14317 Haynes Street
Van Nuys, CA, 91401 $ 1,795,000
Baths0.0 Sq 6,009 Monthly Estimate*
$ 11,930
Studio
for $1,795,000. This 6,009 square foot home was built in 1964 on a lot size of 0.17.
We are proud to present 14317 Haynes Street, a 7-unit apartment building located in Van Nuys, CA. Built in 1964, the subject property sits on a 7,500 square foot lot and offers a mix of 3- 1 bed/1 bath and 4- 2 bed/2 bath units, totaling 6,009 gross square feet. The offering is turnkey, featuring brand-new copper plumbing, roof, water heaters, laundry facilities and equipment (all owned, not leased), stainless steel appliances, and granite countertops. Additionally, units 1, 4, and 7 have undergone thorough gut renovations. The only outstanding items are fresh paint and driveway refurbishment, which the owner opted not to finalize to avoid prolonging tenant occupancy. Cash for keys has not been attempted by the owner. The property has ample gated parking for tenants with easy access through the right side of the building. To enhance the quality of living for residents, the property features a smoke-free environment with laundry facilities and proximity to shopping and restaurants. Select units have been completely updated with new stainless steel appliances, granite countertops, cabinets, bathrooms & kitchens, and laminate flooring throughout. One of this property's significant attractions is the great value-add potential. Current rents at the property are approximately 48% below the market rate, presenting a significant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $17,000 in gross rental income each month, or about $206,000 per year, increasing the buyer's CAP rate to 8.58%!Situated in the heart of Van Nuys, with a Walk Score of 82 (Very Walkable), the offering resides within a prominent commercial hub within the greater Los Angeles area. It enjoys easy access to major transportation arteries, including highways and public transit routes. Its proximity to key amenities such as shopping centers, restaurants, and business services enhances its appeal to both tenants and customers alike. Additionally, the area's strong demographic profile and steady economic growth contribute to the long-term viability of investments in this locale. With its central location and favorable market conditions, this property presents a great opportunity for investors seeking to capitalize on the dynamic commercial real estate landscape of Van Nuys, California.
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FeaturesGeneralZoning LAR3
Pool Features Private
Year Built 1964
Levels Two
County Los Angeles
Net Operating Income 91800.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Active
City Van Nuys
Buyer Agent Compensation 2.00
Senior Community Y/N No
Lot Size Square Feet 7502.0
Street Name Haynes
Standard Status Active
Buyer Agent Compensation Type %
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ExteriorParking Features Uncovered Covered
Lot Size Area 7502.0
Building Area Total 6009.0
Lot Size Acres 0.17
Lot Size Units Square Feet
Land Lease Type Fee
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InteriorTotal Stories 2
Street Suffix Street
Total Baths 0
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* Excluded FeaturesList ByFilip NiculeteListing Agent
Affordability Calculator
- Monthly Principal & Interest
- $11,930
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Van Nuys, CA
Average List Price $2,933,512
Percent of Sale Price 63%
About Van Nuys, CA 172,355 Population
0% Since 2002
$ 0 Median Income
0 Median Age
38% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/30/2024 | $1,795,000 | | Listed Price |