14759 Friar St. Van Nuys, CA 91411
Multifamily Property in Van Nuys
SOLD: $3,100,000 CAP RATE: 5% GRM: 14.14 PRICE PER SQUARE FOOT: $439
It's a unique opportunity for developers to purchase a 7,500 sf lot in the heart of Van Nuys. By right a developer can develop 7 units, under TOC (Tier1), a developer can build up to 12 units on the property. The property currently has a vacant single family residence, and two occupied units on the rear of the property. This area its seeing a plethora of new development and is within close proximity to the City hub. Highlights:Build 12 units under TOC Within walking distance to downtown Van NuysMany new developments along the streetPrime Van Nuys location
Investment Highlights
Prime Urban Core: Located in the heart of Van Nuys, the property is within walking distance to downtown Van Nuys and the city hub.
High Walkability: It boasts a Walk Score of 86, classified as "Very Walkable".
Growth Corridor: The street has seen a plethora of new developments, increasing the area's overall density and commercial appeal.
Modern Amenities: Units are equipped with Nest thermostats, multi-level climate control, and dedicated EV charging stations for private parking spaces.
Listed & Sold By:
Tony Sameyah
(310) 749-4475
tony@lyonstahl.com