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- Residential Income - Commercial Apartments
- For Sale: $3,110,000
- Residential Income - Commercial Apartments
- For Sale: $1,649,000
- Residential Income - Fourplex
- In Escrow / Under Contract: $1,360,000
- Residential Income - Duplex
- In Escrow / Under Contract: $695,000
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Buying and Selling Multi-family Real Estate in Van Nuys, CA
Van Nuys is a neighborhood in the San Fernando Valley district of Los Angeles and is a great place to buy or sell multifamily, duplex, triplex, fourplex and larger commercial apartment properties. Its job industry, conveniences, and attractions make this a great place to live and there is a good market available to buy multifamily rental properties such as duplexes, triplexes, and fourplexes. These properties can bring in great income and can be sold quickly if you need to move your investments around. Since Van Nuys is in the city of Los Angeles, there is rent control, unless the building falls under one of the exceptions, which are listed under the definition of "Rental Unit" in LAMC 151.02.
Van Nuys’s population was 110,747 as of 2008. The estimated median household income in 2011 was $42,452. This is lower than the California median which was $57,287 in 2011. Renters occupied 73.9% of the housing stock, and house- or apartment-owners held 26.1%. The residents of Van Nuys are mostly in the service occupation, with 19% of all males and 36% of females in it, which is higher than the California average. The two biggest companies in Van Nuys are Grupo TACA, which operates a Van Nuys area TACA Center and Sound City Studios, a very well-respected recording studio.
The city also enjoys being close to a variety of conveniences. It has its own airport, the Van Nuys Airport, which is one of the busiest general aviation airports in the world. No major commercial airlines fly into this airport; it is used by private, chartered, and small commercial aircraft. Hollywood celebrities, politicians, and business executives are known to use this airport because it offers them convenience and anonymity. Also close by are Bob Hope Airport (6 miles), with domestic flights, and Los Angeles International Airport (LAX), only 23 miles away. The largest hospital in Van Nuys is the Valley Presbyterian Hospital, which is also the largest acute care hospital in central San Fernando Valley. There are also a number of universities and colleges in or near Van Nuys, with the biggest being California State Northridge which has over 24,473 full time enrolled students and is only 9 miles away.
Van Nuys also has many attractions, including the Japanese Garden, 6.5 acres of Zen meditation gardens. The Leo Magnus Cricket Complex is a group of four cricket grounds. For shopping you can go to The Plant, a shopping center built on the site of the old Van Nuys General Motors plant, or go nearby to the The Village at Sherman Oaks, shopping and dining at the intersection of Ventura Boulevard and Van Nuys Boulevard. It ranks as one of the Valley’s most recognized destinations for shopping, offering numerous small boutiques and plazas, outdoor shopping centers, specialty shops and service providers. The eclectic collection of trendy shops in The Village offers a main street shopping experience. The Village is home to top rated restaurants as well as hip fast food eateries, offering authentic cuisine from around the world.
All of these features make Van Nuys a great city to buy or sell multifamily investment rental properties such as duplexes, triplexes, fourplexes and larger commercial apartment buildings. This vibrant, growing community has great attractions, a healthy work industry, and many renters. The density of the city and the desire for people to live here, make it an ideal location for multifamily living and the city does have great duplex, triplex, and fourplex properties.
Also serving other Los Angeles County Cities.
All This information was gathered from: city-data.com, and wikipedia.
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