14708 Gilmore Street, Van Nuys, CA 91411

$3,050,000
20
BD
12
BA
9,620
SqFt
List Price
$3,050,000
MLS#
19487928
Bedrooms
20
Bathrooms
12
Living Sq. Ft
9,620
Lot Size
14,999
Property Type
Multifamily
Status
Active

Property Description

We are pleased to announce the sale of 14708-14712 Gilmore Street, a 12-unit multifamily property located in Van Nuys, CA that features mostly two bedroom apartments. Future maintenance costs for the new owner are drastically minimized by the property's new copper plumbing and the fact that it does not appear on the LADBS seismic retrofit list (Buyer to verify). A new owner can potentially add value to the property by capitalizing on the ongoing upgrade strategy in order to recapture the approximately 30% rent upside. The two buildings sit on two separate parcels, adding flexibility to the new owner's eventual exit strategy.The current owner has improved the property with substantial upgrades, including full copper plumbing. Most of the unit interiors feature new wood flooring, new granite countertops, new windows, new doors, and new cabinets. Each unit also includes its own individual water heater, many of which have been updated in recent years.

Additional Information

Units
12
Net Operating Income
$143,129
Year Built
1957
View
Heat
Other
Cooling
Air Conditioning

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo.

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