14224 Erwin St

Van Nuys, CA 91401

$2,400,000
Last Sold Price
5
Beds
11
Baths
6,127 Sq. Ft.
$392 / Sq. Ft.
6,127
Sq. Ft.
$392
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 9/12/22
Closed 9/12/22
a view of cars parked in front of a house
an aerial view of a house with a yard
an aerial view of city
a aerial view of a house with a yard
a cars parked in front of a house
a cars parked in front of a house
a view of car parked in front of house
a view of entryway with a yard
a view of a building with a yard
a view of entryway and hall
a view of parking area
a view of kitchen with cabinets
a very nice looking room with a large window and a chandelier
a kitchen with stainless steel appliances granite countertop a sink stove and refrigerator
a bathroom with a sink a toilet and a bathtub
a bedroom with furniture and wooden floor
a living room with furniture and wooden floor
a kitchen with a table and chairs

Description

INVESTMENT OVERVIEW
A ten-unit apartment building located at 14224 Erwin St. in Van Nuys, CA the subject property was built in 1965 with living area of 6,127 square feet situated on a 7,501 square feet land. The unit mix is comprised of 2 (0+1) , 6 (1+1), 1 (2+1) and 1 (2+2). In addition, there is a paid plan and permit in place for a 3+1 ADU ready to be constructed upon close of escrow. Some units have been upgraded . There is laundry facilities on premises and retrofit has been completed. UPSIDE...INVESTMENT OVERVIEW
A ten-unit apartment building located at 14224 Erwin St. in Van Nuys, CA the subject property was built in 1965 with living area of 6,127 square feet situated on a 7,501 square feet land. The unit mix is comprised of 2 (0+1) , 6 (1+1), 1 (2+1) and 1 (2+2). In addition, there is a paid plan and permit in place for a 3+1 ADU ready to be constructed upon close of escrow. Some units have been upgraded . There is laundry facilities on premises and retrofit has been completed. UPSIDE & LOAN ASSUMPTION
There is a 30% + upside potential in rents at present. However, upon completion of ADU the upside potential will bring a 7.78% cap and 9.45 GRM. Last but not least, In this high interest rate market, buyer can be benefited by assuming the present loan with excellent rate of 3.06% for remainder term of 4-years . This is a rare value add opportunity for any investor. Call or Email Agent for more details and offering memorandum.
  1. Listed by Akash Saini • DRE #02010158 • Brokerage DRE #01428774 • Keller Williams Realty-Studio City • akash@sainire.com

Property Details for 14224 Erwin Street

Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
6127
Assessor Parcel Number
2240-020-008
LISTING UPDATED: 09/12/2022 11:44 AM

Property Details for 14224 Erwin Street

StatusClosed
MLS #SR22123818
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1965
Lot Size0.17 AC / 7,500 SF
CountyLos Angeles County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Keller Williams Realty-Studio City, Akash Saini, DRE #02010158

Sold By Remax Optima, Pakrad Markarian, DRE #00952259

Add your commute

Building Information for 14224 Erwin Street

Stories2Residences-Year Built1965Building Size-Lot Size0.17 AC / 7,500 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$14,274 per month

30 year fixed, 6.15% Interest

Principal and Interest

$11,697

Property Taxes

$2,577

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 14224 Erwin Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $143,520
  • Gross Scheduled Income: $143,520
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $78,340
  • Laundry Income: $200
  • Other Income 1: $250
  • Financing: Assumed
Expense Details
  • Operating Expense: $61,649
  • New Taxes Expense: $29,900
  • Gardener Expense: $960
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $3,100
  • Maintenance Expense: $5,500
  • Professional Management Expense: $6,000
  • Other Expense: $12,000
  • Other Expense Description: Utility
  • Trash Expense: $3,576
  • Water Sewer Expense: $0
  • Total Expenses: $61,649
Tax / Assessment Info
  • Tax Block: 7
  • Tax Tract Number: 1200
  • Tax Census Tract: 1282.10
  • Tax Lot: 4
Community / Development
Community / Development
  • Community Features: Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Lease
  • Cooling: Wall/Window Unit(s)
Exterior Features
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,910
  • Unit Type Total Rent: $1,910
  • Unit Type Pro Forma: 2400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $7,062
  • Unit Type Total Rent: $7,062
  • Unit Type Pro Forma: 9300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,263
  • Unit Type Total Rent: $1,263
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,275
  • Unit Type Total Rent: $1,275
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 14224 Erwin Street

