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$890,000
Est. payment /mo
6 Beds
4 Baths
9,020 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26191649
Bedrooms 6
Lot Size 9,020 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Rare value-add income opportunity with significant upside potential in a convenient Van Nuys location. Situated on an expansive 9,017 SF lot, 6870 Woodley Ave features four (4) existing residential units and offers an excellent opportunity for investors looking to reposition, improve and maximize a multifamily asset. One unit will be delivered vacant, providing an immediate opportunity to renovate and lease at current market rents, while the existing occupied units provide income from day one. Two units have 2 bed + 1 bath and the other two are 1 bed + 1 bath units. Vacant unit is a top level 1 bed + 1 bath. Property currently has 4 covered carport spaces plus room for 6 or more cars on site. The property's generous lot size and existing configuration may offer additional opportunities for ADU development, laundry income, expansion or other improvements, creating the potential to further enhance rental income and long-term value. Buyers and developers are encouraged to independently investigate and verify all zoning, density, ADU, development and redevelopment possibilities with the City of Los Angeles and appropriate professionals. With a combination of existing income, a vacant unit ready for renovation, large amount of open land and potential for additional units, this property presents multiple paths to create value. Conveniently located in Van Nuys with easy access to shopping, dining, schools, transportation, major freeways (101 & 405) and employment centers throughout the San Fernando Valley. 6870 Woodley is an outstanding opportunity for an investor seeking a multif
Location
State CA
County Los Angeles
Zoning Public Rec
Direction SE Corner of Woodley Ave and Bassett Street, West of the 405 Fwy
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 2224027040
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Edward Kaminsky, DRE#00958114 eXp Realty of California, Inc
NEARBY SCHOOLS & PROPERTIES
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Mary Ellen Haywood
Broker Associate CA DRE#01264878
Broker Associate CA DRE#01264878