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$2,995,995
Est. payment /mo
16 Beds
10 Baths
9,876 SqFt
UPDATED:
12/05/2024 01:58 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,876 sqft
Price per Sqft $303
MLS Listing ID 24413159
Bedrooms 16
HOA Y/N No
Year Built 1952
Lot Size 0.299 Acres
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.
Location
State CA
County Los Angeles
Area Vg - Valley Glen
Zoning LARD1.5
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Disposal, Refrigerator
Laundry Common Area
Exterior
Attached Garage No
Total Parking Spaces 10
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2343005014
Special Listing Condition Standard
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Listed by Rohom Tabankia • ARLO Real Estate Advisors