Listed by Marcus & Millichap - Los Angeles
$11,500,000
14629-31 ERWIN ST
Details
APN 2241-011-078
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,115
Units 22
Cap Rate 5.01%
NOI $575,796
Price per SqFt $477
Year Built 2025
Buildings 1
Stories 4
Lot Size (SqFt) 14,009
Zoning LAR3
Parking Spaces 27 spaces
Parking Per SqFt 1.12
Ownership Fee Simple
Multifamily | 22 Units | $522,727/unit
Marketing description
The Azzi Group of Marcus and Millichap is pleased to present the opportunity to acquire 14629-31 Erwin St, a 22- unit investment opportunity located in Van Nuys, CA 91411.
14629-31 Erwin St is strategically located on the cusp of three unique neighborhoods that have emerged as some of Los Angeles’
hippest areas allowing residents to enjoy trendy nightlife, a plethora of culinary hot spots, and other entertainment options.
Investment highlights
- Opportunity Zone Tax Advantage – The property is located within a designated Opportunity Zone and offers potential property tax benefits for investors who close prior to Certificate of Occupancy issuance—providing a unique chance to capture meaningful tax savings while securing a newly delivered asset in a high-growth submarket.
- Attractive San Fernando Valley Location – Positioned in Van Nuys near Sherman Oaks and North Hollywood, providing access to major job hubs, retail corridors, and transit.
- Strong Rental Demand – Consistently low vacancy in the submarket with steady tenant base; opportunity to achieve market rents with professional management.
- Stable Cash Flow – Multifamily properties in this pocket deliver predictable income with cap rates in the 4.5%–5.5% range depending on operations.
- On-Site Fitness Center – Amenity for tenants that enhances quality of living and supports strong tenant retention.
- 27 Gated Parking Spaces – Secure, dedicated parking adds value for residents and increases overall property desirability.
Listing Contacts
Listed by Marcus & Millichap - Los Angeles
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$575,796.00
$47,983.00/mo
Valuation Metrics
0
DSCR
5.01%
Cap Rate
5.01%
ROI
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