Van Nuys Apartment
For Sale
$2,995,000
6649 N Sepulveda Blvd, Van Nuys, CA 91411
13-unit apartment building in Van Nuys, California.
Property Size10,480 SF
Days on Market166
Property Features for 6649 N Sepulveda Blvd
General Information
Standard status
Active
Size
10,480 SF
Property subtype
Multifamily
Occupancy
100%
Amenities
Good Mix
Interior Courtyard
Laundry Room
Approved Plans for 3 Accessory Dwelling Units (ADUs)
Building Details
Building Size
10,480 SF
Units
13
Listing Agency:
Encino Office
Listed By:
Gayle Factor · License #License(s): CA: 01066258
(818) 212-2756
Source:
Marcusmillichap
Added: Apr 3
Changed: Sep 7
Last Checked: Sep 15 at 4:19AM
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 Encino Office
Investment Insights
Based on property information with market context.
The subject property is a 13-unit apartment building constructed in 1954. It is situated on Sepulveda Boulevard in Van Nuys, California, north of Victory Boulevard and south of Vanowen Street. The unit mix includes one studio with one bathroom, eleven units with two bedrooms and one bathroom, and one unit with three bedrooms and one bathroom. The building features an interior courtyard and a laundry room. Approved plans for three accessory dwelling units (ADUs) will be provided to the buyer by the seller. These ADUs include one one-bedroom/one-bathroom unit and two two-bedroom/one-bathroom units.
Key Highlights
- Approved plans for 3 ADUs included (one 1‑bedroom/1‑bathroom and two 2‑bedroom/1‑bathroom).
- Consists of 13 units: one studio, eleven 2‑bedroom, and one 3‑bedroom.
- Features an interior courtyard.
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
$168,632
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
5.63%
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%
$3,372,640
$3.4M
Cap Rate 7%
$2,409,029
$2.4M
Cap Rate 9%
$1,873,689
$1.9M
Market Conditions
NOI Build-Up for 10,480 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
$333.3K $31.80/SF
− Vacancy
−$26.7K −$2.54/SF
EGI
$306.6K $29.26/SF
− OpEx
−$138.0K −$13.17/SF
NOI
$168.6K $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%
$3,372,640
Cap Rate 7%
$2,409,029
Cap Rate 9%
$1,873,689
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,632 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.61M
$4.91M – $6.55M
NOI $392,767 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,480
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - 13-unit apartment building in Van Nuys, California.
Where is this apartment building located?
The property is located at 6649 N Sepulveda Blvd Van Nuys, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Approved plans for **3 ADUs included** (one 1‑bedroom/1‑bathroom and two 2‑bedroom/1‑bathroom).; Consists of 13 units: one studio, eleven 2‑bedroom, and one 3‑bedroom.; Features an **interior courtyard**.
