: 7
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 6000, 2 BedsTotal: 2, 2 BathsTotal: 2, 2 SquareFeet: 11200
County: Los Angeles
Cap Rate: 5.11
Directions: Haynes & Tyrone
Source Property Type: Residential Income
Area: East Van Nuys
Source Neighborhood: East Van Nuys
Parcel Number: 2237-012-016
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $483,541 + $630,706 $1,114,247 | $14,095 |
| 2021 | $474,060 + $618,340 $1,092,400 | $13,901 |
| 2020 | $469,200 + $612,000 $1,081,200 | $14,031 |
| 2019 | $469,200 + $612,000 $1,081,200 | $13,752 |
| 2018 | $127,108 + $39,622 $166,730 | $2,983 |
| 2017 | $124,616 + $38,846 $163,462 | $2,890 |
| 2016 | $122,173 + $38,085 $160,258 | $2,810 |
| 2015 | $120,338 + $37,513 $157,851 | $2,732 |
| 2014 | $117,981 + $36,779 $154,760 | $2,788 |
| 2013 | $117,448 + $36,613 $154,061 | $2,778 |
| 2012 | $115,146 + $35,896 $151,042 | $2,811 |
| 2010 | $112,889 + $35,193 $148,082 | $2,702 |
| 2009 | $112,313 + $35,013 $147,326 | $2,617 |
| 2009 | $112,046 + $34,930 $146,976 | $2,617 |
| 2008 | $110,111 + $34,327 $144,438 | $2,538 |
| 2007 | $107,952 + $33,654 $141,606 | $2,441 |
$1,795,000
TheMLSCLAW
Sold 2018-04-11
$1,060,000
Public Record
Listing removed 2014-02-07
$925
WestsideRentals
Listed for rent 2014-01-24
$925
WestsideRentals
Listing removed 2014-01-19
$895
WestsideRentals
Listed for rent 2014-01-05
$895
WestsideRentals
Sold 1968-10-03
$33,500
Public Record
Year Built: 1964
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 60
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.