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 Market57
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: Oct 12
Last Checked: Oct 12 at 11:49PM
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 / Yr
$48,025
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,343
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Multifamily in West region
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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
