14857 Hartsook Street

14857 Hartsook Street is a fully occupied, six-unit low-rise multifamily asset ideally situated in the heart of the Van Nuys–North Sherman Oaks submarket. Constructed in 1960 and thoughtfully maintained, this 5,958-square-foot property offers an average unit size of 993 square feet, each accompanied by covered parking and access to a communal outdoor space. With 100% occupancy and in-place rents currently at $2,015 per unit (26% below market), new ownership can immediately capture stable cash flow while positioning the asset for rental growth.

Offered at $1,725,000 ($289.53 per square foot), 14857 Hartsook Street delivers an in-place net operating income of $88,797 and a 5.15% cap rate. Pro forma analysis indicates a stabilized NOI opportunity of $133,595, elevating the cap rate to 7.74% upon lease-up to market rents of $2,683 per unit. With a gross rent multiplier of 11.89 and a potential GRM of 8.93, this asset presents an attractive value-add play for investors seeking both immediate yield and upside through lease restructuring and repositioning.

Strategically located just off Ventura Boulevard, this property benefits from excellent access to major thoroughfares, public transportation, and Sherman Oaks’ premier shopping, dining, and recreational amenities. The [Q]RD1.5-1-RIO zoning allows for continued multifamily use with potential for future redevelopment or densification. Whether acquiring as a long-term hold or executing a value-add strategy, this well-located, below-market income generator offers a compelling entry into one of Los Angeles’ most dynamic residential submarkets.