Rental Upside Approx. 20% ± Opportunity Zone

Highlights:

• Rental Upside | Approx 20% ±
• Portential to add ADUs
• On-Site Parking & Laundry
• Walking Distance to Van Nuys High School
• Approved Plans & Permits Paid for Soft Story Retrofit
• 100% Copper Plumbing
• Located in an Opportunity Zone
• Close to Van Nuys Blvd | Dense Retail Corridor

Description:

Retained as the exclusive listing agent Andy C. Kawatra of Marcus & Millichap is pleased to present an opportunity to acquire an eight (8) unit apartment building located in the dense rental submarket of Van Nuys. Resting on a 7,499 ± square foot lot, the Property features a highly desirable unit mix of one (1) studio, six (6) 2 bed and 1 bath units, and (1) 2 bed and 2 bath unit. The Property features 100% copper plumbing, on-site parking, on-site coin operated laundry, and approved plans and paid permits to complete the soft story retrofit. This opportunity also offers an investor 20% ± of rental upside.

The enclosed garage will be delivered vacant and is not assigned to any tenant, there is potential to convert to a Junior ADU. Six units have laminate flooring, and none of the kitchens and bathrooms have been updated. One of the sellers is a general contractor and has estimated roughly $70,000 to complete the soft story retrofit.

The property is surrounded by numerous employment options, boutique retail and dining, and several new residential developments making way to significant economic growth. Tenants will be within walking distance to the new and upcoming East SF Valley Light Rail Transit Victory station. This location is also within walking distance to Van Nuys High, and the dense retail corridor of Van Nuys Blvd which includes the Keyes Auto Mall.

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