ONLY $191K/Unit – 110% Upside in Prime Van Nuys
Delivered with Vacant 3+2 — Ideal for Owner-User
Marketing description
Located at 14216 Calvert St, this multifamily asset is being offered off-market and confidentially at just $191,000 per unit, boasting a 10.86 GRM and a 5.25% Cap Rate, with approx. 110% upside based on current rents alone — not including the potential value-add of an additional ADU.
The property features a favorable unit mix of five (1+1) units and one large (3+2) unit, which the 3+2 is currently vacant. All one-bedroom units are eligible for conversion to two-bedrooms, with plans available from a mirror-image property next door. Currently units 1 & 2 are pro forma rents as the tenants in each unit have both been served their respective 3 day notices and are expected to vacate.
There’s also room to add a seventh unit (ADU) in the tuck-under parking area, with a plan to reconfigure parking to maintain compliance. Post-ADU addition, projected performance increases to a 9.01% Cap Rate.
Situated in a prime Van Nuys location, just steps from a major transit hub soon to expand into a regional connector via the upcoming East Valley Transit Line, this property is perfectly positioned to benefit from increasing tenant demand, urban transit expansion, and long-term neighborhood growth.
Estimated ARV (6% Cap): $2,200,000
Refi Potential After ADU/Upgrades: $1,500,000
Average Annual Cash Return (5-Year): ~28%
This is a rare chance to acquire a high-performing property with immediate rental upside, ADU potential, and transit-oriented growth in one of the Valley’s most dynamic rental markets.
Contact us today to request the OM or schedule a private tour.
**Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or [email protected]**
*Disclaimer:
The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.
Investment highlights
*Financial Metrics* - 5.25% Cap Rate, 10.86 GRM, 110% Upside. Potential to reach a 9.01% Cap Rate post-ADU addition. *Property Features* - All one bedrooms may be converted into two bedrooms. Two units are currently delinquent on rent and have been served 3-Day Notices. Buyer will assume responsibility for any eviction, providing the opportunity to convert and re-rent these units at higher market rates. Plans will be provided. *ADU Potential* - Add one ADU in the tuck-under parking area by restriping parking against the rear wall unlocking additional income and value. *Unit Mix* - 6 total units: 5 (1+1) and 1 (3+2) that is currently vacant. *Location Benefits* - Located less than half a mile from the current Orange Line Transit Stop and future Van Nuys East Valley Rail Line hub a major transit expansion linking the Valley with the greater LA region. *Walk Score* - Very Walkable 78 Walk Score. Most errands can be accomplished on foot. *Owner Occupy* - The spacious 3+2 unit is currently vacant, offering flexibility for owner-users or immediate lease-up for investors.
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