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7503 Hazeltine Ave
18 Unit Apartment Building $3,295,000 ($183,056/Unit) Van Nuys, CA 91405
INVESTMENT HIGHLIGHTS
- Amazing Van Nuys Location
- Long Term Tenants with Upside
EXECUTIVE SUMMARY
MOTIVATED SELLER!
Spectrum Commercial Real Estate is pleased to present the opportunity to purchase 7503 Hazeltine Avenue, an 18-unit apartment complex in the highly desirable Van Nuys neighborhood. Less than 3 miles from the 405 Freeway. The property consists of 18 units, complete with detached garage & storage space for the Tenants in addition to a common courtyard and pool. Built in 1963, the exterior of the building was recently remodeled and all brand new windows were installed. Additionally, a new sealed silicone coating has been applied to the roof within the last year.
The Property, located off Van Nuys Blvd & Sherman Way, consists of the main structure & parking garages, with 8 - 1 bed room/1 bath room, 8 - 2 bed room/1 bath room, & 2 studio apartments. There are separate onsite parking spaces for each unit.
Spectrum Commercial Real Estate is pleased to present the opportunity to purchase 7503 Hazeltine Avenue, an 18-unit apartment complex in the highly desirable Van Nuys neighborhood. Less than 3 miles from the 405 Freeway. The property consists of 18 units, complete with detached garage & storage space for the Tenants in addition to a common courtyard and pool. Built in 1963, the exterior of the building was recently remodeled and all brand new windows were installed. Additionally, a new sealed silicone coating has been applied to the roof within the last year.
The Property, located off Van Nuys Blvd & Sherman Way, consists of the main structure & parking garages, with 8 - 1 bed room/1 bath room, 8 - 2 bed room/1 bath room, & 2 studio apartments. There are separate onsite parking spaces for each unit.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$252,338
|
$16.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$252,338
|
$16.10
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $252,338 |
| Annual Per SF | $16.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $252,338 |
| Annual Per SF | $16.10 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $3,295,000 | Apartment Style | Low Rise |
| Price Per Unit | $183,056 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Gross Rent Multiplier | 12.6 | Building Size | 15,678 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment |
| Price | $3,295,000 |
| Price Per Unit | $183,056 |
| Sale Type | Investment |
| Gross Rent Multiplier | 12.6 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 15,678 SF |
| No. Stories | 2 |
| Year Built | 1963 |
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Heating
- Kitchen
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Pool
- Storage Space
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 500 |
| 2+2 | 8 | - | 600 |
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PROPERTY TAXES
| Parcel Number | 2215-016-014 | Improvements Assessment | $530,017 |
| Land Assessment | $129,985 | Total Assessment | $660,002 |
PROPERTY TAXES
Parcel Number
2215-016-014
Land Assessment
$129,985
Improvements Assessment
$530,017
Total Assessment
$660,002
ZONING
| Zoning Code | LAR3 |
| LAR3 |
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7503 Hazeltine Ave
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