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13915 Sherman Way
Van Nuys, CA 91405
Townhouse Style Units | 23% Upside in Rents · Multifamily Property For Sale
·
15 Units
Investment Highlights
- First Offering in 30-Plus Years: Estate disposition following three decades of continuous ownership.
- 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%
- TOC Tier 1 — Pre-Rail Transit Pricing: The site holds TOC Tier 1 status. The $3.6B federally funded East SFV Light Rail station sits 0.5 miles east.
- 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.
- 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.
- Supply-Constrained Class B Submarket: Van Nuys vacancy runs 4.7% vs 5.3% LA metro, and the 633-unit construction pipeline is concentrated in Class A
Executive Summary
The LAAA Team 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.
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.
Property Facts
| Price Per Unit | $360,156 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.45% | Lot Size | 0.32 AC |
| Gross Rent Multiplier | 10.59 | Building Size | 16,144 SF |
| No. Units | 15 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1989 |
| Zoning | LAR3 | ||
| Price Per Unit | $360,156 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 10.59 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 16,144 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1989 |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Storage Space
Site Amenities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 3 | - | 750 |
| 2+2.5 | 12 | - | 1,100 |
Property Taxes
| Parcel Number | 2216-005-004 | Improvements Assessment | $981,532 CAD |
| Land Assessment | $654,346 CAD | Total Assessment | $1,635,878 CAD |
Property Taxes
Parcel Number
2216-005-004
Land Assessment
$654,346 CAD
Improvements Assessment
$981,532 CAD
Total Assessment
$1,635,878 CAD
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