Property Description

We are proud to present this brand new building located at 14019 Vanowen Street in Van Nuys, California. The property sits on 7,009 square feet of land with 7,841 square feet of building area and consists of all townhouse style units with the following unit mix: (1) - 2 bed / 2.5 bath, (1) - 3 bed / 3 bath, (1) -3 bed / 3.5 bath, (1) - 4 bed / 3 bath, and (1)- 4 bed / 3.5 bath units, with the smallest unit being 1,120 sf, largest being 2,027, and an average square footage of 1,621 ft. Furthermore, each unit gets their own private garage parking. The Seller received his Certificate of Occupancy earlier this year and recently completed the lease up all of the units. This building is now 100% occupied. In order to lease up the building quicker, the Seller rented these out slightly below market rents, therefore we are projecting an additional 7.2% upside in rents for the Buyer.