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Karen Magon

karen.magon@engelvoelkers.com +1(805) 910-7412

Listed by Edward Kaminsky • Unknown Office

$ 890,000

Est. payment -/mo

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Active Under Contract

6870 Woodley Avenue Van Nuys, CA 91406

2,858 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,858 sqft

Price per Sqft $311

MLS Listing ID SB-26191649

Year Built 1954

Lot Size 9,020 Sqft

Property Sub-Type Quadruplex

Source California Regional Multiple Listing Service (CRMLS)

Property Description

Rare value-add income opportunity with significant upside potential in a convenient Van Nuys location. Situated on an expansive 9,017 SF lot, 6870 Woodley Ave features four (4) existing residential units and offers an excellent opportunity for investors looking to reposition, improve and maximize a multifamily asset. One unit will be delivered vacant, providing an immediate opportunity to renovate and lease at current market rents, while the existing occupied units provide income from day one. Two units have 2 bed + 1 bath and the other two are 1 bed + 1 bath units. Vacant unit is a top level 1 bed + 1 bath. Property currently has 4 covered carport spaces plus room for 6 or more cars on site.
The property's generous lot size and existing configuration may offer additional opportunities for ADU development, laundry income, expansion or other improvements, creating the potential to further enhance rental income and long-term value. Buyers and developers are encouraged to independently investigate and verify all zoning, density, ADU, development and redevelopment possibilities with the City of Los Angeles and appropriate professionals.
With a combination of existing income, a vacant unit ready for renovation, large amount of open land and potential for additional units, this property presents multiple paths to create value. Conveniently located in Van Nuys with easy access to shopping, dining, schools, transportation, major freeways (101 & 405) and employment centers throughout the San Fernando Valley. 6870 Woodley is an outstanding opportunity for an investor seeking a multifamily property with immediate value-add potential and compelling long-term possibilities.

Location

State CA

County Los Angeles

Area Vn - Van Nuys

Zoning LAR3

Interior

Heating Wall Furnace

Flooring Carpet, Wood

Fireplaces Type None

Laundry See Remarks

Exterior

Parking Features On Site, Oversized, Assigned, Carport, Driveway

Pool None

Community Features Curbs, Sidewalks

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N No

View None

Building

Lot Description Corner Lot, Level, Lot 6500-9999

Sewer Public Sewer

Others

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NEARBY SCHOOLS & PROPERTIES

Karen Magon

Advisor License ID: 02119117

+1(805) 910-7412

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