6590 Hazeltine Ave, Van Nuys, CA 91401

Description

6590 Hazeltine Ave presents an exceptional opportunity to acquire a well-maintained 14-unit apartment community ideally located in the heart of Valley Glen, one of the San Fernando Valley's most established and tightly held residential submarkets. Built in 1988, this offering stands apart for the sheer scale of its residences a rare collection of oversized two and three bedroom floor plans that live more like townhomes than apartments, in a submarket where large-format rental product of this caliber almost never trades.Situated on a 16,443 square foot lot, the property totals 18,080 square feet of gross building area, averaging an exceptional 1,291 square feet per unit across a single building. The asset features a unit mix of seven (7) two bedroom, two bath units, five (5) three bedroom, two bath units, and two (2) three bedroom, three bath units with every residence in the building delivering two or more bedrooms and two or more bathrooms, a floor plan composition rarely assembled in the Valley Glen submarket.In-place rents generate a scheduled monthly income of $40,984 and scheduled yearly income of $491,808, with laundry income contributing an additional $4,800 annually supporting durable, diversified cash flow at the property. Notably, the offering will be delivered with eight (8) vacant units, affording an incoming investor immediate operational flexibility across the majority of the building from day one. The property operates under California's AB 1482 statewide rent cap framework.Valley Glen's enduring residential appeal further strengthens the investment profile of 6590 Hazeltine Ave. The property is embedded within a tree-lined neighborhood anchored by Los Angeles Valley College and the landmark Great Wall of Los Angeles along the Tujunga Wash Greenway. The location offers convenient access to the shops, dining, and entertainment of the NoHo Arts District, Westfield Fashion Square, and the Ventura Boulevard corridor in neighboring Sherman Oaks. Proximity to the 101, 170, and 405 freeways and major employment hubs across the Burbank Media District, Van Nuys Civic Center, and Kaiser Permanente Panorama City supports sustained rental demand at the property.With its prime Hazeltine Avenue address, exceptionally large two and three bedroom floor plans, strong in-place income, gated parking and on-site laundry, and eight vacant units offering immediate flexibility 6590 Hazeltine Ave represents a rare opportunity to acquire a pride-of-ownership asset in one of the most stable and enduring residential submarkets in the San Fernando Valley.