6590 Hazeltine Ave - Apartments FOR SALE


Van Nuys, CA 91401
$5,275,000 USD
707-815-7472
6590 Hazeltine Ave, Van Nuys, CA for Sale
$5,275,000 USD
Apartments - FOR SALE
1/20
null | 6.05% Cap Rate

6590 Hazeltine Ave
Van Nuys, CA 91401


HIGHLIGHTS

  • 14 Unit Investment Opportunity in Valley Glen
  • (7) 2BR/1BA, (5) 3BR/2BA, & (2) 3BR/3BA
  • Onsite Laundry
  • Secured Onsite Parking
  • ~8 Vacant Units - Move-In Ready Condition

OVERVIEW

The Boyett Team at CBRE is pleased to present an exceptional opportunity to acquire 6590 Hazeltine Ave, a well-maintained 14-unit apartment community ideally located in the heart of Valley Glen, one of the San Fernando Valley's most established and tightly held residential neighborhoods. Built in 1988, this offering stands apart for the sheer scale of its residences — a rare collection of oversized two and three bedroom floor plans that live more like townhomes than apartments, in a submarket where large-format rental product of this caliber almost never trades. Situated on a 16,443 square foot lot, the property totals 18,080 square feet of gross building area, averaging an exceptional 1,291 square feet per unit across a single building. The asset features a unit mix of seven (7) two bedroom, two bath units, five (5) three bedroom, two bath units, and two (2) three bedroom, three bath units — with every residence in the building delivering two or more bedrooms and two or more bathrooms, a floor plan composition rarely assembled in the Valley Glen submarket. In-place rents generate a scheduled monthly income of $40,984 and scheduled yearly income of $491,808, with laundry income contributing an additional $4,800 annually — supporting durable, diversified cash flow at the property. Notably, the offering will be delivered with eight (8) vacant units, affording an incoming investor immediate operational flexibility across the majority of the building from day one. The property operates under California's AB 1482 statewide rent cap framework. Valley Glen's enduring residential appeal further strengthens the investment profile of 6590 Hazeltine Ave. The property is embedded within a quiet, tree-lined neighborhood anchored by Los Angeles Valley College and the landmark Great Wall of Los Angeles along the Tujunga Wash Greenway. Residents enjoy convenient access to the shops, dining, and entertainment of the NoHo Arts District, Westfield Fashion Square, and the Ventura Boulevard corridor in neighboring Sherman Oaks. Proximity to the 101, 170, and 405 freeways and major employment hubs across the Burbank Media District, Van Nuys Civic Center, and Kaiser Permanente Panorama City ensures sustained demand from a deep and highly qualified renter pool. With its prime Hazeltine Avenue address, exceptionally large two and three bedroom floor plans, strong in-place income, gated parking and on-site laundry, and eight vacant units offering immediate flexibility — 6590 Hazeltine Ave represents a rare opportunity to acquire a pride-of-ownership asset in one of the most stable and enduring residential submarkets in the San Fernando Valley.

FOR SALE DETAILS

PRICE

$5,275,000 USD

PRICE/SF

$292 USD /SF

# OF UNITS

14

PRICE/UNIT

$376,786

CAP RATE

6.05%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hazeltine Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1988

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

14,039 SF

ZONING

R3-1

APN/PARCEL ID

2238-002-036

ASK ABOUT THIS PROPERTY

John BoyettCBRE Boyett TeamMore Info
707-815-7472

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John BoyettCBRE Boyett TeamMore Info
707-815-7472

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