17-Unit Multifamily
6902 Vesper Van Nuys, CA 91405
6902 Vesper, Van Nuys, CA, 91405
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For Sale
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Seventeen-unit multifamily built in 1971, with completed retrofitting and recent painting per ownership.
Property Size13,122 SF
Lot Size0.31 Acres
Price / SF$227.48
Days on Market113
Property Features for 6902 Vesper
General Information
- Standard status
- Active
- Size
- 13,122 SF
- Lot size
- 0.31 Acres
- Property subtype
- Multifamily
Listing agency
RE/MAX TriCity Realty
Listed by
arthur mangassarian · License #CA 000751703
Source
Crexi
Added: Apr 1 Updated: Jul 22 at 8:44AM Checked: Jul 22 at 8:44AM
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 RE/MAX TriCity Realty
Investment Insights
Based on property information with market context.
The property is a 17-unit multifamily asset originally built in 1971. Per ownership, retrofitting has been completed and the property has recently been painted, providing an updated foundation for the current configuration.
The unit mix includes 11 one-bedroom units and six two-bedroom, two-bath units. Ownership notes the six larger units were created by combining pairs of one-bedroom units, with the secondary kitchens remaining in place and currently used as storage or additional sleeping areas.
Located on a quiet, tree-lined residential street just blocks from Van Nuys Boulevard, the property is positioned near major transportation corridors, public transit, shopping, and civic amenities throughout central Van Nuys. Based on the existing setup, ownership also indicates potential for a future owner to re-separate the combined units and explore additional unit creation, along with possible ADU opportunities.
The unit mix includes 11 one-bedroom units and six two-bedroom, two-bath units. Ownership notes the six larger units were created by combining pairs of one-bedroom units, with the secondary kitchens remaining in place and currently used as storage or additional sleeping areas.
Located on a quiet, tree-lined residential street just blocks from Van Nuys Boulevard, the property is positioned near major transportation corridors, public transit, shopping, and civic amenities throughout central Van Nuys. Based on the existing setup, ownership also indicates potential for a future owner to re-separate the combined units and explore additional unit creation, along with possible ADU opportunities.
Key Highlights
- 17‑unit multifamily property built in 1971 with approximately 13,122 sq ft of improvements.
- Located on a 13,499 sq ft lot in central Van Nuys, on a quiet, tree‑lined residential street.
- Unit mix includes 11 one‑bedroom units and six 2‑bedroom, 2‑bath units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $417.3k | $31.80 |
| − Vacancy | −$33.4k | −$2.54 |
| EGI | $383.9k | $29.26 |
| − OpEx | −$172.8k | −$13.17 |
| NOI | $211.1k | $16.09 |
13,122 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.02M
$2.64M – $3.52M
NOI $211,143 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.03M
$6.15M – $8.20M
NOI $491,783 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seventeen-unit multifamily built in 1971, with completed retrofitting and recent painting per ownership.
Where is this apartment building located?
The property is located at 6902 Vesper Van Nuys, CA.
What is the asking price?
The asking price for this property is $2,985,000.
What are key features of this property?
This property features: 17‑unit multifamily property built in 1971 with approximately 13,122 sq ft of improvements.; Located on a 13,499 sq ft lot in central Van Nuys, on a quiet, tree‑lined residential street.; Unit mix includes 11 one‑bedroom units and six 2‑bedroom, 2‑bath units.
