5846 Woodman Avenue Active Save Request In-Person Tour Request Virtual Tour
Van Nuys (los Angeles),CA 91401
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,876 sqft
Price per Sqft $303
MLS Listing ID CL24413159
HOA Y/N No
Year Built 1952
Lot Size 0.299 Acres
Acres 0.3
Property Description
Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 7.05% Cap Rate/10.52 GRM with 96% upside in rents! Three (3) 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 and (2) 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 7.05% with a Pro-forma cap rate of 15.90%/5.38 GRM. 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 Listing
Zoning LARD
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 2343005014