17463 VANOWEN Street, Van Nuys, CA 91406

Sold Price
List Price
Closing Date
May 14, 2018
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Property Description

We are pleased to announce the sale of 17463 Vanowen Street in the San Fernando Valley. Containing 14 apartment units, the property sits within the desirable Lake Balboa neighborhood of Van Nuys, just north of Encino and Lake Balboa Park near the intersection of White Oak Avenue and Vanowen Street. With excellent visibility on a corner lot along Vanowen Street, the property provides a new owner the opportunity to steadily improve cash flow by eventually capturing the approximately 54% rent upside.Compared to similar multifamily properties that have sold within the past year, 17463 Vanowen Street compares favorably with an attractive price per unit and price per square foot, listed at only $198,214 and $206, respectively. Rent growth has been steady in Lake Balboa, one of the more desirable neighborhoods of Van Nuys, near the Encino border. During 2017, average effective rents have increased by 2.4%.

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Listing courtesy of Roderick "Rick" Raymundo from Marcus & Millichap

Listing courtesy of Roderick "Rick" Raymundo from Marcus & Millichap

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.