5846 Woodman Avenue

Van Nuys, CA 91401

PRICE INCREASE

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+$995 (+0.03%)

$2,995,995

List Price

16

bed Beds

10

shower Baths

9,876 sqft

straighten / sqft

1952

calendar_month Built

Property Description

Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 7% Cap Rate/10.48 GRM with 96% upside in rents! ONE (1) 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% with a Pro-forma cap rate of 15.86%/5.37 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.

Listing Information

List Price $2,995,995
Status Active
MLS 24413159
Type Residential Income
Year Built 1952
Lot Size 13,029
Structure Size 9,876
DOM 105
Courtesy Of ARLO Real Estate Advisors
Listing Agent Rohom Tabankia DRE#01940808

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 10
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Rohom Tabankia, ARLO Real Estate Advisors 424-666-0626. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 22nd, 2024 at 9:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.