See all 11 photos
11 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$3,800,000
Est. payment /mo
9,996 SqFt
UPDATED:
02/21/2025 02:28 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,996 sqft
Price per Sqft $380
MLS Listing ID CL25501183
HOA Y/N No
Year Built 1984
Lot Size 10,783 Sqft
Acres 0.25
Property Sub-Type Other
Property Description
We are pleased to present for sale the 12-unit multifamily property located at 6716 Sylmar Avenue in Van Nuys, California. Built in 1984, the property is not subject to LA Rent Control (RSO) and is governed only by AB 1482, allowing for annual rent increases of 5% + CPI (maximum of 10 percent).The property features 12 two-bedroom, two-bathroom units, each approximately 833 square feet, with easy-to-manage family tenants in nearly all units. The property has a gated and controlled entrance, 24 total parking spaces (12 tandem), central heating and air, an onsite laundry room with two washers and two dryers (machines are leased), and 12 large storage closets. Importantly, the tuck under parking is exempt from the city's mandatory seismic retrofit program because the property was built in the 1980s.With an estimated 14% rent upside compared to market rents, this property presents a prime opportunity to acquire a well-located asset in a rapidly improving area with strong value-add potential. Additional upside can be realized by achieving the maximum Section 8 rent of $2,952 per month for two-bedroom units in the 91405 ZIP code (Tier 3 of the Section 8 payment standards). Thoughtfully maintained by the current ownership for over 20 years, recent improvements include a GE Enduris silico
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 2237003043
Read Less Info
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Filip Niculete • Marcus & Millichap
_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."
CONTACT US