DateEvent & SourcePriceAppreciation
Sep 12, 2022

Sold

CRMLS #SR22123818

$2,400,000—
Sep 12, 2022

Sold

CLAW #SR22123818CN

$2,400,000—
Sep 8, 2022

Sold (Public Record)

Public Record #1497061488

$2,400,000

+21.7% / yr

Jul 4, 2022

Pending

CLAW #SR22123818CN

—
Jun 14, 2022

Withdrawn / Cancelled

CRMLS #SR22123818

—
Jun 14, 2022

Withdrawn / Cancelled

CLAW #SR22123818CN

—
Jun 8, 2022

Listed (Active)

CLAW #SR22123818CN

$2,500,000—
Jun 8, 2022

Listed (Active)

CRMLS #SR22123818

$2,500,000—
Jun 26, 2021

Sold (Public Record)

Public Record #1468709047

$1,895,000

+6.7% / yr

Oct 4, 2019

Expired

CRMLS #19481996

$1,850,000—
Oct 3, 2019

Expired

SDMLS #19481996

—
Oct 3, 2019

Expired

CLAW #19-481996

$1,850,000—
Jun 25, 2019

Listed (Active)

SDMLS #19481996

$1,850,000—
Jun 25, 2019

Listed (Active)

CLAW #19-481996

$1,850,000—
Jun 25, 2019

Listed (Active)

CRMLS #19481996

$1,850,000—
May 12, 2017

Sold (Public Record)

Public Record #596870272

$1,450,000—
DateEvent & SourcePrice
09/12/2022

Sold

CRMLS #SR22123818

$2,400,000
09/12/2022

Sold

CLAW #SR22123818CN

$2,400,000
09/08/2022

Sold (Public Record)

Public Record #1497061488

$2,400,000

+21.7% / yr

07/04/2022

Pending

CLAW #SR22123818CN

—
06/14/2022

Withdrawn / Cancelled

CRMLS #SR22123818

—
06/14/2022

Withdrawn / Cancelled

CLAW #SR22123818CN

—
06/08/2022

Listed (Active)

CLAW #SR22123818CN

$2,500,000
06/08/2022

Listed (Active)

CRMLS #SR22123818

$2,500,000
06/26/2021

Sold (Public Record)

Public Record #1468709047

$1,895,000

+6.7% / yr

10/04/2019

Expired

CRMLS #19481996

$1,850,000
10/03/2019

Expired

SDMLS #19481996

—
10/03/2019

Expired

CLAW #19-481996

$1,850,000
06/25/2019

Listed (Active)

SDMLS #19481996

$1,850,000
06/25/2019

Listed (Active)

CLAW #19-481996

$1,850,000
06/25/2019

Listed (Active)

CRMLS #19481996

$1,850,000
05/12/2017

Sold (Public Record)

Public Record #596870272

$1,450,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 14224 Erwin Street

Taxable ValueLand$1,498,176Additions$998,784Total$2,496,960
Tax Record2025$30,919 ($2,577 / month)
Home Facts
Total Finished SqFt6,127 SqFtAbove Grade Finished SqFt6,127 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLARD1.5CountyLOS ANGELESAPN2240-020-008

Schools near 14224 Erwin Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Van Nuys Elementary School
Public - K to 5
Van Nuys Middle School
Public - 6 to 8
Van Nuys Senior High School
Public - 9 to 12
Ararat Charter School
Charter - K to 5
Rating
School
Distance
Van Nuys Elementary School
PublicK to 5

Van Nuys Middle School
Public6 to 8

Van Nuys Senior High School
Public9 to 12

Ararat Charter School
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty-Studio City, Akash Saini, DRE #02010158

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.