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14253 Gilmore Street A, Van Nuys, California 91401, Van Nuys, 91401 - bed, bath

14253 Gilmore Street A, Van Nuys, California 91401 home-pic-0
ACTIVE$2,700,000
14253 Gilmore Street A, Van Nuys, California 91401
0Bed
0Bath
6,092Sqft
7,502Lot
Year Built
1991
Close
-
List price
$2.7M
Original List price
$2.79M
Price/Sqft
$443
HOA
-
Days on market
-
Sold On
-
MLS number
BB25090990
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.70M(90th), sqft - 6092(90th), beds - undefined(10th), baths - undefined(10th).

Rare investment opportunity with huge upside in rents: Five individually parceled 3-Bed / 2.5-Bath Condominiums built in 1991, each with its own APN (2237-021-026, 2237-021-027, 2237-021-028, 2237-021-029, 2237-021-030) and featuring attached 2-car garages with direct access, private balconies, in-unit washer/dryer hookups, dishwashers, and central HVAC. Per ZIMAS, these units are not subject to RSO rent control and not subject to AB1482 (individually owned condos, not held by a corporation or trust). All units are individually metered for electric and gas and have their own water heaters. One unit has been fully remodeled, leaving four units primed for value-add cosmetic upgrades, creating excellent potential for strong cash flow, renovation upside, and multiple exit strategies.

Price History

Date
Event
Price
11/04/25
Price Change
$2,700,000-3.4%
05/08/25
Listing
$2,795,000
Condition Rating
Fair
Built in 1991, this property presents a mixed condition. One unit has been fully remodeled with modern wood-look tile flooring, recessed lighting, and a tastefully updated bathroom featuring a new vanity and marble-patterned subway tile. However, the listing explicitly states that four other units are 'primed for value-add cosmetic upgrades.' Images of these un-remodeled units reveal dated kitchens with original light wood cabinets, white tile countertops, older white appliances, and fluorescent lighting. The flooring in these units also appears to be older laminate. While the remodeled unit is in excellent condition, the majority of the property requires significant cosmetic updates to meet current standards, aligning with a 'Fair' rating where major components are functional but show signs of being outdated and require updates.
Pros & Cons

Pros

Exceptional Investment Opportunity: The property consists of five individually parceled condominiums, each with its own APN, offering a substantial multi-unit investment with diverse ownership and management flexibility.
Rent Control Exempt Status: Per ZIMAS, these units are not subject to RSO rent control and AB1482, providing significant flexibility for rent adjustments and maximizing investor returns in the California market.
Significant Value-Add Potential: Four out of five units are primed for cosmetic upgrades, presenting a clear and immediate path to increase rental income, property value, and overall cash flow through renovation.
Individual Unit Features & Cost Efficiency: Each unit includes desirable amenities such as attached 2-car garages with direct access, private balconies, in-unit washer/dryer hookups, central HVAC, and individual metering for all utilities (electric, gas, water heaters), reducing landlord operating expenses.
Flexible Exit Strategies: The individual parceling of each condominium allows for multiple exit strategies, including selling units separately, which can maximize potential returns and adapt to market conditions.

Cons

Required Capital Expenditure for Upgrades: Four of the five units require cosmetic upgrades, necessitating immediate capital investment and project management from the buyer to achieve their full rental and resale potential.
Age of Property: Built in 1991, the property is over 30 years old, which may lead to increased maintenance costs or the need for system replacements (e.g., roof, plumbing, electrical) in the near future for the unremodeled units.
Non-Turnkey for Majority of Units: Only one unit has been fully remodeled, meaning the majority of the portfolio is not immediately ready for top-tier rental income without further investment and renovation work.

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