Presenting a rare ground-up multifamily development opportunity in Van Nuys, currently under construction with anticipated completion by January 2026. This offering provides investors with flexible delivery options either as-is for those seeking to complete the construction process or fully built and ready for lease-up and stabilization. At market rents, the project is projected to achieve an approximate 5% CAP rate. Additionally, it is uniquely situated within a federally designated Opportunity Zone, offering potential tax incentives for investors focused on long-term capital appreciation. Located in the heart of a rapidly transforming submarket, the site is surrounded by approximately 20 new multifamily developments within Van Nuys and borders high-growth neighborhoods such as Sherman Oaks and North Hollywood, where nearly 40 additional development projects are underway. Van Nuys continues to show strong rental demand and high occupancy levels, driven by a combination of job growth, population increases, and relative affordability compared to other parts of Los Angeles. The property’s central location offers walkable access to local parks, Lake Balboa, coffee shops, restaurants, and everyday retail amenities. It also boasts excellent regional connectivity via the 405 and 101 freeways, Metro bus lines, and the Van Nuys Metrolink Station providing convenient access to key employment centers in Sherman Oaks, Burbank, Studio City, and Downtown Los Angeles.
Property Details
Price:
$5,990,000
MLS #:
25555149
Status:
Active
Baths:
0
Address:
14728 Friar Street
Type:
Residential Income
Neighborhood:
vnvannuys
City:
Van Nuys
Listed Date:
Jun 23, 2025
State:
CA
ZIP:
91411
Lot Size:
6,250 sqft / 0.14 acres (approx)
Year Built:
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Schools
Interior
Appliances
Dishwasher, Microwave, Refrigerator
Flooring
Wood
Heating
Central
Exterior
Parking Features
Covered
Parking Spots
12.00
Security Features
24 Hour Security, Automatic Gate, Gated Community, Fire Sprinkler System, Smoke Detector(s)
Stories Total
5
Financial
Map
Community
- Address14728 Friar Street Van Nuys CA
- AreaVN – Van Nuys
- CityVan Nuys
- CountyLos Angeles
- Zip Code91411
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14728 Friar Street
Van Nuys, CA
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