14248 Gilmore Street

Van Nuys, CA 91401

$1,400,000
Price
9
Beds
7
Baths
4,931 Sq. Ft.
$284 / Sq. Ft.
4,931
Sq. Ft.
$284
per Sq. Ft.

Description

We are pleased to present 14248 Gilmore St, a 2-story, 7-unit, true value-add multi-family investment opportunity with approximately 66%+ rental upside potential, located in the highly desirable Van Nuys submarket of Los Angeles, just east of Van Nuys Boulevard and north of Victory Boulevard. Built in 1960, the building is comprised of 1 (2+1), 5 (1+1), and 1 single units that average approximately 704 gross square feet. The 4,931 square foot structure is situated on a 7,500 square foot, LA[Q]RD1.5-1...We are pleased to present 14248 Gilmore St, a 2-story, 7-unit, true value-add multi-family investment opportunity with approximately 66%+ rental upside potential, located in the highly desirable Van Nuys submarket of Los Angeles, just east of Van Nuys Boulevard and north of Victory Boulevard. Built in 1960, the building is comprised of 1 (2+1), 5 (1+1), and 1 single units that average approximately 704 gross square feet. The 4,931 square foot structure is situated on a 7,500 square foot, LA[Q]RD1.5-1 zoned lot that includes 11 parking spaces. The property features spacious units with lots of natural light. Select units boast new flooring, fresh paint, wall AC units in living rooms, large mirrored closets in bedrooms, updated kitchens with new stoves, and dining areas are adjacent to the kitchens. The building is separately metered for gas & electric and provides tenants with assigned parking, on-site laundry, and included water and trash services. With a great WalkScore of 85, the property's central Van Nuys location offers residents easy access to countless shopping, dining, public parks, and recreation options in Van Nuys, Sherman Oaks, Lake Balboa, and Panorama City. The Sepulveda Recreation Area, which is home to Balboa Golf Course, Sepulveda Sports Complex, The Japanese Garden, and Lake Balboa, is 1.8 miles to the west. The 405 Freeway is 1.7 miles to the west of the property, and the 101 Freeway is 2.3 miles to the south. The 170 Freeway is only 2.4 miles to the east, the 5 Freeway 5.6 miles to the northeast, and the 118 Freeway can be accessed 7.2 miles to the north. The Metro G Line (Orange) Busway, which runs almost the length of the entire San Fernando Valley and connects to the Metro Red Line to Downtown Los Angeles, can be accessed at the Van Nuys Metro G Line (Orange) Station, only 0.7 miles to the south. The East San Fernando Valley Light Rail Transit Project, currently under development, will significantly enhance the connectivity and transportation options for residents. This 9.2-mile light rail project will improve connections and access to key destinations while reducing congestion and fostering economic growth along the route.14248 Gilmore St is well-positioned for a skilled value-add investor, with the building's front garages presenting a prime ADU conversion opportunity, and a higher-end renovation program would optimize market rents, appreciation, and future returns. The property's premium location near transportation, grocery stores, restaurants, and shops makes it an attractive investment in the vibrant Van Nuys neighborhood submarket.
  1. Listed by Matthew R. Kanner • DRE #01349203 • Brokerage DRE #01269474 • Keller Williams Realty Los Feliz

Property Details for 14248 Gilmore Street

Zoning
LARD1.5
Parcel Number
2237020003
Total Units
7.0
Living Area
4931
Source Living Area
Assessor
Area
East Van Nuys
Vacancy Rate
None
Lot Size Area
7500
LISTING UPDATED: 12/02/2024 09:52 AM

Property Details for 14248 Gilmore Street

StatusActive
MLS #24-407107
Days on Market176
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.17 AC / 7,500 SF
CountyLos Angeles County

Building Information for 14248 Gilmore Street

Stories2Residences-Year Built1960Building Size-Lot Size0.17 AC / 7,500 SF

Property Information for 14248 Gilmore Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 3
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $108,388
  • Net Operating Income: $58,234.00
  • Gross Income: $111,717
  • Gross Rent Multiplier: $12.53
  • Total Annual Expense: 50154
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1722
  • Lot Size Square Feet: 7500
  • Lot Size Dimensions: 50x150
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Carport, Garage - 1 Car, Garage - 2 Car
  • Total Parking: 11
  • Covered Parking: 5
  • Open Other Spaces Total: 6
  • Garage Spaces Total: 3
  • Carport Spaces Total: 2
  • Parking Features: Assigned, Carport, Garage - Single Door, Garage - Two Door
  • Garage Structures Total: 2.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Air Conditioning, Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-24-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $913.00
  • Unit Actual Rent: $913.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,357.00
  • Unit Actual Rent: $6,785.00
  • Unit Projected Rent: $11,000.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,549.00
  • Unit Actual Rent: $1,549.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $178,901.00
  • Assessed Improvement Percent: 42.0
  • Assessed Land Value: $247,057.00
  • Assessed Land Percent: 58
  • Assessed Total Value: $425,958.00

Property History for 14248 Gilmore Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 14248 Gilmore Street

Taxable ValueLand$251,998Additions$185,879Total$437,877
Tax Record2024$6,344 ($529 / month)
Home Facts
Total Finished SqFt4,931 SqFtAbove Grade Finished SqFt4,931 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLARD1.5CountyLOS ANGELESAPN2237-020-003

Schools near 14248 Gilmore Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Van Nuys Elementary School
PublicK to 5

Van Nuys Middle School
Public6 to 8

Van Nuys Senior High School
Public9 to 12

Ararat Charter School
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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14248 Gilmore Street is a multi-family home for sale in Van Nuys, CA 91401. This property was listed for sale on June 24, 2024 by Keller Williams Realty Los Feliz, it's currently listed at $1,400,000. It has been on the market for a total of 176 days and was last sold on August 3, 2001. This listing's school district is Los Angeles Unified School District. Nearby schools include Van Nuys Elementary School, Van Nuys Middle School and Van Nuys Senior High School. 14248 Gilmore Street is a 9-bed, 7-bath, 4,931 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.