Multifamily Property with ADU Potential

14216 Calvert St, Van Nuys, CA 91401

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Multifamily property in Van Nuys with significant upside potential.

Type:Multifamily

Property size:

6,250 SF

Price / SF:

$184/SF

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.
Favorable unit mix including a large (3+2) unit, plus five (1+1) units with the potential to convert the one‑bedroom units into two‑bedroom units using existing plans.
Attractive investment metrics: $191,000 per unit, 10.86 GRM, and a 5.25% Cap Rate, with an estimated ARV (6% Cap) of $2,200,000.
High average annual cash return (5‑Year) of approximately 28%.

We can help!

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Kelly Morgan

For Sale

Contact for pricing

Multifamily property in Van Nuys with significant upside potential.

Type:Multifamily

Property size:

6,250 SF

Price / SF:

$184/SF

Added:: May 29, 2025
Days on Market:: 399
Last Refresh:: Mar 17 at 1:18 pm

Property Features for 14216 Calvert St

General Information

Standard status: Active
Size: 6,250 SF
Property subtype: Multifamily

Building Details

Year Built: 1957

We can help!

Contact an agent

Kelly Morgan

Listing office Houze Real Estate Mgmt & Development

Listing date May 29, 2025

Source Crexi

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

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.
Favorable unit mix including a large (3+2) unit, plus five (1+1) units with the potential to convert the one‑bedroom units into two‑bedroom units using existing plans.
Attractive investment metrics: $191,000 per unit, 10.86 GRM, and a 5.25% Cap Rate, with an estimated ARV (6% Cap) of $2,200,000.
High average annual cash return (5‑Year) of approximately 28%.

Overview

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.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$198.8k	$31.80
− Vacancy	−$15.9k	−$2.54
EGI	$182.9k	$29.26
− OpEx	−$82.3k	−$13.17
NOI	$100.6k	$16.09

6,250 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.44M

$1.26M – $1.68M (±1% cap)

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 (±1% cap)

NOI $234,236 @ 7.0% cap · market cap 20.37%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Van Nuys
County: Los Angeles
State: California
Longitude: -118.4427749
Latitude: 34.181551

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For sale
Apartment buildings
CA
Van Nuys
91401
14216 Calvert St

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.