Modern Office/Flex Space
For Sale
Contact for pricing
Pending
14539 Erwin St, Los Angeles, CA 91411
Creative office/flex space near Van Nuys City Hall.
Property Size8,900 SF
Days on Market350
Property Features for 14539 Erwin St
General Information
Standard status
Pending
Size
8,900 SF
Class
B
Property subtype
Industrial, Mixed Use, Office
Zoning
LAC1.5
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$300,817
Building Details
Year Built
2002
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Del Rey Urban
Listed By:
Billie Jean Ford · License #01836793
Source:
Crexi
Added: Sep 2, 2025
Changed: Aug 15
Last Checked: Aug 17 at 11:16AM
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 Del Rey Urban
Investment Insights
Based on property information with market context.
This modern office/flex space building features gated parking and a ceiling height of 25 feet. It includes 10-foot roll-up doors that provide direct access to a private parking lot. Constructed in 2002, the well-maintained building is a short walk from Van Nuys City Hall, the courthouse, the metro station, restaurants, banks, retail shops, and offices. The property is conveniently located near the 405 and 101 freeways, just off Victory and Van Nuys Boulevard. The building consists of four units, totaling approximately 8730 square feet of usable space. It offers private, large, gated parking in the rear. Additional parking is available in an adjacent lot. The property is located off of Van Nuys Boulevard.
Key Highlights
- Modern office/flex space featuring 25 ft ceiling height and 10' roll‑up doors.
- Private, large, gated parking in rear of building.
- Excellent location near Van Nuys City Hall, courthouse, metro, restaurants, and retail.
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
$180,225
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
4.52%
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%
$3,604,500
$3.6M
Cap Rate 7%
$2,574,643
$2.6M
Cap Rate 9%
$2,002,500
$2.0M
Market Conditions
NOI Build-Up for 8,900 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
$320.4K $36.00/SF
− Vacancy
−$32.0K −$3.60/SF
EGI
$288.4K $32.40/SF
− OpEx
−$108.1K −$12.15/SF
NOI
$180.2K $20.25/SF
Area
Los Angeles, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,604,500
Cap Rate 7%
$2,574,643
Cap Rate 9%
$2,002,500
Alternative Uses
Best Use
Mixed Use
$2.57M
$2.25M – $3.00M
NOI $180,225 @ 7.0% cap · market cap 4.52%
Second Best
Industrial
$1.58M
$1.38M – $1.84M
NOI $110,561 @ 7.0% cap · market cap 2.77%
Theoretical Best
Multifamily LT 5
$180.31M
$157.77M – $210.36M
NOI $12,621,606 @ 7.0% cap · market cap 316.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,493
Businesses Nearby
Explore this area
Business Placement
Demographics for 91411, CA
24,984
Population
10,003
Households
2.5
Avg Household Size
36
Median Age
37%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
12,492
Density / Sq Mi
$77,582
Median Household Income
$42,096
Median Earnings
$1,850
Median Rent
$973,300
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Creative office/flex space near Van Nuys City Hall.
Where is this mixed-use property located?
The property is located at 14539 Erwin St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Modern office/flex space featuring 25 ft ceiling height and 10' roll‑up doors.; Private, large, gated parking in rear of building.; Excellent location near Van Nuys City Hall, courthouse, metro, restaurants, and retail.
