14020 Foothill Boulevard, Sylmar, California 91342, Sylmar, 91342 - bed, bath
ACTIVE$1,645,000
14020 Foothill Boulevard, Sylmar, California 91342
0Bed
0Bath
5,364Sqft
20,659Lot
Year Built
1918
Close
-
List price
$1.65M
Original List price
$1.7M
Price/Sqft
$307
HOA
-
Days on market
-
Sold On
-
MLS number
SR25084597
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.65M(97th), sqft - 5364(99th), beds - undefined(1th), baths - undefined(1th).
Exceptional Value-Add 7-unit multi-family property featuring a 6-unit apartment building alongside a detached house, all set on a spacious lot with significant vacant land at the rear—ideal for future development. This property has been a reliable long-term investment, with a new roof installed in late 2024 and recent retrofitting of the carport to meet updated earthquake safety codes. Currently, rents are below market value, presenting multiple avenues for growth. Investors can capitalize on opportunities to increase rental income, add additional units including AB 1211 ADUs, or explore redevelopment options.
Nearby schools
3/10
Sylmar Elementary School
Public,•K-5•0.4mi
3/10
Hubbard Street Elementary School
Public,•K-5•0.9mi
2/10
Gridley Street Elementary School
Public,•K-5•1.0mi
6/10
Dyer Street Elementary School
Public,•K-5•1.1mi
6/10
Harding Street Elementary School
Public,•K-5•1.4mi
4/10
Herrick Avenue Elementary School
Public,•K-5•1.4mi
3/10
El Dorado Avenue Elementary School
Public,•K-5•1.7mi
4/10
Osceola Street Elementary School
Public,•K-5•1.9mi
4/10
Hillery T. Broadous Elementary School
Public,•K-5•2.8mi
7/10
Sylmar Leadership Academy
Public,•K-8•0.7mi
4/10
Olive Vista Middle School
Public,•6-8•0.7mi
3/10
San Fernando Middle School
Public,•6-8•2.1mi
9/10
Robert Frost Middle School
Public,•6-8•4.3mi
5/10
San Fernando Senior High School
Public,•9-12•2.9mi
6/10
John F. Kennedy High School
Public,•9-12•3.9mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.2mi
5/10
Valley Academy Of Arts And Sciences
Public,•9-12•5.2mi
7/10
Northridge Academy High
Public,•9-12•6.7mi
Condition Rating
Poor
Built in 1918, this multi-unit property is over 100 years old. While the description notes a new roof (2024) and recent carport retrofitting, these are structural updates and do not address the interior condition of the 7 units. The listing emphasizes 'Value-Add' and 'below market value' rents, strongly indicating that the interiors (kitchens, bathrooms, flooring, appliances, and potentially electrical/HVAC systems, as evidenced by visible window AC units) are significantly outdated and require substantial rehabilitation to meet modern standards and command higher rents. Without interior photos, and given the age and 'value-add' nature, it's highly probable the units are very uncomfortable by current living standards and need extensive modernization.
Pros & Cons
Pros
Exceptional Value-Add Opportunity: The property is explicitly marketed as an 'Exceptional Value-Add' investment, indicating significant potential for increased profitability through strategic improvements and management.
Significant Development Potential: A spacious lot with substantial vacant land at the rear, coupled with the potential for adding AB 1211 ADUs, offers immense future development and expansion opportunities.
Below Market Rents Upside: Current rents are below market value, providing a clear and immediate path for investors to increase rental income and improve the property's cash flow and cap rate.
Multi-Unit Income Diversification: Comprising a 6-unit apartment building and a detached house, the 7-unit configuration offers diversified income streams and reduces risk compared to single-unit investments.
Recent Capital Improvements: A new roof installed in late 2024 and recent earthquake retrofitting of the carport demonstrate proactive maintenance and reduce immediate capital expenditure for a new owner.
Cons
Age of Property: Built in 1918, the property is over a century old, suggesting potential for outdated systems (plumbing, electrical, HVAC) that may require significant future upgrades or maintenance beyond the noted roof and carport.
Active Management Required for Value-Add: Capitalizing on the 'below market rents' and 'development potential' will require active and skilled property management, including rent increases, tenant relations, and navigating construction or permitting processes.
Initial Investment for Maximized Returns: While offering significant upside, realizing the full value-add potential (e.g., ADU construction, extensive renovations to justify higher rents) will necessitate additional capital investment post-acquisition.