14643 Friar St - Apartments FOR SALE


Van Nuys, CA 91411
$1,700,000 USD
310-897-0044
14643 Friar St, Van Nuys, CA for Sale
$1,700,000 USD
Apartments - FOR SALE
1/11
null | 4.12% Cap Rate

14643 Friar St
Van Nuys, CA 91411


HIGHLIGHTS

  • Historically 100 occupied with no covid related delinquency
  • $715,000 assumable loan at 3.4% interest rate ,1% assumption fee
  • NO soft story retrofitting required , (5 private garages )
  • owner owned newer laundry machines
  • Upgraded electrical panels
  • just passed city of LA annual inspection

OVERVIEW

GATED 6 UNIT BUILDING CLOSE TO THE COURTHOUSE , BUS STOP AND SHOPPING . Current Monthly income is $8,489 in just apartment unit rent .Avg Laundry Income is $275+ monthly . Assumable $715,000 loan at 3.4% Interest Rate with 1% assumption fee . New electrical panel upgrades 2024, fully compliant with current Insurance regulations .Owned newer washer & dryer .No COVID Deferred rents EVER since March 2020 . Easy to maintain landscape and overall maintenance . Well conditioned Tenants, zero late fees/unlawful detainers since 2019 Extremely well organized Admin files and accounting . Five (5) attached Garages in back alley and secured entry .Plumbing upgrades in select units and on an as needed .This is a rent control building and subject to a 4% rent increase each year.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$346 USD /SF

# OF UNITS

6

PRICE/UNIT

$283,333

CAP RATE

4.12%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

LAR3

APN/PARCEL ID

2241-003-012

ASK ABOUT THIS PROPERTY

Steven Bijan MesbahRodeo Realty Inc.More Info
310-897-0044

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Steven Bijan MesbahRodeo Realty Inc.More Info
310-897-0044

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.