$ 4,850,000
14547 Saticoy ST Van Nuys, CA 91405
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$ 4,850,000
Est. payment /mo
Price Dropped by $450K
14547 Saticoy ST Van Nuys, CA 91405
42 Beds
30 Baths
21,518 SqFt
UPDATED:
10/18/2024 09:27 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 21,518 sqft
Price per Sqft $225
MLS Listing ID 24429817
Bedrooms 42
HOA Y/N No
Year Built 1964
Lot Size 0.605 Acres
Acres 0.6049
Property Description
We are pleased to present 14547 Saticoy St, a well kept 30-unit value-add multi-family investment opportunity with approximately 53%+ rental upside potential, located in the high demand Van Nuys submarket of Los Angeles just west of Van Nuys Blvd and east of the 405 freeway.14547 Saticoy Street was built in 1964 and consists of 12 (2+1) and 18 (1+1) units that average approximately 800 and 650 gross square feet, respectively. The 2-story, 21,518 square foot structure is situated on a 26,351 square foot, LAR3-1 zoned lot with a common area courtyard and 26 individual parking spaces. The property's units are spacious with lots of natural light and 28/30 units contain private patios or balconies. Roughly 70% of units have undergone some renovation. Renovations include new kitchen cabinets/pulls, quartz countertops, and carrara quartz slab shower stale lining, wood plank vinyl flooring, and new shower tile. There is no gas servicing the units (radiant heating and electric stoves), only the two water heaters (connected to a solar thermal system powered by solar panels on the roof), and common area laundry room onsite. All balcony decking has been recently updated and the Soft Story Retrofit work has been completed. The buildings are separately metered for electricity and contain a solar thermal system for hot water powered by solar panels on the roof of the structure. Gas service to the building is limited to heating master boiler water and laundry machines. 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 Valley Glen. The property is conveniently located near essential amenities, including a Home Depot just 0.4 miles north, and Big 5 Sporting Goods and Walgreens 0.6 miles south. Within 1 mile, residents can access Walmart, Smart & Final, JONS Marketplace, Super King, and Food 4 Less. The nearby Valley Presbyterian Hospital, just 1.2 miles away, serves as a key healthcare facility and a major employment center. Additionally, the Department of Public Social Services is directly across the street, providing essential services and another significant employment hub, enhancing the area's appeal. For cultural and entertainment options, the vibrant NOHO Arts District is only 6.4 miles southeast. Over the past two decades, Lankershim and Magnolia Blvds have become the heart of this dynamic urban community, offering theaters, art galleries, educational institutions, bars, and restaurants. Notable attractions include the El Portal Theatre, Lankershim Arts Center, The Art Institute of California, and the Television Academy's Hall of Fame. Sherman Oaks, just 3.5 miles south, is a premier destination for shopping and dining. Ventura Blvd, renowned for its boutique shops, diverse restaurants, and charming cafes, is a major attraction and the perfect place to find unique clothing, jewelry, and home goods while supporting local businesses. Boasting many large shopping and dining centers including the Westfield Fashion Square Mall and Sherman Oaks Galleria, Sherman Oaks offers an ideal blend of urban convenience and suburban charm. The Basin Sepulveda Recreation Area, which is home to Balboa Golf Course, Sepulveda Sports Complex, The Japanese Garden, and Lake Balboa, is 3.3 miles to the southwest. The Van Nuys Metrolink Station is located 0.3 miles to the northeast of the property. 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 2 miles to the south. 14547 Saticoy St is well-positioned for a skilled value-add investor, as a higher-end renovation program would optimize market rents, appreciation, and future returns.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Interior Features Ceiling Fan(s)
Heating Electric
Fireplace No
Exterior
Garage Gated
Parking Type Gated
Total Parking Spaces 26
Building
Story 3
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2210031031
Special Listing Condition Standard
Listed by Matthew R. Kanner • Keller Williams Realty Los Feliz