14153 Victory Boulevard, Van Nuys, CA 91401
32 Units
Sale Price $9,095,000
Property Highlights
High Returns - Low Maintenance
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13.52 GRM
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5.02% Cap Rate
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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."
CO-LISTED WITH
David J. Harrington
EVP & National Director | Matthews Multifamily Advisors
Direct +1 310 295 1170 | Mobile +1 310 497 5590
Main +1 866 889 0550 | Fax +1 310 388 0788
License No. BRE 01320460
John N. Boyett
Associate – Multifamily Specialist | Matthews Multifamily Advisors
Direct +1 818 923 6226 | Mobile +1 707 815 7472
Fax +1 818 337 2216
john.boyett@matthews.com
License No. BRE 02056759
Daniel W. Withers
Senior Vice President | Matthews Multifamily Advisors
Direct +1 818 923 6107 | Mobile +1 310 365 5054
Main +1 866 889 0550 | Fax +1 818 337 2216
daniel.withers@matthews.com
License No. BRE 01325901
Julia Dardick
Sales Operations | Matthews Real Estate Investment Services
Direct +1 310 955 1775 | Mobile +1 818 268 3933
Main +1 866 889 0550 | Fax +1 310 388 0788
julia.dardick@matthews.com
License No. BRE 01944942
