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14206 Calvert St 6 Unit Apartment Building $1,699,000 ($283,167/Unit) Van Nuys, CA 91401
EXECUTIVE SUMMARY
This vacant 5-unit multifamily building presents a rare RTI opportunity for a 5-unit expansion to act as 9 units, including conversion of units and the addition of an ADU. Two of the top-floor 1+1 units have already been tastefully upgraded, with permits fully pulled for conversion of the remaining three units and the addition of three more (including the ADU). Once complete, the property is projected to achieve a 9.38% Cap Rate. With all plans RTI and the property delivered vacant, you can start construction immediately and capture rental upside in one of the San Fernando Valley's most active submarkets.Potential ARV (Resale Value) after Upgrades/ADU @ 6% Cap $3,075,000 OR Refi Out Most of Your Capital After Upgrades/ADU$2,080,000
PROPERTY FACTS
| Price | $1,699,000 | Apartment Style | Low-Rise |
| Price Per Unit | $283,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Sale Condition | High Vacancy Property | Building Size | 3,047 SF |
| Gross Rent Multiplier | 7.19 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 1.64/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR3 - Multi-family Residential | ||
| Price | $1,699,000 |
| Price Per Unit | $283,167 |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 7.19 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,047 SF |
| No. Stories | 1 |
| Year Built | 1958 |
| Parking Ratio | 1.64/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 - Multi-family Residential |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Range
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 2240-024-010 | Improvements Assessment | $511,876 |
| Land Assessment | $767,815 | Total Assessment | $1,279,691 |
PROPERTY TAXES
Parcel Number
2240-024-010
Land Assessment
$767,815
Improvements Assessment
$511,876
Total Assessment
$1,279,691
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14206 Calvert St
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