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Non RSO | 5 CAP | Seller Carry 5YRS @ 5% i/o 7342 Haskell Ave 21 Unit Apartment Building $7,100,000 ($338,095/Unit) 5.01% Cap Rate Van Nuys, CA 91406
INVESTMENT HIGHLIGHTS
- 5.01% in-place Cap Rate | *Excellent Seller Carry* - Seller will carry $3,250,000 @ 5% interest only for 5 years
- *Potential to add 5 (1+1) ADUs* - Adding approx. $100,000 in additional annual income.
- *Huge Units* - 15 (2+2) units with Six (1+1) units total building sq ft of 24,349
- *Not Subject to LA City Rent Control* - Built in 1986, allowing annual rental increases of 5% plus CPI, currently 8% annually.
- *18 of the 21 units have been beautifully upgraded*
- *500,000 in Recent Capital Improvements* - New roof, New elevator | Financial information as of 12/1/25
EXECUTIVE SUMMARY
Kelly Morgan Multifamily of Houze Real Estate is proud to present 7342 Haskell Ave, a 21-unit multifamily asset not subject to LA City Rent Control. Seller will carry $3,250,000 @ 5% interest only for 5 years, offering positive leverage since the current cap rate is 5.01%. Potential to add Five ADUs (Buyer to verify).
Built in 1986, the property is exempt from Los Angeles City rent control, allowing for annual rental increases of 5% plus CPI, currently 8% annually.
Significant capital improvements totaling approximately $500,000 have been invested into the property, including a new roof, elevator, exterior paint, upgraded hallway flooring, modern lobby tile, security camera installation, and updated interior lighting. Additionally, there is an opportunity to add Five 1-bedroom/1-bath ADUs without losing adequate parking and potentially increasing annual income by $100,000.
Proximity to Major Developments:
• East San Fernando Valley Light Rail Transit Project: Approximately 1.5 miles east, this 6.7-mile light rail line along Van Nuys Boulevard is under construction, with completion anticipated in 2031. It will enhance connectivity and transit options in the area.
• G Line Busway Improvements: Around 2 miles southeast, the Metro G Line is undergoing a $668 million upgrade, including the construction of elevated stations at key intersections like Van Nuys Boulevard and Sepulveda Boulevard, aiming to improve travel times and reliability.
• The Brightly at 6569 Van Nuys Blvd: Located approximately 2.5 miles southeast, this six-story development features 174 residential units and 18,400 square feet of ground-floor commercial space, contributing to the area's revitalization.
• Affordable Housing at 6100 Hazeltine Ave: About 3 miles southeast, a seven-story building with 72 affordable units is under development, addressing housing needs and promoting community growth.
This offering is ideal for investors seeking a well-maintained asset with value-add potential in a neighborhood poised for continued growth and development.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
*Disclaimer:
The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.
Built in 1986, the property is exempt from Los Angeles City rent control, allowing for annual rental increases of 5% plus CPI, currently 8% annually.
Significant capital improvements totaling approximately $500,000 have been invested into the property, including a new roof, elevator, exterior paint, upgraded hallway flooring, modern lobby tile, security camera installation, and updated interior lighting. Additionally, there is an opportunity to add Five 1-bedroom/1-bath ADUs without losing adequate parking and potentially increasing annual income by $100,000.
Proximity to Major Developments:
• East San Fernando Valley Light Rail Transit Project: Approximately 1.5 miles east, this 6.7-mile light rail line along Van Nuys Boulevard is under construction, with completion anticipated in 2031. It will enhance connectivity and transit options in the area.
• G Line Busway Improvements: Around 2 miles southeast, the Metro G Line is undergoing a $668 million upgrade, including the construction of elevated stations at key intersections like Van Nuys Boulevard and Sepulveda Boulevard, aiming to improve travel times and reliability.
• The Brightly at 6569 Van Nuys Blvd: Located approximately 2.5 miles southeast, this six-story development features 174 residential units and 18,400 square feet of ground-floor commercial space, contributing to the area's revitalization.
• Affordable Housing at 6100 Hazeltine Ave: About 3 miles southeast, a seven-story building with 72 affordable units is under development, addressing housing needs and promoting community growth.
This offering is ideal for investors seeking a well-maintained asset with value-add potential in a neighborhood poised for continued growth and development.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com**
*Disclaimer:
The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.
PROPERTY FACTS
| Price | $7,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $338,095 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 5.01% | Building Size | 24,349 SF |
| Gross Rent Multiplier | 12.33 | No. Stories | 3 |
| No. Units | 21 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 1.6/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3-1, Los Angeles | ||
| Price | $7,100,000 |
| Price Per Unit | $338,095 |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| Gross Rent Multiplier | 12.33 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 24,349 SF |
| No. Stories | 3 |
| Year Built | 1986 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3-1, Los Angeles |
AMENITIES
UNIT AMENITIES
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Security System
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PROPERTY TAXES
| Parcel Number | 2206-029-022 | Improvements Assessment | $4,297,892 |
| Land Assessment | $2,785,671 | Total Assessment | $7,083,563 |
PROPERTY TAXES
Parcel Number
2206-029-022
Land Assessment
$2,785,671
Improvements Assessment
$4,297,892
Total Assessment
$7,083,563
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Non RSO | 5 CAP | Seller Carry 5YRS @ 5% i/o | 7342 Haskell Ave
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