Cap Rate 4.22%
Price Per SF $287
Price Per Unit $214,375
Gross Sq. Footage 5,967 SF
Year Built 1963
14154 Erwin Street was built in 1963 and show beautifully, it is apparent that there has been constant upkeep to the building to keep it in excellent condition. The property has private parking, individual entryways, electronic gate, on-site laundry, as well as other amenities.
The property is an ideal unit mix for the neighborhood, consisting of four 1bed 1bath units and four 2bed 1bath units. Four of the units are updated, and the property has about 25%+ upside in rental income.
This centrally located asset has proximity to major employment centers, shopping, dining, and transport. Given upward employment trends and continued desire to live in Van Nuys, the runway for future growth is expected to be long. A vigilant investor who can keep up with rental increases in the units will see tremendous increases in rental rates.