14115 Gilmore St Los Angeles, CA 91401

Property Details for 14115 Gilmore St

Year built

1954

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 12-unit apartment building located in Van Nuys, California, at 14115-14119 Gilmore St. The property boasts a total of 7,944 rentable square feet situated on a generous 14,990 square foot lot. Comprising two buildings, one constructed in 1954 and the other in 1956, the property features a desirable unit mix of ten 1-bedroom, 1-bathroom units and two 2-bedroom, 1-bathroom units. Currently generating a Net Operating Income (NOI) of $113,333, resulting in a 5.06% capitalization rate, the property offers significant upside potential. A pro-forma NOI of $210,492 projects a compelling 9.40% capitalization rate, highlighting the substantial rental growth opportunities. The property is zoned LAR3 and benefits from its prime location, offering convenient access to major freeways (405, 101, and 170), Ventura Boulevard's vibrant retail scene, and the Metro Link transportation system, providing easy access to surrounding areas including Sherman Oaks, Woodland Hills, Burbank, Hollywood, and Downtown Los Angeles. This well-maintained property, rarely available, presents a unique chance to acquire a stable income-generating asset with considerable potential for value appreciation. The asking price is $2,240,000. The property's APN is 2237-018-016.