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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$10,950,000

Est. payment - /mo

49 Beds

40 Baths

24,115 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 24,115 sqft

Price per Sqft $454

MLS Listing ID 25549049

Bedrooms 49

HOA Y/N No

Year Built 2025

Lot Size 0.322 Acres

Property Description

This newly constructed multifamily development represents a rare turnkey opportunity in the heart of Van Nuys. The project has secured its TCO and is pending final Certificate of Occupancy, positioning an investor to move directly into lease-up, with seven (7) units already occupied at pro forma rents, providing early income validation and a strong foundation for stabilization at a projected 5.41% market cap rate, allowing for immediate lease-up and optimized rental execution. The units are thoughtfully designed with spacious layouts, private balconies, and in-unit washer/dryers, while two oversized penthouse units crown the building and offer expansive outdoor living areas. The property also features 30 dedicated parking spaces secured behind a gated entrance, providing residents with both convenience and peace of mind. The asset is situated within one of the Valley's most active development corridors, with approximately 20 new multifamily projects underway in Van Nuys and nearly 40 additional developments progressing in adjacent neighborhoods such as Sherman Oaks and North Hollywood, reflecting sustained rental demand, high occupancy levels, continued employment growth, and relative affordability compared to nearby submarkets. The location provides residents with excellent access to parks, outdoor recreation, and a variety of nearby restaurants, cafs, and shopping destinations, while its central positioning within the Valley ensures convenient connectivity to major employment hubs and lifestyle amenities, making the asset a compelling opportunity for investors seeking a high-quality, newly built multifamily property with strong long-term growth potential.

Location

State CA

County Los Angeles

Area Vn - Van Nuys

Zoning LAR3

Interior

Interior Features Balcony, Elevator, Open Floorplan, Recessed Lighting, Walk-In Closet(s)

Heating Electric

Flooring Wood

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Microwave, Oven, Refrigerator, Range Hood, Dryer, Washer

Exterior

Exterior Feature Rain Gutters

Parking Features Assigned, Controlled Entrance, Covered, Gated, Side By Side

Pool None

Community Features Gated

Amenities Available Controlled Access, Security

View Y/N Yes

View City Lights

Porch Enclosed

Total Parking Spaces 30

Private Pool No

Building

Story 5

Entry Level Three Or More,Multi/Split

Foundation Permanent, Slab

Sewer Sewer Tap Paid

Architectural Style Contemporary

Level or Stories Three Or More, Multi/Split

New Construction Yes

Others

Senior Community No

Tax ID 2241011021

Security Features Fire Sprinkler System,Security Gate,Gated Community,24 Hour Security

Special Listing Condition Standard

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Listed by Scott Rosenberg Kidder Mathews of California, Inc. #01456686

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14629 Erwin ST Van Nuys, CA 91411