6958 Woodman Avenue

Van Nuys, CA 91405

$8,100,000
Price
38
Beds
42
Baths
22,211 Sq. Ft.
$365 / Sq. Ft.
22,211
Sq. Ft.
$365
per Sq. Ft.

Description

The Ivy at Woodman Apartments, located in the Valley Glen neighborhood of the San Fernando Valley, is a 23-unit multi-family building built in 1964. And beautifully renovated in 2022. This property is located at 6958 Woodman Ave. and is comprised of two studio, three one-bedroom/one-bath, one one-bedroom/one and a half-bath, twelve two-bedroom/one and a half-bath, four two-bedroom/two-bath, and one three-bedroom/two-bath units across +/- 22,211 gross square feet of improvements on +/- 18,795 square...The Ivy at Woodman Apartments, located in the Valley Glen neighborhood of the San Fernando Valley, is a 23-unit multi-family building built in 1964. And beautifully renovated in 2022. This property is located at 6958 Woodman Ave. and is comprised of two studio, three one-bedroom/one-bath, one one-bedroom/one and a half-bath, twelve two-bedroom/one and a half-bath, four two-bedroom/two-bath, and one three-bedroom/two-bath units across +/- 22,211 gross square feet of improvements on +/- 18,795 square feet of land. Utilities are separately metered for electricity and gas. The property also features 23 covered parking space. This stunning turn-key opportunity has been remodeled with high end finishes and has a modern and luxurious feel. Unique to this building is that 14 of the units are townhouses, offering tenants more space and privacy. This continues to add to its long list of desirable features. Neighboring multi-family projects add value to the surrounding buildings, and position the property to capture top of market rents and higher income tenant base. The charming Mid-Century design, resort-style feel, and location are already major draws for The Ivy at Woodman Apartments. Additional drivers leading to the high rents being achieved include the elevated level of renovation and use of designer touches. The renovated units feature new hardwood floors, kitchen cabinets, counter tops, stainless-steel appliances, designer tiles, fixtures, and lighting. The bathrooms have been updated with modern vanities, tiles, and hardware. Tranquil courtyard areas and pool continue to add to the allure of this asset. Located on the southeast corner of Woodman Ave. and Hart St. West of the 170 freeway, south of Sherman Way, east of Hazeltine Ave., and north of Vanowen St. This prime location offers easy access to the freeway and proximity to many of the Valley's amenities make this highly desirable to many tenants. Please get in touch with the listing agents for a full marketing package.
  1. Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments

Property Details for 6958 Woodman Avenue

Zoning
LAR3
Parcel Number
2328010001
Total Units
23.0
Living Area
22211
Source Living Area
Vendor Enhanced
Area
Valley Glen (VG)
Vacancy Rate
0
Lot Size Area
18799

Location

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053
Add your commute
LISTING UPDATED: 03/12/2024 10:50 AM

Property Details for 6958 Woodman Avenue

StatusActive
MLS #24-361515
Days on Market67
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.43 AC / 18,799 SF
CountyLos Angeles County

Location

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053
Add your commute

Building Information for 6958 Woodman Avenue

Stories2Residences-Year Built1964Building Size-Lot Size0.43 AC / 18,799 SF

Payment Calculator

$49,750 per month

30 year fixed, 7.25% Interest

Principal and Interest

$44,205

Property Taxes

$5,545

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6958 Woodman Avenue

Community / Development
Community / Development
  • Number Of Units: 23
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 23
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $627,943
  • Net Operating Income: $423,151.00
  • Gross Income: $627,943
  • Gross Rent Multiplier: $13.30
  • Total Annual Expense: 206926
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4316
  • Lot Size Square Feet: 18799
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 23
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-23-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,050.00
  • Unit Actual Rent: $4,100.00
  • Unit Projected Rent: $4,200.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,590.00
  • Unit Actual Rent: $37,200.00
  • Unit Projected Rent: $31,080.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,345.00
  • Unit Actual Rent: $37,200.00
  • Unit Projected Rent: $28,140.00
  • Like Units: 12
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,808.00
  • Unit Actual Rent: $7,232.00
  • Unit Projected Rent: $11,600.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $3,900.00
  • Unit Projected Rent: $3,950.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,112,012.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $3,168,018.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $5,280,030.00

Property History for 6958 Woodman Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 6958 Woodman Avenue

Taxable ValueLand$3,168,018Additions$2,112,012Total$5,280,030
Tax Record2023$66,534 ($5,545 / month)
Home Facts
Total Finished SqFt22,211 SqFtAbove Grade Finished SqFt22,211 SqFtLot Size18,793 SqFtStyleMulti-Family Res (5+ Units)ZoningLAR3CountyLOS ANGELESAPN2328-010-001

Schools near 6958 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 - 6 to 8
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

Valley Charter Middle School
Charter6 to 8

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.

Similar Homes

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Similar Sold Homes

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6958 Woodman Avenue is a multi-family home for sale in Van Nuys, CA 91405. This property was listed for sale on February 23, 2024 by Iconic Investments, it's currently listed at $8,100,000. It has been on the market for a total of 67 days and was last sold on March 22, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Kittridge Street Elementary School, James Madison Middle School and Van Nuys Senior High School. 6958 Woodman Avenue is a 38-bed, 42-bath, 22,211 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.