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6902 Vesper Ave 17 Unit Apartment Building $2,985,000 ($175,588/Unit) 4.20% Cap Rate Van Nuys, CA 91405
Investment Highlights
- Termendous over 30% upside potential
- 17 Units can be easily turn to 23 unit Call agents
Executive Summary
The property consists of 17 units with approximately 13,122 square feet of improvements situated on a 13,499 square foot lot, originally built in 1971. Per ownership, the property has completed retrofitting and has been recently painted, creating a strong foundation for a value-add investment strategy. Located on a quiet, tree-lined residential street just blocks from Van Nuys Boulevard, the property benefits from close proximity to major transportation corridors, public transit, shopping, and civic amenities throughout central VanNuys. The current unit mix includes 11 one-bedroom units • 6 two-bedroom, two-bath units
The six larger units were created by combining pairs of one-bedroom units, and the secondary kitchens remain in place, currently used as storage or additional sleeping areas. Based on the current configuration, there may be potential for a future owner to re-separate these units and explore additional unit creation, along with possible ADU opportunities, offering meaningful long-term upside.
The six larger units were created by combining pairs of one-bedroom units, and the secondary kitchens remain in place, currently used as storage or additional sleeping areas. Based on the current configuration, there may be potential for a future owner to re-separate these units and explore additional unit creation, along with possible ADU opportunities, offering meaningful long-term upside.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$400,000
|
$30.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$400,000
|
$30.48
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $400,000 |
| Annual Per SF | $30.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $400,000 |
| Annual Per SF | $30.48 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,985,000 | Building Class | C |
| Price Per Unit | $175,588 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 13,122 SF |
| Cap Rate | 4.20% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.9 | No. Stories | 3 |
| No. Units | 17 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 1.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3, Los Angeles - R-4 | ||
| Price | $2,985,000 |
| Price Per Unit | $175,588 |
| Sale Type | Investment |
| Cap Rate | 4.20% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 13,122 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 1.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Los Angeles - R-4 |
Amenities
- Smoke Detector
Unit Amenities
- Disposal
- Dining Room
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Gated
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | - | 1,100 |
| 1+1 | 11 | - | 550 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2219-026-062 | Improvements Assessment | $1,503,237 (2025) |
| Land Assessment | $683,285 (2025) | Total Assessment | $2,186,522 (2025) |
Property Taxes
Parcel Number
2219-026-062
Land Assessment
$683,285 (2025)
Improvements Assessment
$1,503,237 (2025)
Total Assessment
$2,186,522 (2025)
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6902 Vesper Ave
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