Multi-Family for sale in Southern California — $10,950,000. 49 beds · 40 baths · 24,115 sqft. 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…
$10,950,000
14629 Erwin Street, Van Nuys, CA 91411
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.
Listing updated: May 29, 2026 at 12:58 PM
Listed by: Scott Rosenberg, Kidder Mathews of California, Inc.
Source: CRMLS, MLS#: 25549049, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
4/01/2026 Source: CRMLS, #25549049 | Price change | $10,950,000$454/sqft-4.8% |
| 6/05/2025Source: CRMLS, #25549049 | Listed for sale | $11,500,000$477/sqft |
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