14153 Victory Boulevard, Van Nuys, CA 91401
Sale Price $9,095,000
High Returns - Low Maintenance
5.02% Cap Rate
4% Cash On Cash (Current)
Excellent opportunity to purchase a 32 unit exquisitely rehabbed building in a location where rents have gone up 10% in one year likely due to the coming transit line.
Near the Upcoming Light-Rail Metro Line
Did you know that neighborhoods around Los Angeles are rejuvenating and achieving higher rents due to the newly built Metro Transit Stops? According to The Source, “some neighborhoods near Metro stations have changed considerably.” In fact, the value of properties as well as rents in the Valley are increasing rapidly. For instance, rents within a half mile from the recently approved light-rail metro stop at Victory/Van Nuys Blvd. have increased 10% over the last 12 months. This neighborhood is growing quickly, with a low year to date vacancy rate of 1.9% compared to Los Angeles' 3.6% and "the area’s population and number of jobs are expected to rise in the coming years."