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14921 Sherman Way

Van Nuys, CA 91405

PRICE REDUCED

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-$1,000,000 (-14.29%)

$6,000,000

List Price

50

bed Beds

50

shower Baths

26,760 sqft

straighten / sqft

1964

calendar_month Built

Property Description

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

Listing Information

List Price $6,000,000
Status Active
MLS 24350843
Type Residential Income
Year Built 1964
Lot Size 29,604
Structure Size 26,760
DOM 316
Courtesy Of David Ballin Kaufman
Listing Agent David Kaufman DRE#01217537

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms 50
Total Bathroom
Bathrooms 50
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

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king_bed 3
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king_bed 4
shower 4
straighten 1,697
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Listing information courtesy of: David Kaufman, David Ballin Kaufman 818-464-3212. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 10th, 2024 at 4:04 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.