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17463 Vanowen St
Van Nuys, CA 91406
Multifamily Property For Sale
·
14 Units
PROPERTY FACTS
| No. Units | 14 | Building Size | 13,434 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Low-Rise | Tenancy | Single |
| Building Class | C | Parking Ratio | 1/1,000 SF |
| Lot Size | 0.36 AC | ||
| Zoning | R3-1, Los Angeles | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 13,434 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Tenancy | Single |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3-1, Los Angeles |
AMENITIES
UNIT AMENITIES
- Balcony
- Storage Space
ABOUT 17463 VANOWEN ST , VAN NUYS, CA 91406
Marcus & Millichap is pleased to announce the sale of 17463 Vanowen Street in the San Fernando Valley. Containing 14 apartment units, the property sits within the desirable Lake Balboa neighborhood of Van Nuys, just north of Encino and Lake Balboa Park near the intersection of White Oak Avenue and Vanowen Street. With excellent visibility on a corner lot along Vanowen Street, the property provides a new owner the opportunity to steadily improve cash flow by eventually capturing the approximately 54% rent upside. Compared to similar multifamily properties that have sold within the past year, 17463 Vanowen Street compares favorably with an attractive price per unit and price per square foot, listed at only $198,214 and $206, respectively. Rent growth has been steady in Lake Balboa, one of the more desirable neighborhoods of Van Nuys, near the Encino border. During 2017, average effective rents have increased by 2.4%. Meanwhile, vacancy rates have remained tighter than the Los Angeles Metro average, with Van Nuys only reaching a 2.5% vacancy rate, compared to 3.6% for Greater Los Angeles.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $996.50 | 750 |
| 2+2 | 7 | $1,527 | 1,050 |
PROPERTY TAXES
| Parcel Number | 2229-005-046 | Improvements Assessment | $2,002,578 |
| Land Assessment | $1,109,381 | Total Assessment | $3,111,959 |
PROPERTY TAXES
