14202 Delano St, Van Nuys CA 91401

OFFERING PRICE: $900,000

MVP Commercial Investment Real Estate of KW Commercial is pleased to present the Delano Street Apartments – a six (6) unit multifamily investment opportunity located in Van Nuys. The property was built in 1955, consists of four (4) Two Bedroom One Bath Units and two (2) One Bedroom One Bath Units, and is situated on a 7,499 SF lot zoned R3. Five of the six units are currently occupied with limited rental income history. The sixth unit has been remodeled, is currently vacant, and is in rent ready condition. Lastly, the property is located in a Designated Qualified Opportunity Zone.

  1. Bankruptcy Court Sale Subject to Court Overbid and Approval Process
  2. All Offers are Subject to an Overbid Process
  3. Bankruptcy Court Case # 1:16-bk-10048-MB
  4. Property is being Sold “AS-IS, WHERE-IS” without Representation or Warranties

All units are separately metered for gas and electricity and have individual hot water heaters. There is also an on-site laundry room with washer/dryer hookups where an investor can place their own appliances to generate extra income. Further, there is a newer roof in place, newer Electrical Meters and Breakers, and some updated plumbing. Lastly, there is an electric gate in the front along with 6 carport parking spaces towards the rear of the property.

COURT OVERBID AUCTION INFORMATION:

Initial Overbid Price: $1,130,000, and bidding, if any, shall proceed in increments of $1,000.
Court Date: January 30th, 2019
Time: 11:00 AM
Place: Courtroom 303, 21041 Burbank Blvd., Woodland Hills, CA 91367
*All interested parties should consult with legal counsel with experience in bankruptcy sale matters to better understand the opportunities and risks associated with participating in the bankruptcy auction and sale process. Please request Sale and Bid Procedures from listing agents.

INVESTMENT HIGHLIGHTS

  • Bankruptcy Court Sale Subject to Court Overbid and Approval Process
  • AMAZING COST PER SQUARE FOOT – $189.87!
  • Subject Property is located in a Designated Qualified Opportunity Zone
  • Tremendous Added Value Opportunity | 8.15 GRM and 8.85% CAP at Market Rents
  • Individual Water Heaters | Newer Electrical Meters and Breakers
  • On-Site Laundry Room with Washer and Dryer Hookups
  • Six (6) Carport Parking Spaces
  • Close Proximity to 405, 101, and 170 Freeways
  • Public Transportation Available

MVP Commercial Investment Real Estate does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. If your home is currently listed with another broker, this is not intended to solicit that listing. CalBRE 01816119, 01483131.

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