Five units in Van Nuys, sold in 2015 for $750,000
14836 Delano St in Van Nuys closed on August 31, 2015 at $750,000. That is about $150,000 a unit. The county roll dates the building to 1980, which puts it outside the city rent control law and inside the state rent cap.
| Address | 14836 Delano St, Van Nuys, CA 91411 |
|---|---|
| Units | 5 |
| Closed at | $750,000 |
| Closed on | August 31, 2015 |
The county file for this parcel is on its building page.
Outside city rent control, inside the state cap.
The Los Angeles Rent Stabilization Ordinance only reaches rental units built on or before October 1, 1978. A 1980 building misses that by about two years. The state cap under AB 1482 still applies to it, because the state rule only leaves out housing from the last 15 years. So the yearly increase on a unit is limited by the state formula rather than the city one.
Why five units is a different sale than four.
Fannie Mae buys loans on homes of one to four units, and the FHA single family rules cover one to four units too. A buyer who wants to live in one unit and rent the rest can finance up to a fourplex that way. At five units the building needs a commercial loan, underwritten on its income.
Closed by Shaya Lowenstein, CA DRE #01942326. The address, size and closing figures are from the closed-sales record on this site and can be checked against the Los Angeles County recorder.
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