14737 Vanowen Street

Description

An opportunity to acquire 14737 Vanowen Street, a 6- unit value-add opportunity located in the Van Nuys Submarket of the San Fernando Valley. 14737 Vanowen was built in 1957, is subject to Los Angeles Rent Control ("RSO") and offers resilient in-place cash flow with upside potential with additional capital outlay. Current rents are approximately 18% below market providing a buyer the opportunity to achieve market rents through strategic interior and faade enhancements. The property has been under the same ownership for the past 20+ years and has been well maintained. Ownership has made necessary upgrades to buildings systems over the years and modestly upgraded units upon turnover. Thus, leaving cosmetic upgrades for a subsequent buyer to upgrade the building to the taste of the modern-day renter. 14737 Vanowen features a unique unit mix and is comprised of (4) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. The building is situated on a 6,401 square foot parcel and is comprised of a (1) two-story walk-up building with a detached carport structure in the rear of the property. Additional community amenities included one shared laundry facility with (1washers/1 dryers).