6870 Woodley Avenue, Van Nuys, CA 91406
- $890,000
- List Price
- $890,000
- Status
- ACTIVE
- MLS#
- SB26191649
- Year Built
- 1954
- Lot Size
- 9,020
- Acres
- 0.21
- Lot Location
- Corner Lot, Level
- Days on Market
- 11
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
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 multifamily property with immediate value-add potential and compelling long-term possibilities.
Additional Information
- Appliances
- Gas Range, Water Heater
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Exterior Construction
- Stucco
- Roof
- Composition
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $60,173
- Operating Expense
- 30068
Listing courtesy of Listing Agent: Edward Kaminsky (EK@ITZSOLD.COM) from Listing Office: eXp Realty of California, Inc.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.