Van Nuys Apartment
For Sale
Contact for pricing
14109 Erwin Street, Van Nuys, CA 91401
7-unit apartment building in Van Nuys with recent upgrades.
Property Size5,200 SF
Lot Size0.14 Acres
Price / SF$250
Days on Market226
Property Features for 14109 Erwin Street
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.14 Acres
Property subtype
Multifamily
Zoning
Assessor
Net Operating Income
$68,244
Building Details
Year Built
1964
Buildings
1
Stories
2
Units
7
Listing Agency:
Equity Union
(818) 640-4360
Listed By:
Cindy Hill · License #CA 00885625
Source:
Crexi
Added: Jan 16
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Equity Union
Investment Insights
Based on property information with market context.
This 7-unit apartment building is located in Van Nuys. The property features a unit mix consisting of one studio, four one-bedroom, one-bathroom units, one two-bedroom, two-bathroom unit, and one three-bedroom, two-bathroom unit. Situated on a 6,252 square foot lot, the building offers a total of 5,200 rentable square feet. Seismic retrofit has been completed. The property includes a new roof installed in 2018, copper plumbing, and a new water heater. The upstairs balconies have been renovated. The location provides close access to the 405, 101, and 170 freeways. Ventura Boulevard, with its restaurants and shopping options, is located nearby. The Metro Link transportation service offers access to Sherman Oaks, Woodland Hills, Burbank, Hollywood, and downtown Los Angeles.
Key Highlights
- Excellent unit mix: (1) studio, (4) 1+1 units, (1) 2+2 unit, and (1) 3+2 unit.
- New roof (2018), copper plumbing, and new water heater.
- Seismic retrofit completed.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,672
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,673,440
$1.7M
Cap Rate 7%
$1,195,314
$1.2M
Cap Rate 9%
$929,689
$929.7K
Market Conditions
NOI Build-Up for 5,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$165.4K $31.80/SF
− Vacancy
−$13.2K −$2.54/SF
EGI
$152.1K $29.26/SF
− OpEx
−$68.5K −$13.17/SF
NOI
$83.7K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,673,440
Cap Rate 7%
$1,195,314
Cap Rate 9%
$929,689
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.39M
NOI $83,672 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.44M – $3.25M
NOI $194,884 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,417
Businesses Nearby
Explore this area
Business Placement
Demographics for 91401, CA
39,621
Population
15,785
Households
2.5
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
3.5 sq mi
ZIP Area
11,320
Density / Sq Mi
$75,933
Median Household Income
$40,119
Median Earnings
$1,800
Median Rent
$988,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 7-unit apartment building in Van Nuys with recent upgrades.
Where is this apartment building located?
The property is located at 14109 Erwin Street Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Excellent unit mix: (1) studio, (4) 1+1 units, (1) 2+2 unit, and (1) 3+2 unit.; New roof (2018), copper plumbing, and new water heater.; Seismic retrofit completed.
