14629 Erwin St, Van Nuys, CA 91411
- $10,950,000
- 49
- BD
- 40
- BA
- 24,115
- SqFt
- List Price
- $10,950,000
- Price Change
- ▼ $550,000 1775109844
- MLS#
- 25549049
- Year Built
- 2025
- Bedrooms
- 49
- Bathrooms
- 40
- Living Sq. Ft
- 24,115
- Lot Size
- 14,009
- Lot Location
- City, Near Public Transit, Flats
- Days on Market
- 419
- Property Type
- Multifamily
- Style
- Contemporary
- Stories
- 5
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 fourteen (14) units already occupied at pro forma rents, providing early income validation and a strong foundation for stabilization at a projected 5.43% 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.
Additional Information
- Association Amenities
- Elevator, Controlled Access, Gated Parking, Security
- Lot Description
- Single Lot, Lot-Level/Flat, Street Paved, Sidewalks, Curbs, Gutters, Street Lighting
- Other Buildings
- None
- Bedroom Features
- Primary Bedroom, Primary Suite, WalkInCloset
- Kitchen Features
- Counter Top, Island, Open to Family Room, Pantry, Remodeled
- Pool Description
- None
- Heat
- Electric
- Cooling
- Air Conditioning
- View
- City Lights, City, Skyline
- Exterior Construction
- Concrete, Stucco
- Number of Cars in Garage
- Covered Parking, Gated, Assigned, Controlled Entrance, Side By Side
- Water
- Public, Meter on Property
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Courtesy of Kidder Mathews of California, Inc., Scott Rosenberg - CA DRE#01456686
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