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16 Units | $134K/Door | Van Nuys 15865 Vanowen St 16 Unit Apartment Building $2,150,000 ($134,375/Unit) Van Nuys, CA 91406
INVESTMENT HIGHLIGHTS
- Eric Dilanian & The Dilanian Real Estate Advisors, Present 16 Units in highly desirable Lake Balboa Neighborhood of Van Nuys
- Upside Opportunity: Low Basis Acquisition at $134K/Unit, and Abundant Space to Utilize SB 1211 - Allowing for up to 8 Detached ADU's (Buyer to Verify)
- Building SF & Zoning: ± 9,460 SF | Zoned: R3-1
- (16) Unit 1976 Built Apartment with a Unit Mix of (15) 1 Bedroom Units & (1) Studio Unit
- Rare Opportunity: First time Offered for Sale in 40 Years!
- Located in a strong rental location and in close proximity to Lake Balboa, Sepulveda Basin Recreation Area, Sherman Oaks, NOHO, Encino, CSUN
EXECUTIVE SUMMARY
Eric Dilanian of The Dilanian Real Estate Advisors, as part of RE/MAX Commercial & Investment Realty, is pleased to present for sale this 16-unit value-add multifamily investment opportunity located at 15865 Vanowen Street in the desirable Lake Balboa neighborhood of Van Nuys, with potential for detached ADU development.
Constructed in 1976, the property encompasses approximately ±9,460 square feet of building area on a large ±13,494 square foot lot. Zoned R3-1, the unit mix consists of fifteen (15) one-bedroom/one-bath units and one (1) studio unit. The asset presents investors with a compelling low-basis acquisition and significant upside potential in a high-demand rental corridor.
The property benefits from its proximity to several of the San Fernando Valley’s most established neighborhoods, including Van Nuys, Lake Balboa, Sherman Oaks, North Hollywood Arts District, and Encino. Residents enjoy convenient access to major employment centers, retail, dining, and public transportation. The location carries a Walk Score of 66 (“Somewhat Walkable”), allowing select daily errands to be completed on foot.Investors have the opportunity to capture immediate upside through a vacant unit and to explore the potential development of up to eight (8) detached ADUs pursuant to SB 1211 (buyer to verify all feasibility, zoning, and entitlement requirements)
Disclosure: Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units.
DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY.
Constructed in 1976, the property encompasses approximately ±9,460 square feet of building area on a large ±13,494 square foot lot. Zoned R3-1, the unit mix consists of fifteen (15) one-bedroom/one-bath units and one (1) studio unit. The asset presents investors with a compelling low-basis acquisition and significant upside potential in a high-demand rental corridor.
The property benefits from its proximity to several of the San Fernando Valley’s most established neighborhoods, including Van Nuys, Lake Balboa, Sherman Oaks, North Hollywood Arts District, and Encino. Residents enjoy convenient access to major employment centers, retail, dining, and public transportation. The location carries a Walk Score of 66 (“Somewhat Walkable”), allowing select daily errands to be completed on foot.Investors have the opportunity to capture immediate upside through a vacant unit and to explore the potential development of up to eight (8) detached ADUs pursuant to SB 1211 (buyer to verify all feasibility, zoning, and entitlement requirements)
Disclosure: Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units.
DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY.
PROPERTY FACTS
| Price | $2,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $134,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Sale Condition | 1031 Exchange | Building Size | 9,460 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 1.8/1,000 SF |
| Zoning | LAR3 - high density residential | ||
| Price | $2,150,000 |
| Price Per Unit | $134,375 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 9,460 SF |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | LAR3 - high density residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
| Studios | 1 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 2224-034-059 | Improvements Assessment | $856,903 |
| Land Assessment | $367,230 | Total Assessment | $1,224,133 |
PROPERTY TAXES
Parcel Number
2224-034-059
Land Assessment
$367,230
Improvements Assessment
$856,903
Total Assessment
$1,224,133
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16 Units | $134K/Door | Van Nuys | 15865 Vanowen St
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