Maintained Four-Unit
For Sale
$1,150,000
15816 Sherman Way, Van Nuys, CA 91496
Income property with four garages, updated plumbing, and varied cooling systems across the units.
Property Size2,750 SF
Days on Market12
Property Features for 15816 Sherman Way
General Information
Standard status
Active
Size
2,750 SF
Total Parking Spaces
4
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Amenities
central air conditioning
wall A.C. units
tankless water heater
Building Details
Building Size
2,750 SF
Year Built
1962
Listing Agency:
DISCOUNT REALTY
Listed By:
Robert Bernal · License #00932992
Source:
Frontgaterealestate
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 8:49PM
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 DISCOUNT REALTY
Investment Insights
Based on property information with market context.
This quadplex contains four maintained residential units and four garages. The main residence includes central air conditioning, a recently installed roof, and one additional bedroom converted without permits. The other three units are equipped with wall-mounted air-conditioning units. A tankless water heater has also been installed, and copper plumbing was recently added, per the owner.
The property is located on Sherman Way in Van Nuys, with access to schools, restaurants, shopping centers, and public transportation. Regional connections include the 405, 101, and 170 freeways. Built in 1962, the property combines a four-unit configuration with multiple garage spaces and a mix of central and wall-unit cooling.
The property is located on Sherman Way in Van Nuys, with access to schools, restaurants, shopping centers, and public transportation. Regional connections include the 405, 101, and 170 freeways. Built in 1962, the property combines a four-unit configuration with multiple garage spaces and a mix of central and wall-unit cooling.
Key Highlights
- Four residential units with four garages
- Recently installed copper plumbing, per owner
- Main house roof recently installed, per owner
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
$48,025
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
4.18%
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%
$960,500
$960.5K
Cap Rate 7%
$686,071
$686.1K
Cap Rate 9%
$533,611
$533.6K
Market Conditions
NOI Build-Up for 2,750 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
$74.3K $27.00/SF
− Vacancy
−$5.6K −$2.05/SF
EGI
$68.6K $24.95/SF
− OpEx
−$20.6K −$7.48/SF
NOI
$48.0K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$960,500
Cap Rate 7%
$686,071
Cap Rate 9%
$533,611
Alternative Uses
Best Use
Multifamily LT 5
$686.1K
$600.3K – $800.4K
NOI $48,025 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$632.1K
$553.1K – $737.5K
NOI $44,250 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,064 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,343
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Income property with four garages, updated plumbing, and varied cooling systems across the units.
Where is this quadplex located?
The property is located at 15816 Sherman Way 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: Four residential units with four garages; Recently installed copper plumbing, per owner; Main house roof recently installed, per owner
