13915 Sherman WAY, Van Nuys, CA 91405
13915 Sherman WAY, Van Nuys, CA 91405
13915 Sherman WAY, Van Nuys, CA 91405
6
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$3,950,000
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27 Beds
33 Baths
16,144 SqFt
New

13915 Sherman WAY Van Nuys, CA 91405

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Patrick Fossati

Patrick Fossati

+1(805) 910-0463

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 16,144 sqft

Price per Sqft $244

MLS Listing ID 26776423

Bedrooms 27

HOA Y/N No

Year Built 1989

Lot Size 0.321 Acres

Property Description

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 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.

Location

State CA

County Los Angeles

Area Vn - Van Nuys

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features Gated

Total Parking Spaces 28

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2216005004

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Filip Niculete Marcus & Millichap #01905352

NEARBY SCHOOL & BUSINESS

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Patrick Fossati

Patrick Fossati

Broker Associate | License ID: 01907255

+1(805) 910-0463

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