Featuring spacious floorplans and a unit mix that contains nearly all two- and three-bedroom apartments, the property spans 12,568 gross square feet. The building occupies a corner lot near the intersection of Sherman Way and Haskell Avenue. The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms. The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.
Additional Features
- Two
- Parking spaces: 16.00
- Listing Status: Active
- Listing Agent: Roderick 'Rick' Raymundo
(lic# 01357019)
of CLAW
- Listing Office: Marcus & Millichap
(lic# 00530854)
-
Based on information from CRISNet MLS as of 7th May 2024 at 1:02pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
