6716 Sylmar Avenue

Description

We are pleased to present for sale the 12-unit multifamily property located at 6716 Sylmar Avenue in Van Nuys, California. Built in 1984, the property is not subject to LA Rent Control (RSO) and is governed only by AB 1482, allowing annual rent increases The property features 12 two-bedroom, two-bathroom units, each approximately 833 square feet, with easy-to-manage family tenants in nearly all units. The property has a gated and controlled entrance, 24 total parking spaces (12 tandem), central heating and air, an onsite laundry room with two washers and two dryers (machines are leased), and 12 large storage closets. Importantly, the tuck under parking is exempt from the city's mandatory seismic retrofit program because the property was built in the 1980s. With upside in rents, this property offers a great opportunity to acquire a well-positioned asset in an up-and-coming area with good value-add potential. Thoughtfully maintained by the current ownership for over 20 years, recent improvements include a GE Enduris silicone-coated roof, repaired copper plumbing, and replaced air conditioners and heaters in select units. The property's strategic location in a budding pocket of Van Nuys benefits greatly from nearby new construction and proximity to key amenities. With no seismic retrofitting required and a significant rental upside, this investment presents a compelling opportunity for investors looking to capitalize on value-add potential and steady tenant demand.