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Diego Magdaleno

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

$7,100,000

Est. payment - /mo

36 Beds

36 Baths

24,349 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 24,349 sqft

Price per Sqft $291

MLS Listing ID 25548685

Bedrooms 36

HOA Y/N No

Year Built 1986

Lot Size 0.386 Acres

Property Description

7342 Haskell Ave, a 21-unit multifamily asset not subject to LA City Rent Control. SELLER WILL CARRY at 4.5% interest-only in year 1, 5.5% interest-only in year 2. Built in 1986, the property is exempt from Los Angeles City rent control, allowing for annual rental increases of 5% plus CPI, currently 8.8% annually. Significant capital improvements totaling approximately $500,000 have been invested into the property, including a new roof, elevator, exterior paint, upgraded hallway flooring, modern lobby tile, security camera installation, and updated interior lighting. Additionally, there is an opportunity to add Five 1-bedroom/1-bath ADUs without losing adequate parking and potentially increasing annual income by $100,000.Proximity to Major Developments: *East San Fernando Valley Light Rail Transit Project: Approximately 1.5 miles east, this 6.7-mile light rail line along Van Nuys Boulevard is under construction, with completion anticipated in 2031. It will enhance connectivity and transit options in the area.*G Line Busway Improvements: Around 2 miles southeast, the Metro G Line is undergoing a $668 million upgrade, including the construction of elevated stations at key intersections like Van Nuys Boulevard and Sepulveda Boulevard, aiming to improve travel times and reliability. *The Brightly at 6569 Van Nuys Blvd: Located approximately 2.5 miles southeast, this six-story development features 174 residential units and 18,400 square feet of ground-floor commercial space, contributing to the area's revitalization. *Affordable Housing at 6100 Hazeltine Ave: About 3 miles southeast, a seven-story building with 72 affordable units is under development, addressing housing needs and promoting community growth. This offering is ideal for investors seeking a well-maintained asset with value-add potential in a neighborhood poised for continued growth and development. ***Contact us today to request the OM or schedule a private tour.***

Location

State CA

County Los Angeles

Area Lkbl - Lake Balboa

Zoning LAR3

Interior

Heating Central

Fireplace No

Exterior

Parking Features Controlled Entrance

Total Parking Spaces 44

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 2206029022

Special Listing Condition Standard

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Listed by Kelly Morgan Houze Real Estate Management

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7342 Haskell AVE Van Nuys, CA 91406