CA > Van Nuys
Van Nuys, CA 91405,6716 Sylmar Ave
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Lisa Kirshner

Lisa Kirshner

+1(424) 214-0133
$3,800,000
Est. payment /mo
24 Beds
24 Baths
9,996 SqFt
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UPDATED:

02/20/2025 10:08 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,996 sqft

Price per Sqft $380

MLS Listing ID 25501183

Bedrooms 24

Year Built 1984

Lot Size 10,783 Sqft

Acres 0.2475

Property Sub-Type Multi-Family

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 silicone-coated roof, repaired copper plumbing, and replaced air conditioners and heaters in select units. The property's strategic location in a budding pocket of Van Nuys benefits greatly from nearby new construction and proximity to key amenities. With no seismic retrofitting required and a significant rental upside, this investment presents a compelling opportunity for investors looking to capitalize on value-add potential and steady tenant demand.

Location

State CA

County Los Angeles

Area East Van Nuys

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Equipment Other

Laundry Community

Exterior

Parking Features Tandem

Garage Spaces 24.0

Roof Type Flat

Building

Story 2

Foundation Slab

Level or Stories Multi/Split

Structure Type Stucco

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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agent

Lisa Kirshner

+1(424) 214-0133

Agent | DRE 01159728 | 01965657

Agent DRE 01159728 | 01965657

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