8924 Van Nuys Boulevard

Panorama City, CA 91402

$3,165,000
Price
26
Beds
26
Baths
15,670 Sq. Ft.
$202 / Sq. Ft.
15,670
Sq. Ft.
$202
per Sq. Ft.

Description

This prime property boasts 18 well-appointed units, including 2 singles, 9 one-bedroom/one-bath, 4 two-bedroom/1.5-bath, 2 three-bedroom/two-bath, and 1 four-bedroom/2.5-bath units. Residents enjoy amenities, such as a refreshing swimming pool, convenient on-site laundry facilities, and secure on-site parking. Recently undergoing a soft story retrofit in 2021, this property offers a significant upside potential of approximately 83%, making it an ideal acquisition for savvy investors. Strategically...This prime property boasts 18 well-appointed units, including 2 singles, 9 one-bedroom/one-bath, 4 two-bedroom/1.5-bath, 2 three-bedroom/two-bath, and 1 four-bedroom/2.5-bath units. Residents enjoy amenities, such as a refreshing swimming pool, convenient on-site laundry facilities, and secure on-site parking. Recently undergoing a soft story retrofit in 2021, this property offers a significant upside potential of approximately 83%, making it an ideal acquisition for savvy investors. Strategically located on Van Nuys Blvd, just south of Nordhoff, the apartments boast a Walk Score of 78, enabling residents to accomplish most errands on foot. Proximity to major freeways (405, 5, and 118), hospitals (Kaiser Permanente), and schools (Vista Middle School, Chase Elementary, and James Monroe High School) further enhances its appeal. With the upcoming East San Fernando Valley Light Rail Transit Project, featuring 11 stations along a 6.7-mile stretch (most on Van Nuys Blvd), the property will be conveniently positioned within a short walking distance to one of the stops at Van Nuys Blvd and Nordhoff St. Don't miss this exceptional opportunity to invest in a prime asset with tremendous growth potential.
  1. Listed by Luis Morales • DRE #01485986 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 8924 Van Nuys Boulevard

Zoning
LAR3
Parcel Number
2639006037
Total Units
18.0
Living Area
15670
Source Living Area
Vendor Enhanced
Area
Panorama City (PC)
Vacancy Rate
0
Lot Size Area
14570
LISTING UPDATED: 12/02/2024 08:53 AM

Property Details for 8924 Van Nuys Boulevard

StatusPending
MLS #24-463353
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.33 AC / 14,570 SF
CountyLos Angeles County

Building Information for 8924 Van Nuys Boulevard

Stories2Residences-Year Built1960Building Size-Lot Size0.33 AC / 14,570 SF

Property Information for 8924 Van Nuys Boulevard

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: multifamily
Contract Info
Contract Info
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $281,677
  • Net Operating Income: $158,343.00
  • Gross Income: $290,389
  • Cap Rate: 5.00%
  • Gross Rent Multiplier: $10.90
  • Owner Pays: Water, Pool Service, Gardener
  • Total Annual Expense: 123335
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3345
  • Lot Size Square Feet: 14570
  • Lot Size Dimensions: 120x122
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 18
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-13-2024
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,133.00
  • Unit Actual Rent: $2,267.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,052.00
  • Unit Actual Rent: $9,475.00
  • Unit Projected Rent: $15,750.00
  • Like Units: 9
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,775.00
  • Unit Actual Rent: $7,100.00
  • Unit Projected Rent: $9,200.00
  • Like Units: 4
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,457.00
  • Unit Actual Rent: $2,914.00
  • Unit Projected Rent: $5,300.00
  • Like Units: 2
Unit 5 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $1,693.00
  • Unit Actual Rent: $1,693.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,562,640.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $2,343,960.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $3,906,600.00

Property History for 8924 Van Nuys Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 8924 Van Nuys Boulevard

Taxable ValueLand$2,390,839Additions$1,601,652Total$3,992,491
Tax Record2024$50,606 ($4,217 / month)
Home Facts
Total Finished SqFt15,670 SqFtAbove Grade Finished SqFt15,670 SqFtLot Size14,565 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLAR3CountyLOS ANGELESAPN2639-006-037

Schools near 8924 Van Nuys Boulevard

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
Public - 9 to 12
Rating
School
Distance
Chase Street Elementary School
PublicK to 5

Vista Middle School
Public6 to 8

Valley Academy Of Arts And Sciences
Public9 to 12

Northridge Academy High
Public9 to 12

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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Remax Commercial and Investment Realty, Luis Morales, DRE #01485986

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.