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7454 Haskell Ave
Van Nuys, CA 91406
Mostly 2 & 3 BRs | 5.28% CAP & 11.7 GRM · Multifamily Property For Sale
·
13 Units
Investment Highlights
- Excellent Unit Mix – Nearly 85% of Units Contain Two or Three Bedrooms
- Spacious Floorplans – 12,568 Square Feet Spread Over 13 Units
- Full Copper Plumbing, Almost All New Windows
- Attractively Priced at an 11.76 GRM and 5.28% CAP Rate Based on In-Place Income
- Potential to Both Add ADUs and Avoid Seismic Retrofit Costs (Buyer to Verify)
- All Unit Interiors Renovated with Decorative Tile Flooring, Granite Countertops, Updated Bathrooms
Executive Summary
Marcus & Millichap is pleased to announce the opportunity to purchase 7454 Haskell Avenue, a 13-unit multifamily property located in the Lake Balboa neighborhood of Van Nuys, CA. Featuring spacious floorplans and a unit mix that contains nearly all two- and three-bedroom apartments, the property spans 12,568 gross square feet. The building occupies a corner lot near the intersection of Sherman Way and Haskell Avenue.
The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms.
The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.
The current owner has installed full copper plumbing, replaced nearly every window in the building, and upgraded the main electric panel. A new investor may be able to use existing permits to complete two ADUs, which may also remove the need for any seismic retrofit repairs (Buyer to verify). Every unit interior has been renovated with decorative tile flooring, granite countertops, and remodeled bathrooms.
The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.
Property Facts
| Price Per Unit | $366,186 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 5.28% | Building Size | 12,568 SF |
| Gross Rent Multiplier | 11.76 | No. Stories | 2 |
| No. Units | 13 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.27/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3-1, Los Angeles - restricted Density Multiple Dwelling | ||
| Price Per Unit | $366,186 CAD |
| Sale Type | Investment |
| Cap Rate | 5.28% |
| Gross Rent Multiplier | 11.76 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 12,568 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3-1, Los Angeles - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Granite Countertops
- Hardwood Floors
- Walk-In Closets
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,850 CAD | 600 |
| 2+1 | 1 | $2,381 CAD | 930 |
| 2+2 | 8 | $2,544 CAD | 975 - 1,000 |
| 3+2 | 1 | $2,707 CAD | 1,025 |
| 3+3 | 1 | $3,592 CAD | 1,050 |
Property Taxes
| Parcel Number | 2206-028-013 | Improvements Assessment | $739,847 CAD |
| Land Assessment | $407,743 CAD | Total Assessment | $1,147,590 CAD |
Property Taxes
Parcel Number
2206-028-013
Land Assessment
$407,743 CAD
Improvements Assessment
$739,847 CAD
Total Assessment
$1,147,590 CAD
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