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$1,400,000
Est. payment /mo
9 Beds
7 Baths
4,931 SqFt
UPDATED:
12/05/2024 03:36 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,931 sqft
Price per Sqft $283
MLS Listing ID 24407107
Bedrooms 9
HOA Y/N No
Year Built 1960
Lot Size 7,501 Sqft
Property Description
We are pleased to present 14248 Gilmore St, a 2-story, 7-unit, true value-add multi-family investment opportunity with approximately 66%+ rental upside potential, located in the highly desirable Van Nuys submarket of Los Angeles, just east of Van Nuys Boulevard and north of Victory Boulevard. Built in 1960, the building is comprised of 1 (2+1), 5 (1+1), and 1 single units that average approximately 704 gross square feet. The 4,931 square foot structure is situated on a 7,500 square foot, LA[Q]RD1.5-1 zoned lot that includes 11 parking spaces. The property features spacious units with lots of natural light. Select units boast new flooring, fresh paint, wall AC units in living rooms, large mirrored closets in bedrooms, updated kitchens with new stoves, and dining areas are adjacent to the kitchens. The building is separately metered for gas & electric and provides tenants with assigned parking, on-site laundry, and included water and trash services. With a great WalkScore of 85, the property's central Van Nuys location offers residents easy access to countless shopping, dining, public parks, and recreation options in Van Nuys, Sherman Oaks, Lake Balboa, and Panorama City. The Sepulveda Recreation Area, which is home to Balboa Golf Course, Sepulveda Sports Complex, The Japanese Garden, and Lake Balboa, is 1.8 miles to the west. The 405 Freeway is 1.7 miles to the west of the property, and the 101 Freeway is 2.3 miles to the south. The 170 Freeway is only 2.4 miles to the east, the 5 Freeway 5.6 miles to the northeast, and the 118 Freeway can be accessed 7.2 miles to the north. The Metro G Line (Orange) Busway, which runs almost the length of the entire San Fernando Valley and connects to the Metro Red Line to Downtown Los Angeles, can be accessed at the Van Nuys Metro G Line (Orange) Station, only 0.7 miles to the south. The East San Fernando Valley Light Rail Transit Project, currently under development, will significantly enhance the connectivity and transportation options for residents. This 9.2-mile light rail project will improve connections and access to key destinations while reducing congestion and fostering economic growth along the route.14248 Gilmore St is well-positioned for a skilled value-add investor, with the building's front garages presenting a prime ADU conversion opportunity, and a higher-end renovation program would optimize market rents, appreciation, and future returns. The property's premium location near transportation, grocery stores, restaurants, and shops makes it an attractive investment in the vibrant Van Nuys neighborhood submarket.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Assigned, Carport, Door-Multi, Door-Single, Garage
Garage Spaces 3.0
Carport Spaces 2
Garage Description 3.0
Total Parking Spaces 11
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2237020003
Special Listing Condition Standard
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Listed by Matthew R. Kanner • Keller Williams Realty Los Feliz