$3,500,000
SOLD MAY 12, 2025

6716 Sylmar Ave Los Angeles, CA 91405

24 Beds
24 Baths
9,996 Sq Ft
10,783 Sq Ft Lot

Recently Sold

$350 Per Sq Ft

8% Below List Price

26 Days on Market

Highlights

  • Tandem Parking
  • Central Heating and Cooling System
  • Gated Home
  • Van Nuys High School Rated A
  • Laundry Facilities
  • 3-minute walk to Van Nuys Park and Recreation Center

About This Home

As of May 2025

We are pleased to present for sale the 12-unit multifamily property located at 6716 Sylmar Avenue in Van Nuys, California. Built in 1984, the property is not subject to LA Rent Control (RSO) and is governed only by AB 1482, allowing annual rent increases The property features 12 two-bedroom, two-bathroom units, each approximately 833 square feet, with easy-to-manage family tenants in nearly all units. The property has a gated and controlled entrance, 24 total parking spaces (12 tandem), central heating and air, an onsite laundry room with two washers and two dryers (machines are leased), and 12 large storage closets. Importantly, the tuck under parking is exempt from the city's mandatory seismic retrofit program because the property was built in the 1980s. With upside in rents, this property offers a great opportunity to acquire a well-positioned asset in an up-and-coming area with good value-add potential. Thoughtfully maintained by the current ownership for over 20 years, recent improvements include a GE Enduris silicone-coated roof, repaired copper plumbing, and replaced air conditioners and heaters in select units. The property's strategic location in a budding pocket of Van Nuys benefits greatly from nearby new construction and proximity to key amenities. With no seismic retrofitting required and a significant rental upside, this investment presents a compelling opportunity for investors looking to capitalize on value-add potential and steady tenant demand.

Last Agent to Sell the Property

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 02/20/2025

Co-Listed By

Glen Scher

Marcus & Millichap License #01962976

Last Buyer's Agent

Rick Raymundo

Marcus & Millichap License #01357019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 10,783 Sq Ft Lot
  • Gated Home

Home Design

  • Split Level Home
  • Flat Roof Shape
  • Slab Foundation
  • Stucco

Interior Spaces

  • 9,996 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 24 Bathrooms

Parking

  • 24 Parking Spaces
  • Tandem Parking

Utilities

  • Central Heating and Cooling System

Community Details

  • 12 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 2237-003-043

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 9996
  • Lot Acreage: 0.2475
  • Stories: 2
  • Year Built: 1984
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 24
  • Laundry: Community
  • Laundry Equipment: Lease
  • Total Bathrooms: 24.00
  • Price Per S Q F T: 370.15

Exterior Features

  • Construction: Stucco
  • Other Structures: None
  • Foundation Details: Slab
  • Roof: Flat

Garage/Parking

  • Parking Garage: Tandem
  • Total Parking: 24

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Gated

Lot Info

  • Assessed Improvement Percent: 59.48
  • Assessed Improvement Value: 1233612
  • Assessed Land Percent: 40.52
  • Assessed Land Value: 840524
  • Total Assessed Value: 2074136
  • Assessor Parcel Number: 2237-003-043
  • Lot Size Area: 10783

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 10.79
  • Number Of Units: 12
  • Type Of Units: Market

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/12/2025 05/12/25 Sold $3,500,000 -5.4% $350 / Sq Ft
03/18/2025 03/18/25 Pending -- -- --
02/27/2025 02/27/25 Price Changed $3,700,000 -2.6% $370 / Sq Ft
02/20/2025 02/20/25 For Sale $3,800,000 -- $380 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Filip Niculete

    Seller's Agent in 2025

    Filip Niculete

    Marcus & Millichap

    (818) 357-9525

    12 in this area

    102 Total Sales

    Filip Niculete
    Section Image
  • Glen Scher

    Seller Co-Listing Agent in 2025

    Glen Scher

    Marcus & Millichap

    (818) 212-2700

    8 in this area

    49 Total Sales

    Glen Scher
    Section Image
  • Rick Raymundo

    Buyer's Agent in 2025

    Rick Raymundo

    Marcus & Millichap

    (818) 219-6146

    8 in this area

    63 Total Sales

    Rick Raymundo
    Section Image
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Map

Source: The MLS

MLS Number: 25501183

The MLS
California Los Angeles County Los Angeles 91405

6716 Sylmar Ave, Los Angeles, CA

Sold

MultiFamily

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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