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Listed by Samuel Woldeyesus • Compass
$ 1,049,000
Est. payment /mo
Active Under Contract
6240 Hazeltine Avenue Van Nuys, CA 91401
2,784 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,784 sqft
Price per Sqft $376
MLS Listing ID OC-25130493
Year Built 1955
Lot Size 10,107 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
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 10,107 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 $4231 per month with market rents supporting approximately $9,500 per month before renovations. 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 proximity to freeways schools retail transit and major employment hubs.
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Zoning LAR3
Interior
Laundry None
Exterior
Garage Spaces 4.0
Pool None
Community Features Sidewalks, Street Lights
Building
Lot Description Lot 10000-19999 Sqft, 2-5 Units/Acre
Sewer Public Sewer
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