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13929 Sherman Way, Van Nuys, CA 91405
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13929 Sherman Way Van Nuys, CA 91405

$8,750,000
  • 41 Beds
  • 43 Baths
  • 28,599 Sq.Ft.
For Sale
$8,750,000 Get Pre-Qualified
Map preview of 13929 Sherman Way, Van Nuys, CA 91405

Property Overview: 13929 Sherman Way Van Nuys, CA has 41 bedrooms, 43 bathrooms, 28,599 living square feet and 23,876 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Offered for sale by the original developing family for the first time since it was constructed, the property is not subject to Los Angeles Rent Control, instead allowing for larger annual rent increases under California AB 1482. Spanning 28,599 square feet on a large 23,876 square foot lot, the building features spacious floorplans and a balanced mix of primarily two-bedroom and one-bedroom apartments. With high visibility along one of the largest streets in the San Fernando Valley, the property is situated between Van Nuys Boulevard and Woodman Avenue. This location allows tenants to be near the upcoming East San Fernando Valley Light Rail line, with a station planned for the corner of Sherman Way and Van Nuys Boulevard. In addition to providing quick transport within the Valley, this light rail line will offer residents convenient connections to both the Metrolink train and the Metro Orange and Red Lines. The property is not on the Los Angeles Department of Building and Safety's seismic retrofit list (Buyer to verify), saving a new investor a substantial amount of proceeds. Additional income is provided via the on-site laundry facilities.

Listed by Roderick 'Rick' Raymundo | BRE #01357019 | Marcus & Millichap
Co-listed by Jeffrey Louks | BRE #00908473 | Marcus & Millichap
Last checked: 13 minutes ago | Last updated: July 25th, 2023 | Source CRMLS | DOM: 278
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Home details

Lot Sq. Ft
23,876
HOA Dues
$0/mo
Year built
1987
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23290191
City
Van Nuys
County
Los Angeles
Time on Site
311 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 30
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,546
  • Total Rent: $3,093
  • Pro Forma/Market Rent: $3,290
Unit Breakdown 2
  • # of Units: 15
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,778
  • Total Rent: $26,670
  • Pro Forma/Market Rent: $29,925
Unit Breakdown 3
  • # of Units: 13
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,205
  • Total Rent: $28,670
  • Pro Forma/Market Rent: $31,135
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: 12.39
  • Gross Scheduled Income: --
  • Net Operating Income: $448,768
  • Gross Operating Income: $706,297
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 13929 Sherman Way

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 44
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Size Source: Estimated
Property Information
  • Total # of Units: 30
  • Parcel Number: 2216005043
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: We are pleased to announce the opportunity to purchase 13925 Sherman Way, a 30-unit multifamily property in Van Nuys, CA.
View more facts & features

Local Van Nuys Agent

Sale History for 13929 Sherman Way

Last sold on September 23rd, 2015

  • April, 2024

  • Apr 16, 2024

    Date

    Pending

    CRMLS: 24360221

    $2,195

    Price

  • Feb 20, 2024

    Date

    Active

    CRMLS: 24360221

    $2,195

    Price

  • Listing provided courtesy of CRMLS

    Updated Van Nuys 1bed/1bath w/Laundry in unit. New stove/oven, refrigerator, dishwasher, built in microwave, stacable washer/dryer, parking for 1, updated windows with blinds, center air/heat, gated building. Pets okay.

  • July, 2023

  • Jul 13, 2023

    Date

    Active

    CRMLS: 23290191

    $9,250,000

    Price

  • September, 2015

  • Sep 23, 2015

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 13929 Sherman Way

Assessed Value (2020): $6,630,000
Year Land Value Improved Value Assessed Value
2020 $2,040,000 $4,590,000 $6,630,000

Home Value Compared to the Market

This property vs the competition

13929 Sherman Way is listed 895.45% higher than the median list price for the city of Van Nuys which has a median list price of $879,000. The median price per/sqft for Van Nuys is $566 and this home is listed at $305.95 per/sqft which puts the price per square foot 45.94% lower than the median price per square foot for the city of Van Nuys.

About 13929 Sherman Way

Detailed summary of property

13929 Sherman Way is a multi family located in Van Nuys, CA 91405 and is currently for sale. This multi family property offers 41 bedrooms, 43 bathrooms, roughly 28,599 living square feet, and sits on an approximately 23,876 square foot lot. 13929 Sherman Way was first listed on ArdentRealEstateGroup.com on July 13, 2023. The homeowner is currently asking $8,750,000 and was originally asking $9,250,000. The median priced home in Van Nuys is $879,000 with a median price per square foot of $566. Based on Ardent Real Estate Group's Van Nuys Market Data, this home is listed 895.45% higher than the median priced home. Local competing homes currently for sale include 11755 National Blvd, 4233 Burns Ave and 5112 W Jefferson Blvd. While the average home in Van Nuys, CA is selling in 59 days, 13929 Sherman Way has a days on market of 278 days. There are currently 102 homes for sale in the Van Nuys real estate market and 76 of them are single family homes while 18 of them are condos and 8 are townhomes. For more information on this home for sale at 13929 Sherman Way Van Nuys, CA 91405 contact Ardent Real Estate Group and we will put you in touch with one of our Van Nuys agents.

Public Facts for 13929 Sherman Way

Public county record property details
Beds
--
Baths
--
Year built
1987
Sq. Ft.
28,599
Lot Size
23,875
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
223
APN
2216-005-043

The source for these homes facts are from public records.

91405 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$849,000
Median List Price/Sq.Ft.
$523
Median Sold Price
$820,000
Median Sold Price/Sq.Ft.
$491
Total Inventory
33
Median Sale to List Price %
102.63%
Avg Days on Market
17
Loan Type
Conventional (25%), FHA (8.33%), VA (0%), Cash (0%), Other (16.67%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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