Listed by Investment Real Estate Associates
$1,850,000
14623 Calvert St
Details
APN 2241-019-020
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,644
Units 9
Cap Rate 5.82%
NOI $107,596
Occupancy 89%
Pro-Forma Cap Rate 8.83%
Pro-Forma NOI $163,441
Price per SqFt $278
Year Built 1964
Stories 2
Lot Size (SqFt) 7,502
Zoning LAR3
Parking Spaces 12 spaces
Parking Per SqFt 1.81
Investment Type Value Add
Price Reduced $100K | 9 Units in Van Nuys | 33% Upside
Marketing description
14623 Calvert Street presents a well-maintained multifamily asset with significant operational and financial upside. The property has undergone key capital improvements, including a completed earthquake retrofit, a new roof (2019), new rain gutters (2023), and updated electrical panels (2024), reducing near-term maintenance risk. The asset offers a compelling value-add opportunity with over 33% projected rental upside. It is individually metered for all utilities, minimizing landlord expenses to common area electricity only. Located within a Qualified Opportunity Zone, the property may provide attractive tax advantages. Additional upside exists through the potential development of up to three ADUs (buyer to verify).
Investment highlights
- Earthquake Retrofit Complete | New Roof in 2019, New Rain Gutters in 2023 and New Electrical Panels in 2024
- Value-Add Opportunity with Over 33% Upside in Rents
- Qualified Opportunity Zone - Eligible for Federal Tax Incentive
- Individually Metered for All Utilities, Ownership Only Pays for Common Area Electricity
- Potential to Add Three (3) ADUs - Buyer to Verify
Listing Contacts
Listed by Investment Real Estate Associates
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,596.00
$8,966.33/mo
Valuation Metrics
0
DSCR
5.82%
Cap Rate
5.82%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
