Van Nuys, CA 91401 5846 Woodman Avenue
$2,995,000
3 more
Presented By: Rohom Tabankia with ARLO Real Estate Advisors;
Home Details
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.
Presented By: Rohom Tabankia with ARLO Real Estate Advisors;
Interior Features for 5846 Woodman Avenue
Bedrooms
Total Bedrooms16
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths10
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NYes
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
General for 5846 Woodman Avenue
Additional Parcels Y/NNo
AppliancesDisposal, Refrigerator
Attached Garage No
Cap Rate7.05
Carport Y/NNo
CityVan Nuys
CoolingWallWindowUnits
CountyLos Angeles
Days on Market35
DirectionsWoodman Ave and Hatteras
DisclosuresRentControl
Full Baths
Garage Y/NNo
Gross Income284598.0
HeatingNaturalGas
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet13029.0
Lot Size UnitsSquareFeet
MLS AreaVG - Valley Glen
MobileHomeRemainsYNNo
Net Operating Income211085.0
New ConstructionNo
NumberOfUnitsTotal10
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tenant PaysCableTV, Electricity, Gas
View Y/NNo
Waterfront Y/NNo
Year Built1952
ZoningLARD1.5
Exterior for 5846 Woodman Avenue
Building Area Total9876.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2991
Lot Size Area13029.0
Lot Size SourceAssessor
Number of Buildings4
Open Parking Y/NNo
SpaNo
Total Parking10.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480