We are proud to present 13915 Sherman Way, a 15-unit townhouse-style multifamily property on Van Nuys's Sherman Way transit corridor. Built 1989, the property comprises 12 two-bedroom/2.5-bath townhomes and three one-bedroom flats across 16,144 SF on a 13,998 SF lot. Two-story wood frame with individually metered gas and electric, a… Read More community pool, on-site laundry, and 28 surface parking spaces. The property is RSO-exempt and subject only to AB 1482.The investment case is near-term rent capture with no capital requirement. Current gross scheduled rent of $372,828 grows to $460,800 at pro forma market rents of $2,650 TH / $2,200 flat approximately 23.6% upside. Two legacy tenants sit at $1,184/month, most leases are month-to-month, and no permits have been pulled since 2006. Townhome format commands $100$200/month premiums over valley flats.First offering in 30-plus years positions the deal for 1031 buyers, family offices, and value-add operators. Van Nuys submarket vacancy runs 4.7%, below the 5.3% LA metro average, and the 633-unit construction pipeline is concentrated in Class A that does not competewith the subject. The planned East SFV Light Rail station sits 0.5 miles east, opening 2031. TOC Tier 1 designation adds entitlement optionality for a long-term hold. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
54
Last Updated
Property Type
Other
Beds
27
Square Ft.
16,144
Lot Size
0.32 Acres
Year Built
1989
MLS Number
26776423
30 Days Snapshot Of 91405
$938k
+2%
(avg) sold price
3
-25%
homes sold
47
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
16,144 sq ft, Built in 1989, Levels: Two
Cooling
Wall Unit(s)
Disclosures
As Is
Garage
Gated
Lot
LotAcreage: 0.3214, LotSizeArea: 14,002
Parking
TotalParking: 28
Property
NumberOfUnits: 15, Zoning: LAR3
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