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1414 2nd St 9 Unit Apartment Building $1,995,000 ($221,667/Unit) San Fernando, CA 91340
INVESTMENT HIGHLIGHTS
- Non-Rent Controlled Asset in Prime San Fernando
- Assumable Loan at 3.89% Fixed Through 5/2029
- 9 Units: All 1-Bed / 1-Bath
EXECUTIVE SUMMARY
1414 2nd St, San Fernando, CA 91340
9 Units | Non-Rent Controlled | Assumable Loan at 3.89%
Offered at: $1,995,000
Presented by Art Minassian & Ron Kassan
AvailableWarehouses.com Team – Spectrum Commercial Real Estate, Inc.
Exceptional opportunity to acquire a stabilized 9-unit multifamily property in the heart of San Fernando. This asset consists of nine 1-bedroom / 1-bathroom units and benefits from no local rent control, making it a prime investment in a historically high-demand rental market.
The property features a highly attractive assumable loan at 3.89% fixed with a current balance of approximately $1.2 million, assumable through May 2029 with a 1% assumption fee—a rare and significant value proposition in today’s lending environment.
The building generates $173,460 in gross annual income with stable tenancy, providing immediate cash flow with long-term upside.
9 Units | Non-Rent Controlled | Assumable Loan at 3.89%
Offered at: $1,995,000
Presented by Art Minassian & Ron Kassan
AvailableWarehouses.com Team – Spectrum Commercial Real Estate, Inc.
Exceptional opportunity to acquire a stabilized 9-unit multifamily property in the heart of San Fernando. This asset consists of nine 1-bedroom / 1-bathroom units and benefits from no local rent control, making it a prime investment in a historically high-demand rental market.
The property features a highly attractive assumable loan at 3.89% fixed with a current balance of approximately $1.2 million, assumable through May 2029 with a 1% assumption fee—a rare and significant value proposition in today’s lending environment.
The building generates $173,460 in gross annual income with stable tenancy, providing immediate cash flow with long-term upside.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$173,460
|
$46.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$173,460
|
$46.01
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$52,038
|
$13.80
|
| Net Operating Income |
$121,422
|
$32.21
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $173,460 |
| Annual Per SF | $46.01 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $173,460 |
| Annual Per SF | $46.01 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $52,038 |
| Annual Per SF | $13.80 |
| Net Operating Income | |
|---|---|
| Annual | $121,422 |
| Annual Per SF | $32.21 |
PROPERTY FACTS
| Price | $1,995,000 | Building Class | C |
| Price Per Unit | $221,667 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 3,770 SF |
| Gross Rent Multiplier | 11.5 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.39/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, San Fernando | ||
| Price | $1,995,000 |
| Price Per Unit | $221,667 |
| Sale Type | Investment |
| Gross Rent Multiplier | 11.5 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,770 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.39/1,000 SF |
| Zoning | R3, San Fernando |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 2520-017-005 | Improvements Assessment | $471,132 |
| Land Assessment | $574,284 | Total Assessment | $1,045,416 |
PROPERTY TAXES
Parcel Number
2520-017-005
Land Assessment
$574,284
Improvements Assessment
$471,132
Total Assessment
$1,045,416
MAP
ADDITIONAL PHOTOS
Building Photo
Plat Map
Building Photo