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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$3,095,000

Est. payment - /mo

19 Beds

10 Baths

9,876 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,876 sqft

Price per Sqft $313

MLS Listing ID 25542003

Bedrooms 19

HOA Y/N No

Year Built 1952

Lot Size 0.299 Acres

Property Description

Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 6.64% Cap Rate/10.19 GRM with 77% upside in rents! ONE (1) 3bd-1.5ba move in ready units may be delivered VACANT at the close of escrow. This property consists of two buildings with a mix of (4) 1-Bedroom/1-Bath and (2) 2-Bedroom/1-Bath (2) 3-Bedroom/1-Bath (1) Townhouse style 3-Bedroom/1 1/2-Bath and (1) Townhouse style 2-Bedroom/1 1/2-Bath units with a combined 9,876 square feet of rentable space on a combined 13,029 square foot lot across two separate APN's. Built in 1952, this complex offers an on-site laundry room along with (4) double-car and (2) single-car enclosed garages for a total of 10 spaces behind the building. Permits paid for and in hand to convert all the garages into Four new 2bd 1ba ADU units which will be provided to the buyer. The current cap rate is 6.64% with a Pro-forma cap rate of 12.7%/6.34 GRM. Pro-forma figures take into consideration $325,000 cap ex to develop FOUR ADU units. In addition, all units are separately metered for gas and electricity and are equipped with either wall-unit A/C and Heat, Central A/C (two townhouse-style units) or mini split systems. E-Mail LA1 for set up sheet and showings.

Location

State CA

County Los Angeles

Area Vg - Valley Glen

Zoning LARD1.5

Interior

Heating Natural Gas

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Disposal, Refrigerator

Laundry Common Area

Exterior

Total Parking Spaces 10

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2343005014

Special Listing Condition Standard

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Listed by Rohom Tabankia ARLO Real Estate Advisors

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5846 Woodman AVE Van Nuys, CA 91401