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$1,150,000
Est. payment /mo
8 Beds
7 Baths
5,060 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,060 sqft
Price per Sqft $227
MLS Listing ID 25545333
Bedrooms 8
HOA Y/N No
Year Built 1957
Lot Size 6,250 Sqft
Property Description
*Financial Metrics* - 5.25% Cap Rate, 10.86 GRM, 110% Upside. Potential to reach a 9.01% Cap Rate post-ADU addition. *Property Features* - All one bedrooms may be converted into two bedrooms. Two units are currently delinquent on rent and have been served 3-Day Notices. Buyer will assume responsibility for any eviction, providing the opportunity to convert and re-rent these units at higher market rates. Plans will be provided. *ADU Potential* - Add one ADU in the tuck-under parking area by restriping parking against the rear wall unlocking additional income and value. *Unit Mix* - 6 total units: 5 (1+1) and 1 (3+2) that is currently vacant. *Location Benefits* - Located less than half a mile from the current Orange Line Transit Stop and future Van Nuys East Valley Rail Line hub a major transit expansion linking the Valley with the greater LA region. *Walk Score* - Very Walkable 78 Walk Score. Most errands can be accomplished on foot. *Owner Occupy* - The spacious 3+2 unit is currently vacant, offering flexibility for owner-users or immediate lease-up for investors.
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Attached Carport
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2240024008
Special Listing Condition Standard
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Listed by Kelly Morgan Houze Real Estate Management