14011 Sherman Way Van Nuys, CA 91405

• April, 2024

• Apr 25, 2024

  Date

  Active

  CRMLS: SR24083316

  $2,995,000

  Price

• March, 2024

• Mar 16, 2024

  Date

  Expired

  CRMLS: 23269877

  $2,995,000

  Price

• Apr 19, 2023

  Date

  Active

  CRMLS: 23269877

  $3,025,000

  Price

• Listing provided courtesy of CRMLS

  -Seller is willing to provide Seller Financing at an interest rate of 4% interest only for 5 years -13 Units, Built in 1963 -Unit Mix: (1) Studio, (7) 1+1, (4) 2+1, (1) 2+2 -On-Site Parking-Adjacent to 405 & 170 Freeways -9,328 Square Foot Building on a 12,366 Square Foot Lot Zoned LAR3

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• May, 2023

• May 16, 2023

  Date

  Canceled

  CRMLS: 22191415

  $3,500,000

  Price

• Aug 19, 2022

  Date

  Active

  CRMLS: 22191415

  $3,500,000

  Price

• Listing provided courtesy of CRMLS

  ***Seller Will Carry at 4% int only for 3 years***Please request the marketing package to see our detailed numbers on the ADUs and cash flow.*** Are you willing to invest in multi-family units at almost a third of their value? Then you should acquire this 13 unit asset in Van Nuys that has the potential to add 5 new Accessory Dwelling Units or ADUs. It's now easier than ever to build ADUs in California, thanks to changes in state ADU law. New laws allow you to add 25% of the existing number of units to existing non-living space such as tuck under parking and add an additional 2 detached units if you have a four foot set back. These ADU applications must be approved within 60 days without a hearing and discretionary review. The State of California even has pre-approved ADU plans that may be used in order to speed up the process. This allows you to potentially add what we estimate would be $1.6 million dollars in value and over $100,000 in cash flow since this asset possesses enough tuck under parking to facilitate 3 attached units along with 2 detached stacked units in the courtyard. And you will still have parking in the front and the back of the building for some of the tenants. 14011 Sherman Way is only a 13 minute walk to the coming East Valley Transit Line that is part of the approved "Twenty-Eight by 28 plan" to complete 28 major transit projects by the 2028 Olympics. So far new public transit stops have driven up nearby rental prices between 25% to 67%. When completed, residents will experience a very different Los Angeles from the one traffic-weary commuters know today. Flush with cash from Measure M, Metro will expand the transit network so much during the next decade that Los Angeles may very well boast the nation's second most extensive rail system second only to New York. This will include the Sepulveda Pass line connecting the Valley to the Westside and the beach. With the Wall Street Journal reporting that, "Kids are So Over Driving", we recommend upgrading this asset with a modern clean look that appeals to young millennials who don't want to drive. Other clients are reporting that this group represents quality tenants willing to pay a high rent for a quality unit. When you buy a value-add property listed by us we provide you with an exterior design by our interior designer/architect and we can guide you through value-add strategies that will generate higher rents over time such as adding bedrooms to units. Ask how we can help. This 13 unit asset is an excellent value-add asset that can potentially generate a 19% average annual return over a four to five year period. Ask us to walk you through the numbers to see how.

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• May, 2022

• May 4, 2022

  Date

  Expired

  CRMLS: SR22021899

  $3,450,000

  Price

• Feb 3, 2022

  Date

  Active

  CRMLS: SR22021899

  $3,450,000

  Price

• Listing provided courtesy of CRMLS

  14011 Sherman Way is a 13 unit apartment building in the City of Van Nuys. Centrally located between Woodman and Van Nuys Blvd on the major thoroughfare of Sherman Way. The property is comprised of (1) one Single Unit, (7) seven (1) One Bedroom, and (1) One Bath Units, (4) four (2) Two Bedroom and (1) Bath Units, and (1) One (2) Two Bedroom and (2) Two Bath Townhouse Style Unit. The property hosts On-Site Parking and On-Site Laundry. The property is individually metered for gas and electricity. The seismic retrofitting was recently completed. The building has copper plumbing. The property will be sold in "As Is, Where Is" condition.

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• January, 2019

• Jan 1, 2019

  Date

  Expired

  CRMLS: 18328126

  $2,650,000

  Price

• Oct 29, 2018

  Date

  Withdrawn

  CRMLS: 18328126

  $2,650,000

  Price

• Oct 1, 2018

  Date

  Expired

  CRMLS: 18328126

  $2,650,000

  Price

• Mar 30, 2018

  Date

  Active

  CRMLS: 18328126

  $2,650,000

  Price

• Listing provided courtesy of CRMLS

  We are proud to present this 13-unit apartment building located at 14011 Sherman Way in Van Nuys, CA. The building consists of one studio, seven one-bedroom/one-bathroom units, four two-bedroom/two-bathroom units, and one two-bedroom/two-bathroom townhouse style unit. For the comfort and convenience of the tenants, this property has ample parking, on-site laundry, and a pool for all to enjoy. This quiet and up and coming area with great location allows residents to find work in the local business sector, direct access to the 405 freeway as well as Amtrak and Metrolink rail which gives easy access to commute to downtown. This investment offering provides a savvy investor the opportunity to capitalize on the existing low rents and own an investment property in a strong and centrally located rental pocket of Van Nuys. The potential yield this property has to offer is one of a kind.

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• June, 2003

• Jun 9, 2003

  Date

  Sold (Public Records)

  Public Records

  --

  Price

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