6948 N Woodman Avenue, Van Nuys CA, 91405
(Active)
$3,295,000
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MLS# 24384985
Last Updated: 5/17/2024 10:42 AM
Description for
6948 N Woodman Avenue
Van Nuys, CA 91405
Consider the option to construct or establish a new nursery in Valley Glen, a highly sought-after area in Van Nuys for both multifamily and office developments. This presents an exceptional investment prospect for experienced investors and developers. The property is already set for development, boasting plans for a luxurious apartment complex consisting of 23 units spanning 31,150 square feet, along with an additional 1,200-square-foot ADU. The unit composition is diverse, featuring twenty 2-bedroom + 2-bathroom units and three 3-bedroom + 2-bathroom units, including two designated for low-income residents. Projections indicate an impressive annual gross income of $796,536. The lot, measuring 19,961 square feet, is zoned as R3 (16,817.33 square feet) and R1 (3,151.3 square feet). Market rental rates average $2.58 per square foot. Parking is ample, with a 14,566-square-foot area providing space for 36 vehicles. The average unit size is 1,132 square feet.
Price
$3,295,000
Los Angeles
24384985
Active
Description
Consider the option to construct or establish a new nursery in Valley Glen, a highly sought-after area in Van Nuys for both multifamily and office developments. This presents an exceptional investment prospect for experienced investors and developers. The property is already set for development, boasting plans for a luxurious apartment complex consisting of 23 units spanning 31,150 square feet, along with an additional 1,200-square-foot ADU. The unit composition is diverse, featuring twenty 2-bedroom + 2-bathroom units and three 3-bedroom + 2-bathroom units, including two designated for low-income residents. Projections indicate an impressive annual gross income of $796,536. The lot, measuring 19,961 square feet, is zoned as R3 (16,817.33 square feet) and R1 (3,151.3 square feet). Market rental rates average $2.58 per square foot. Parking is ample, with a 14,566-square-foot area providing space for 36 vehicles. The average unit size is 1,132 square feet.
Listing Information
| Property Type: Land, Other | ||
| 0.46 Acres | Assessor | |
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
97x205
LAR3
Driving Directions
EAST ON WOODMAN, NORTH OF VANOWEN, SOUTH OF SHERMAN WAY
Financial Considerations
| 2328010025 |
Listing Price History
Van Nuys Real Estate
Van Nuys is located in California. Van Nuys, California 91405 has a population of 174,987.
The median household income in Van Nuys, California 91405 is $52,740. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Van Nuys 91405 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 4/27/2024 | Active | $3,295,000 USD |
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