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14623 Calvert St 9 Unit Apartment Building $2,688,406 CAD ($298,712 CAD/Unit) 5.80% Cap Rate Van Nuys, CA 91411
Investment Highlights
- Earthquake Retrofit Complete | New Roof Installed in 2019 | New Rain Gutters Installed in 2023 | New Electrical Panels in 2024
- Individual Utility Meters | Individually Metered for All Utilities Owner Only Pays Common Area Electricity
- Potential to Add Three (3) ADUs | Buyer to Verify
- Value-Add Opportunity | Over 28% Upside in Rents
- Qualified Opportunity Zone | Eligible for Federal Tax Incentive
Executive Summary
14623 Calvert Street presents a well-maintained multifamily asset with significant operational and financial upside. The property has undergone key capital improvements, including a completed earthquake retrofit, a new roof (2019), new rain gutters (2023), and updated electrical panels (2024), reducing near-term maintenance risk. The asset offers a compelling value-add opportunity with over 28% projected rental upside. It is individually metered for all utilities, minimizing landlord expenses to common area electricity only. Located within a Qualified Opportunity Zone, the property may provide attractive tax advantages. Additional upside exists through the potential development of up to three ADUs (buyer to verify).
Property Facts
| Price | $2,688,406 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $298,712 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.80% | Building Size | 6,644 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 89% |
| Gross Rent Multiplier | 10.79 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR3 - Residential | ||
| Price | $2,688,406 CAD |
| Price Per Unit | $298,712 CAD |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.79 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,644 SF |
| Average Occupancy | 89% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 1 |
| 1+1 | 2 | - | 1 |
| 2+1 | 4 | - | 1 |
| 3+1.5 | 1 | - | 1 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 2241-019-020 | Improvements Assessment | $336,798 CAD |
| Land Assessment | $208,805 CAD | Total Assessment | $545,603 CAD |
Property Taxes
Parcel Number
2241-019-020
Land Assessment
$208,805 CAD
Improvements Assessment
$336,798 CAD
Total Assessment
$545,603 CAD
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14623 Calvert St
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