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Listed by Samuel Woldeyesus • Compass
$ 1,395,000
Est. payment | /mo
2,784 SqFt
$ 1,395,000
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 $501
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-bedroom, 1-bathroom cottage-style units, with three of the buildings detached, each offering private entry and attached 1-car garage and situated on a massive 10,104 sq ft lot measuring approximately 50 feet wide by 202 feet deep. The rear unit enjoys a large private backyard, ideal for owner-users or premium tenants. All units are currently occupied on month-to-month leases, generating $6,654 per month with market rents supporting potential income of $9,500 per month and representing nearly 43% upside for investors seeking immediate value-add potential. Separate gas and electric meters add flexibility for long-term investors, developers, or owner-users. The highly desirable LAR3 zoning provides multiple exit strategies, including redevelopment, small lot subdivision, or ADU expansion potential (buyer to verify). Conveniently located south of Victory Blvd and east of Van Nuys Blvd, with close proximity to freeways, schools, retail, and major employment hubs.
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