14629 Erwin ST Van Nuys CA 91411 MLS #25549049

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 a 5.69% CAP rate at market rents. The property features 30 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 oversized penthouse units crown the building and offer expansive outdoor living areas. 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.