14728 Friar St

Van Nuys is a neighborhood in the city of Los Angeles in the San Fernando Valley region of Los Angeles County. Bordering and nearby areas include Sherman Oaks, North Hollywood, North Hills, Panorama City, Valley Glen, Lake Balboa, Northridge, and the Sepulveda Basin. Within the Community Plan Area "Van Nuys - North Sherman Oaks," a wave of new multifamily  development has progressively moved north along the neighborhood, which provides an increasingly attractive location for Residents to live and for Developers to invest. Population is approximately 102,000 individuals with an average household income of $66,000. Van Nuys has historically been a stagnant multifamily submarket with little new development, but the pipeline is growing as robust rent growth earlier this cycle helped jump start development. Demand remains strong, keeping the submarket vacancy rate among the lowest in LA despite accelerated construction in recent years. Van Nuys rents rank among the lowest in LA, but low-priced submarkets are capturing the lion's share of rent growth in recent quarters. Van Nuys is traditionally one of the least expensive submarkets in LA to invest in, but investors have taken note of the improving fundamentals, and prices have risen steadily for most of the cycle. The February 2018 sale of the recently completed IMT Sherman Circle was the largest multifamily trade in submarket history.SVN proudly presents a newly developed multifamily property situated at 14728 Friar St., Van Nuys, CA 91411, strategically located within an Opportunity Zone (Certificate of Occupancy not yet issued). The property comprises a well-balanced unit mix of two one-bedroom and ten two-bedroom apartments, including ten market-rate units and two designated for low-income residents. Conveniently positioned just west of the intersection of Friar Street and Cedros Avenue, one block south of Victory Boulevard, this property enjoys excellent accessibility. It lies in close proximity to the 405 Freeway, Van Nuys Airport, a golf course, a wildlife reserve, and major thoroughfares of the San Fernando Valley, including Sepulveda Boulevard, Victory Boulevard, Oxnard Street, and Sherman Way. Furthermore, the property is within a ten-minute walk of Van Nuys High School and a vibrant array of local retail, shops, and restaurants along Victory Boulevard. MOST NOTABLE BENEFIT: This property's location within an Opportunity Zone presents a compelling investment opportunity. Certificate of Occupancy not yet issued. Qualified Opportunity Funds (QOFs) and 1031 Exchange buyers may capitalize on significant tax advantages by holding the property for over ten years. Investors have the potential to eliminate all capital gains accrued from the date of property purchase, subject to meeting the requirements of the Opportunity Zone program. **Important Note: All prospective buyers and investors are encouraged to conduct thorough due diligence on the applicable Opportunity Zone regulations and consult with their respective tax and financial advisors (including how to acquire this new development before Certificate of Occupancy is issued). Our team is available to provide referrals to qualified Opportunity Zone specialists upon request.