7437 Haskell Avenue,Van Nuys, CA 91406
Van Nuys, CA 91406
Description
Due to its construction in 1987, the property is not subject to Los Angeles rent control and instead allows for higher annual rent increases via AB 1482. Given its attractive 6.46% CAP Rate, the asset offers an investor both strong immediate cash flow as well as the opportunity to increase future income more rapidly without the restrictions of Los Angeles rent control. With spacious one-bedroom floorplans averaging approximately 875 square feet each, the property can more easily attract higher-paying tenants. Its array of desirable amenities, including central air/heat, private balconies, and on-grade garage parking, allow the building to achieve more premium rents than competing apartments in the local area. Several of the units have already been thoroughly upgraded, saving an owner from future renovation costs while providing a clear blueprint for remodeling the remaining apartments. Interior upgrades in renovated units include wood flooring, stone countertops, stainless steel appliances, recessed lighting, and new ceiling fans. The building does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list, saving an investor from an otherwise costly maintenance expense. Located near the intersection of Sherman Way and Haskell Avenue, the property offers residents incredibly easy access to the 405 Freeway, connecting tenants to various job centers and retail destinations throughout the San Fernando Valley and Greater Los Angeles Metro area.
Details
| MLS # | 26845473 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 84 |
| Listing Provided By | Marcus & Millichap | Roderick 'Rick' Raymundo |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 10 |
| SQ Feet | 8,830 |
| Story(s) | 3 |
| Units | 10 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.16 |
Parking
| Parking Features | Assigned |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Van Nuys |
| Zip Code | 91406 |
| Area | LKBL Lake Balboa |
| Listing VS Median (in 91406) | |
Price: $2,550,000 low | high Med: $725,000 sqft: 8,830 low | high Med: 1,639 $ / sqft: $289 low | high Med: $442 On site: 84 low | high Med: 148 | |
Market Activity 91406
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Van Nuys |
| Zip Code | 91406 |
| Area | LKBL Lake Balboa |
| Listing VS Median (in 91406) | |
Price: $2,550,000 low | high Med: $725,000 sqft: 8,830 low | high Med: 1,639 $ / sqft: $289 low | high Med: $442 On site: 84 low | high Med: 148 | |