CA > Van Nuys
Van Nuys, CA 91411,14629 Erwin ST
Van Nuys, CA 91411,14629 Erwin ST
Van Nuys, CA 91411,14629 Erwin ST
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Elite Real Estate Group

Elite Real Estate Group

$12,500,000
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 $518

MLS Listing ID 25549049

Bedrooms 49

HOA Y/N No

Year Built 2025

Lot Size 0.322 Acres

Property Description

Our team is pleased to present a brand-new, 22-unit multifamily property located in the vibrant heart of Van Nuys, CA. This newly developed project has received its TCO and is awaiting the Certificate of Occupancy, offering a turnkey investment opportunity with the potential to stabilize at over a 5% CAP rate at market rents. The property features 23 dedicated parking spaces within a secure, gated entrance, as well as spacious, thoughtfully designed units each with a private balcony and in-unit washer and dryer. Two expansive penthouse units boast enormous balconies, and all units are currently vacant.Uniquely situated in an opportunity zone, the property sits in a thriving neighborhood with approximately 20 new multifamily development projects in the Van Nuys submarket. It also borders dynamic areas like Sherman Oaks and North Hollywood, where nearly 40 major development projects are underway. The submarket has demonstrated proven strong rental demand and consistently high occupancy rates, driven by job growth, relative affordability, and a growing population. Conveniently positioned near Van Nuys Airport and Lake Balboa, the property offers easy access to trendy eateries, coffee shops, parks, and a vibrant nightlife scene.

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 23

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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CRMLS – RECore
Listed by Scott Rosenberg Kidder Mathews of California, Inc.

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Elite Real Estate Group

Elite Real Estate Group

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14629 Erwin ST