THE OFFERING

Lilly Enterprises, Inc., as the exclusive listing agency, is pleased to present for sale (for the first time in over 30 years) 6633 and 6639 N Sepulveda Blvd., a combined two (2) quadraplex offering situated across a large double lot totaling ±18,600 SF in Van Nuys, CA.  The offering presents numerous options (owner occupy, buy and hold, redevelopment, fixer-upper, ADU add-on) for an investor (new or experienced) to acquire a very well-maintained and stable asset with ±45% in rental upside (stabilized ±5.75 CAP & ±12.5 X) achievable through unit turnover and renovation.  The property is subject to The City of LA Rent Stabilization Ordinance (RSO), which supersedes the new Assembly Bill 1482 "Tenant Protection Act of 2019."  The property is not subject to The City of LA Soft-Story Retrofit Program.  There is a possibility to finance both properties individually as residential loans (confirm with your lender).

The building comes with little deferred maintenance and most major components (i.e. the roof, electrical, plumbing and foundation) are in fair condition.  Building amenities include an on-site laundry room (leased machines), overhang storage cabinets for each unit, four (4) garage doors with each door containing two (2) parking spaces, three (3) additional uncovered parking spaces and two (2) large enclosed front yards. The building is serviced by individual wall/floor heaters and furnaces.  The owner is responsible for water/sewage and tenants are responsible for gas, electric and trash.  The 1BR/1BA units are approximately 850 SF and the 2BR/1BA units are approximately 950 SF.  The most recently renovated units included granite countertops, remodeled bathrooms and refinished hardwood floors.  Both building exteriors and the laundry room were recently repainted.

6633 and 6639 N Sepulveda Blvd. are located between Vanowen St. and Victory Blvd., roughly 6 blocks E of the 405 Freeway.  Both properties reside along smaller N Sepulveda Blvd., which is divided from the busy and major Sepulveda Blvd.  Abutting both properties to the W is an upscale Van Nuys neighborhood.  One block N and S are 2 large residential developments currently underway. Within close distance are numerous national operators such as Costco, Target, CVS, 99 Ranch, Office Depot, Petco, amongst many others.  2 major blocks E along Van Nuys Blvd. is the upcoming $1.3B Metrolink Van Nuys Blvd. Light Rail Project, which is scheduled to break ground in 2021 and be completed by 2027.  In advance of the construction start date, The City of LA is already taking steps to plan for new development surrounding each of the 14 stations that will run along the 9.2 mile line, terminating at the Sylmar Metrolink Station to the N and the Orange Line Busway to the S.  Van Nuys is a neighborhood within the San Fernando Valley region of Los Angeles County, surrounded by Panorama City, North Hills, Northridge, Lake Balboa, Sepulveda Basin, Sherman Oaks, Valley Glen and Sun Valley.

CONTACT

Matthew Lee  |  Executive Managing Director/Property Supervisor  |  CalBRE # 01881080  |  Office:  (310) 324-7400 Ext. 201  |  Cell: (323) 533-8818 | Email:  MattLee.lpm@gmail.com