14639 Calvert Street

14639 Calvert St, Van Nuys, CA 91411, USA

For Sale

$2,025,000

Property Description

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 14639 Calvert Street in Van Nuys, California. The subject property is situated in a growing Van Nuys location, north of Oxnard Street and west of Van Nuys Boulevard

The most populous municipality in Los Angeles San Fernando Valley is Van Nuys. Located in central LA county, Van Nuys is close to many of the state’s major highways, making travel and day trips easy for those looking to experience many of Southern California’s premier attractions quickly. Van Nuys retains several old neighborhoods, original Spanish mission and art deco architecture that gives it more character than many nearby cities and towns. Van Nuys is home to many noteworthy food and entertainment spaces surrounding the subject property on Victory Boulevard, Woodman Avenue, Oxnard Street, and Van Nuys Boulevard. Van Nuys is also home to some of Los Angeles’ most sought-after outdoor amenities in Lake Balboa Park, including Woodley Park Archery Range, Japanese Garden, Sepulveda Basin Wildlife Reserve, Anthony C. Beilenson Park Van Nuys Gold Course, and Pedlow Skate Park. All of these outdoor spaces sit together, north of the -101 Freeway and west of the -405 Freeway. The subject property is also close to the -5, -170, and -134 Freeways.

Built in 1957, this property contains a great unit mix of eight (8) one bedroom / one bathroom units and two (2) two bedroom / one bathroom units. The property is well-maintained, situated in an opportunity zone, generates ample laundry income, and is well parked (soft story retrofit required). Units feature copper plumbing, new floors, cabinets, sinks, faucets, and retiled showers. Right across the street, a motion from 2022 acknowledges the Van Nuys Civic Center is slated to become one of the Valley’s key transportation nodes, with the G Line busway’s existing stop expected to also serve as the future terminus of a light rail line running along Van Nuys Boulevard. The area is growing rapidly due to high employment density with 4,449 employees per square mile. Residents will enjoy being within walking distance to great retail, restaurant, and entertainment amenities such as Costco Wholesale, Oxnard Coffee Shop, MacLeod Ale Brewing Co., Farm Table Co., Iceland Ice Skating Center, and Break Room LA. Less than a mile away, tenants can also enjoy outdoor recreation at Delano Park, right next to the Costco Wholesale. All tenants are current on payments.

Situated in a growing Van Nuys location, this offering presents an excellent opportunity for any investor to add value and capitalize on over 70% rental upside potential in one of the most populous submarkets of Los Angeles.

Contact Agent

Jason Tuvia / Nick Mejerski

818.212.2735

Unit Mix

Eight (8) One Bedroom / One Bathroom Units & Two (2) Two Bedroom / One Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

5,887 SF

Total Units

Year Built

1957

Property Location

14639 Calvert St, Van Nuys, CA 91411, USA

Property Description

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 14639 Calvert Street in Van Nuys, California. The subject property is situated in a growing Van Nuys location, north of Oxnard Street and west of Van Nuys Boulevard

The most populous municipality in Los Angeles San Fernando Valley is Van Nuys. Located in central LA county, Van Nuys is close to many of the state’s major highways, making travel and day trips easy for those looking to experience many of Southern California’s premier attractions quickly. Van Nuys retains several old neighborhoods, original Spanish mission and art deco architecture that gives it more character than many nearby cities and towns. Van Nuys is home to many noteworthy food and entertainment spaces surrounding the subject property on Victory Boulevard, Woodman Avenue, Oxnard Street, and Van Nuys Boulevard. Van Nuys is also home to some of Los Angeles’ most sought-after outdoor amenities in Lake Balboa Park, including Woodley Park Archery Range, Japanese Garden, Sepulveda Basin Wildlife Reserve, Anthony C. Beilenson Park Van Nuys Gold Course, and Pedlow Skate Park. All of these outdoor spaces sit together, north of the -101 Freeway and west of the -405 Freeway. The subject property is also close to the -5, -170, and -134 Freeways.

Built in 1957, this property contains a great unit mix of eight (8) one bedroom / one bathroom units and two (2) two bedroom / one bathroom units. The property is well-maintained, situated in an opportunity zone, generates ample laundry income, and is well parked (soft story retrofit required). Units feature copper plumbing, new floors, cabinets, sinks, faucets, and retiled showers. Right across the street, a motion from 2022 acknowledges the Van Nuys Civic Center is slated to become one of the Valley’s key transportation nodes, with the G Line busway’s existing stop expected to also serve as the future terminus of a light rail line running along Van Nuys Boulevard. The area is growing rapidly due to high employment density with 4,449 employees per square mile. Residents will enjoy being within walking distance to great retail, restaurant, and entertainment amenities such as Costco Wholesale, Oxnard Coffee Shop, MacLeod Ale Brewing Co., Farm Table Co., Iceland Ice Skating Center, and Break Room LA. Less than a mile away, tenants can also enjoy outdoor recreation at Delano Park, right next to the Costco Wholesale. All tenants are current on payments.

Situated in a growing Van Nuys location, this offering presents an excellent opportunity for any investor to add value and capitalize on over 70% rental upside potential in one of the most populous submarkets of Los Angeles.

Contact Agent

Jason Tuvia / Nick Mejerski

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Eight (8) One Bedroom / One Bathroom Units & Two (2) Two Bedroom / One Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Van Nuys

Price

$2,025,000

Price per Unit

$202,500

Price per SF

$343.98

Status

For Sale

Size

5,887 SF

Total Units

10

Year Built

1957

Property Location

14639 Calvert St, Van Nuys, CA 91411, USA