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$1,099,000
Est. payment /mo
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25130493
HOA Y/N No
Year Built 1955
Property Sub-Type Quadruplex
Property Description
Rare LAR3 zoned development or value add income opportunity in a prime pocket of Van Nuys. This property features four 2 bed 1 bath cottage style units with three detached buildings offering private entries and attached 1 car garages. Sitting on an oversized 10107 square foot lot measuring approximately 50 feet wide by 202 feet deep. The rear unit has a large private backyard and will be delivered vacant which is ideal for an owner user or a premium tenant. All units are currently occupied on month to month leases with consistent paying tenants generating 6400 per month with market rents supporting approximately 9500 per month. There is meaningful upside potential for investors seeking immediate reposition opportunities. The units are separately metered for gas and electricity which adds operational flexibility for long term investors or owner users. For developers the oversized R3 lot supports approximately 12 units by right and up to approximately 20 units with TOC Tier 3 incentives which the buyer should verify. The depth of the lot provides excellent design flexibility for efficient massing site plans and potential ADU additions or small scale expansion which the buyer should verify. The property is located south of Victory Boulevard and east of Van Nuys Boulevard with close proximity to freeways schools retail transit and major employment hubs.
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Zoning LAR3
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights, Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 2239013001
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, FHA
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, FHA
Special Listing Condition Notice Of Default
Lease Land No
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Listed by Samuel Woldeyesus Compass 949-689-1558
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