13623 Vanowen St
Van Nuys, CA 91405
Multifamily Property For Sale · 4 Units

The Boyett Team at CBRE is pleased to present an exceptional opportunity to acquire 13623 Vanowen Street, a well-maintained 4-unit apartment community located in the heart of Van Nuys — one of the San Fernando Valley’s most centrally positioned and supply-constrained rental markets. Built in 1947, the property reflects consistent upkeep and presents a compelling blend of stable in-place income and meaningful near-term upside.
With two vacant units — a one bedroom/one bath and a studio — the offering presents an excellent opportunity for immediate lease-up or an owner-user seeking flexible occupancy. Situated on a 7,967 square foot lot across two buildings, the property totals 2,728 square feet of gross building area with an average unit size of 682 square feet. The asset features a unit mix of one (1) studio, two (2) one bedroom/one bath units, and one (1) two bedroom/one bath house. Current rents average $1,650 for the studio, $1,448 for the one bedroom/one bath units, and $1,985 for the two bedroom/one bath unit, generating a scheduled monthly rent of $6,530 and scheduled yearly rent of $78,360. At current rents, the property operates at a 4.09% cap rate and 13.08 GRM, with a market cap rate of 6.17% and 9.89 GRM — reflecting 32% upside to market rents.
As a 1947 construction, the property is subject to the Los Angeles City Rent Stabilization Ordinance (RSO), which governs allowable annual rent increases and tenant protections. The two vacant units represent a near-term opportunity to reset rents to current market levels, providing a meaningful avenue for income growth within the
RSO framework.
Van Nuys’s enduring residential appeal further strengthens the investment profile of 13623 Vanowen Street. The neighborhood is widely recognized as the most populous community in the San Fernando Valley, offering residents a blend of everyday convenience, cultural diversity, and strong community infrastructure. The property sits just steps from Van Nuys Recreation Center on Vanowen and Tyrone, which features athletic fields, tennis courts, a gymnasium, and year-round programming for all ages. Nearby green spaces include the expansive Sepulveda Basin Recreation Area and the popular Lake Balboa/Anthony C. Beilenson Park, both offering abundant outdoor recreation for families and renters alike. The area is served by a range of educational options within LAUSD, including Van Nuys Elementary School, Van Nuys Middle School — home to a nationally recognized magnet program — and Van Nuys Senior High School, one of the top-ranked magnet high schools in Los Angeles. Proximity to major employment corridors along Sepulveda Boulevard and Van Nuys Boulevard, combined with convenient access to the 405 freeway and Metro G Line transit, ensures consistent rental demand from commuters across the region.