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Listed by Samuel Woldeyesus • Compass
$ 1,099,000
Est. payment | /mo
2,784 SqFt
$ 1,099,000
Est. payment | /mo
2,784 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,784 sqft
Price per Sqft $394
MLS Listing ID CROC25130493
HOA Y/N No
Year Built 1955
Lot Size 10,107 Sqft
Property Sub-Type Quadruplex
Source Datashare California Regional
Property Description
Rare LAR3 zoned development or value add income opportunity in a prime pocket of Van Nuys. This property features four 2 bed 1 bath cottage style units with three detached buildings offering private entries and attached 1 car garages. Sitting on an oversized 10107 square foot lot measuring approximately 50 feet wide by 202 feet deep. The rear unit has a large private backyard and will be delivered vacant which is ideal for an owner user or a premium tenant. All units are currently occupied on month to month leases with consistent paying tenants generating 6400 per month with market rents supporting approximately 9500 per month. There is meaningful upside potential for investors seeking immediate reposition opportunities. The units are separately metered for gas and electricity which adds operational flexibility for long term investors or owner users. For developers the oversized R3 lot supports approximately 12 units by right and up to approximately 20 units with TOC Tier 3 incentives which the buyer should verify. The depth of the lot provides excellent design flexibility for efficient massing site plans and potential ADU additions or small scale expansion which the buyer should verify. The property is located south of Victory Boulevard and east of Van Nuys Boulevard with close
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry No Hookups
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Adam Shoop
Broker Associate at LPT Realty | Lic# 1782227