6901 Woodman Avenue
6901 Woodman Avenue
$1,159,000
8
4
3,120
3,120
$371
Description
Consisting entirely of two-bedroom apartments, the property may be repositioned by a new investor to recapture the approximately 62% in rent upside. Under the same family ownership for the past 60 years, the asset presents an opportunity to either upgrade the existing structures or potentially redevelop the parcel, given its LAR3 zoning, Tier 1 TOC status, and ED1 eligibility. Situated near the corner of Vanowen Street and Woodman Avenue, tenants at the property will soon be within a short distance...Consisting entirely of two-bedroom apartments, the property may be repositioned by a new investor to recapture the approximately 62% in rent upside. Under the same family ownership for the past 60 years, the asset presents an opportunity to either upgrade the existing structures or potentially redevelop the parcel, given its LAR3 zoning, Tier 1 TOC status, and ED1 eligibility. Situated near the corner of Vanowen Street and Woodman Avenue, tenants at the property will soon be within a short distance of the upcoming East San Fernando Valley Light Rail line, with a new station planned for the corner of Vanowen Street and Van Nuys Boulevard. In addition to providing quick transport within the Valley, this light rail line will offer residents convenient connections to both the Metrolink train and the Metro Orange and Red Lines. The city of Van Nuys and the Northeast San Fernando Valley posted a vacancy rate of less than three percent in the second quarter of 2023. Aside from the dense New York City boroughs, this vacancy rate sits among to lowest in the entire country among submarkets that contain at least 60,000 units. With relatively few new residential projects slated for the next two years, it is expected that these strong occupancy rates will remain, to the benefit of local landlords.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 6901 Woodman Avenue
Zoning
LAR3
Parcel Number2216025013
Total Units4.0
Living Area3120
Source Living AreaVendor Enhanced
AreaEast Van Nuys
Vacancy Rate0
Lot Size Area10005
Location
LISTING UPDATED: 04/16/2024 12:01 AM
Property Details for 6901 Woodman Avenue
Status | Active |
---|---|
MLS # | 24-377985 |
Days on Market | 24 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1953 |
Lot Size | 0.23 AC / 10,005 SF |
County | Los Angeles County |
Location
Building Information for 6901 Woodman Avenue
Stories1Residences-Year Built1953Building Size-Lot Size0.23 AC / 10,005 SF
Payment Calculator
$6,460 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 6901 Woodman Avenue
Property History for 6901 Woodman Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6901 Woodman Avenue
Taxable ValueLand$49,689Additions$42,620Total$92,309
Tax Record2023$1,621 ($135 / month)
Home Facts
Total Finished SqFt3,120 SqFtAbove Grade Finished SqFt3,120 SqFtLot Size10,005 SqFtStyleQuadraplexYear Built1953ZoningLAR3CountyLOS ANGELESAPN2216-025-013
Schools near 6901 Woodman Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
---|---|---|
Kittridge Street Elementary School PublicK to 5 | ||
James Madison Middle School Public6 to 8 | ||
Van Nuys Senior High School Public9 to 12 | ||
Ararat Charter School CharterK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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