17-Unit Apartment
14553 Hartland St, Los Angeles, CA 91405
For Sale
$3,395,000
Two adjacent fee-simple parcels offer gated access, on-site laundry, and a mix of one- and two-bedroom residences.
Property Size12,241 SF
Lot Size0.39 Acres
Price / SF$277.35
Days on Market50
Property Features for 14553 Hartland St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Amenities
on-site laundry
gated entry
Two-parcel, 17-unit multifamily investment opportunity in the heart of Van Nuys, consisting of a 12-unit property at 14553 Hartland Street and a 5-unit property at 6840-6848 Vesper Avenue.
Efficient unit mix: (11) 1 Bed / 1 Bath units, (4) 2 Bed / 2 Bath units, (1) 2 Bed / 1 Bath unit and (1) detached 2 Bed / 1 Bath SFR.
Completed seismic retrofit with Certificate of Compliance issued March 18, 2022.
Tenants are responsible for electricity and gas, helping reduce owner-paid utility exposure.
On-site laundry facilities provide additional income, while secure gated entry and on-site parking enhance tenant convenience and security.
Centrally located within the San Fernando Valley with convenient access to Van Nuys Airport, NoHo West, Costco, 99 Ranch Market, Lake Balboa Park and major regional freeways including the 101, 170 and 405.
Surrounded by major San Fernando Valley employment, retail and entertainment destinations with convenient connectivity to Sherman Oaks, North Hollywood, Lake Balboa and other major Valley submarkets.
Building Details
Building Size
Units
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Tony Azzi
(310) 909-5454
Source:
Marcusmillichap
Added: Sep 26
Changed: Oct 26
Last Checked: Nov 12 at 4:15AM
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 Marcus & Millichap - Los Angeles
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 17-unit apartment portfolio spans two adjacent fee-simple parcels with approximately 12,241 SF of building area on 16,780 SF of land. The unit mix includes 11 one-bedroom units, four two-bedroom, two-bath units, one two-bedroom, one-bath unit, and a detached two-bedroom, one-bath residence. Property features include 14 parking spaces, on-site laundry, gated entry, and a completed seismic retrofit. Tenants pay electricity and gas.
The properties are in Van Nuys, California, at 14553 Hartland Street and 6840 Vesper Avenue.
The properties are in Van Nuys, California, at 14553 Hartland Street and 6840 Vesper Avenue.
Key Highlights
- 17 units across two adjacent fee‑simple parcels
- Approximately 12,241 SF of building area on 16,780 SF of land
- Unit mix includes 11 one‑bedroom units and six two‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$196,967
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,939,340
$3.9M
Cap Rate 7%
$2,813,814
$2.8M
Cap Rate 9%
$2,188,522
$2.2M
Market Conditions
NOI Build-Up for 12,241 SF
Gross rent
$389.3K $31.80/SF
− Vacancy
−$31.1K −$2.54/SF
EGI
$358.1K $29.26/SF
− OpEx
−$161.2K −$13.17/SF
NOI
$197.0K $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 Rate 5%
$3,939,340
Cap Rate 7%
$2,813,814
Cap Rate 9%
$2,188,522
Alternative Uses
Best Use
Apartment 5plus
$2.81M
$2.46M – $3.28M
NOI $196,967 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,754 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
2,712
Businesses Nearby
Explore this area
Business Placement
Demographics for 91405, CA
55,319
Population
19,822
Households
2.8
Avg Household Size
36
Median Age
26%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
16,270
Density / Sq Mi
$61,207
Median Household Income
$34,833
Median Earnings
$1,736
Median Rent
$698,100
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent fee-simple parcels offer gated access, on-site laundry, and a mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 14553 Hartland St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,395,000.
What are key features of this property?
This property features: 17 units across two adjacent fee‑simple parcels; Approximately 12,241 SF of building area on 16,780 SF of land; Unit mix includes 11 one‑bedroom units and six two‑bedroom units
