9-Unit Apartment
For Sale
Contact for pricing
Pending
15919 Vanowen Street, Van Nuys, CA 91406
LAR3-zoned multifamily property with nine residential units.
Property Size6,450 SF
Days on Market163
Property Features for 15919 Vanowen Street
General Information
Standard status
Pending
Size
6,450 SF
Property subtype
Multifamily
Zoning
Assessor
Net Operating Income
$91,681
Additional Details
Multifamily Units
9
Building Details
Year Built
1962
Buildings
1
Stories
2
Units
9
Listing Agency:
Equity Union
Listed By:
Cindy Hill · License #CA 00885625
(818) 640-4360
Source:
Crexi
Added: Mar 25
Changed: Sep 2
Last Checked: Sep 1 at 11:05PM
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 Equity Union
Investment Insights
Based on property information with market context.
This apartment property contains nine residential units within 6,450 square feet of building area. Constructed in 1962, the asset is classified under LAR3 zoning.
The property is located at 15919 Vanowen St in Los Angeles, California, with a 91406 ZIP code. Its apartment-building configuration and unit count provide a clearly defined multifamily asset profile.
The property is located at 15919 Vanowen St in Los Angeles, California, with a 91406 ZIP code. Its apartment-building configuration and unit count provide a clearly defined multifamily asset profile.
Key Highlights
- Nine‑unit apartment property
- 6,450 square feet of building area
- LAR3 zoning
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
$103,786
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
5.77%
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%
$2,075,720
$2.1M
Cap Rate 7%
$1,482,657
$1.5M
Cap Rate 9%
$1,153,178
$1.2M
Market Conditions
NOI Build-Up for 6,450 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
$205.1K $31.80/SF
− Vacancy
−$16.4K −$2.54/SF
EGI
$188.7K $29.26/SF
− OpEx
−$84.9K −$13.17/SF
NOI
$103.8K $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 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%
$2,075,720
Cap Rate 7%
$1,482,657
Cap Rate 9%
$1,153,178
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,786 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,731 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 91406, CA
53,252
Population
19,650
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
77%
High-School Grad
8.1 sq mi
ZIP Area
6,574
Density / Sq Mi
$76,653
Median Household Income
$41,469
Median Earnings
$1,859
Median Rent
$765,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - LAR3-zoned multifamily property with nine residential units.
Where is this apartment building located?
The property is located at 15919 Vanowen Street Van Nuys, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Nine‑unit apartment property; 6,450 square feet of building area; LAR3 zoning
