Multifamily Property with ADU
For Sale
Contact for pricing
14216 Calvert St, Van Nuys, CA 91401
Multifamily property in Van Nuys with significant upside potential.
Property Size6,250 SF
Price / SF$184
Days on Market445
Property Features for 14216 Calvert St
General Information
Standard status
Active
Size
6,250 SF
Property subtype
Multifamily
Building Details
Year Built
1957
Units
6
Listing Agency:
Houze Real Estate Mgmt & Development
(310) 836-3638
Listed By:
Kelly Morgan · License #01898026
Source:
Crexi
Added: May 29, 2025
Changed: Aug 8
Last Checked: Aug 13 at 5:22AM
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 Houze Real Estate Mgmt & Development
Investment Insights
Based on property information with market context.
Located at 14216 Calvert St, this multifamily property features a unit mix of five (1+1) units and one (3+2) unit. The 3+2 unit is currently vacant. All one-bedroom units are eligible for conversion to two-bedrooms, with plans available from a mirror-image property next door. There is room to add a seventh unit (ADU) in the tuck-under parking area, with a plan to reconfigure parking to maintain compliance. The property is situated in a prime Van Nuys location, steps from a major transit hub soon to expand into a regional connector via the upcoming East Valley Transit Line. Units 1 & 2 are pro forma rents as the tenants in each unit have both been served their respective 3 day notices and are expected to vacate. The property is positioned to benefit from increasing tenant demand, urban transit expansion, and long-term neighborhood growth. The property size is 6,250 square feet.
Key Highlights
- Significant rental upside potential with immediate increases possible upon tenant turnover.
- Opportunity to add an ADU in the tuck‑under parking area, increasing the Cap Rate to a projected 9.01%.
- Prime Van Nuys location near a major transit hub, benefiting from increasing tenant demand.
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
$100,568
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
8.75%
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%
$2,011,360
$2.0M
Cap Rate 7%
$1,436,686
$1.4M
Cap Rate 9%
$1,117,422
$1.1M
Market Conditions
NOI Build-Up for 6,250 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
$198.8K $31.80/SF
− Vacancy
−$15.9K −$2.54/SF
EGI
$182.9K $29.26/SF
− OpEx
−$82.3K −$13.17/SF
NOI
$100.6K $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%
$2,011,360
Cap Rate 7%
$1,436,686
Cap Rate 9%
$1,117,422
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,568 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.90M
NOI $234,236 @ 7.0% cap · market cap 20.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,601
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 - Multifamily property in Van Nuys with significant upside potential.
Where is this apartment building located?
The property is located at 14216 Calvert St Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Significant rental upside potential with immediate increases possible upon tenant turnover.; Opportunity to add an ADU in the tuck‑under parking area, increasing the Cap Rate to a projected 9.01%.; Prime Van Nuys location near a major transit hub, benefiting from increasing tenant demand.
