Multifamily Property for Sale in Van Nuys, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Van Nuys, CA 91405

Description

Marcus & Millichap is proud to present 13915 Sherman Way, a 15-unit townhouse-style multifamily property on Van Nuys's Sherman Way transit corridor. Built 1989, the property comprises 12 two-bedroom/2.5-bath townhomes and three one-bedroom flats across 16,144 SF on a 13,998 SF lot. Two-story wood frame with individually metered gas and electric, a community pool, on-site laundry, and 28 surface parking spaces. The property is RSO-exempt and subject only to AB 1482. The investment case is near-term rent capture with no capital requirement. Current gross scheduled rent of $372,828 grows to $460,800 at pro forma market rents of $2,650 TH / $2,200 flat — approximately 23.6% upside. Two legacy tenants sit at $1,184/month, most leases are month-to-month, and no permits have been pulled since 2006. Townhome format commands $100–$200/month premiums over valley flats. First offering in 30-plus years positions the deal for 1031 buyers, family offices, and value-add operators. Van Nuys submarket vacancy runs 4.7%, below the 5.3% LA metro average, and the 633-unit construction pipeline is concentrated in Class A that does not compete with the subject. The planned East SFV Light Rail station sits 0.5 miles east, opening 2031. TOC Tier 1 designation adds entitlement optionality for a long-term hold. Investment Highlights: • RSO Exempt — AB 1482 Only: Built 1989, the property sits outside the Los Angeles Rent Stabilization Ordinance and is subject only to AB 1482 (CPI + 5%, 10% max). • 23.6% Rent Upside with Month-to-Month Rollovers: Current gross scheduled rent of $372,828 grows to $460,800 at pro forma market rents of $2,650 TH / $2,200 flat. • Premium Townhome Format, 12 of 15 Units: 12 two-story townhomes at ~1,100 SF with 2.5 baths command $100–$200/month premiums over valley flats. • First Offering in 30-Plus Years: Estate disposition following three decades of continuous ownership. • Supply-Constrained Class B Submarket: Van Nuys vacancy runs 4.7% vs 5.3% LA metro, and the

Market Context

This multifamily in Van Nuys, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 53 days. Compare it against other multifamily listings for sale in Van Nuys, CA — <a href="/search/sale/multifamily/california/van-nuys">view the full market</a>.

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