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]**
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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