Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 6.52% Cap Rate with 96% upside in rents! Three (3) move in ready units may be delivered VACANT at the close of escrow. This property consists of two buildings with a mix of (4) 1-Bedroom/1-Bath and (2) 2-Bedroom/1-Bath (2) 3-Bedroom/1-Bath and (2) Townhouse style 2-Bedroom/1 1/2-Bath units with a combined 9,876 square feet of rentable space on a combined 13,029 square foot lot across two separate APN's. Built in 1952, this complex offers an on-site laundry room along with (4) double-car and (2) single-car enclosed garages for a total of 10 spaces behind the building. Permits paid for and in hand to convert all the garages into Four new 2bd 1ba ADU units which will be provided to the buyer. The current cap rate is 6.52% with a Pro-forma cap rate of 14.80%. In addition, all units are separately metered for gas and electricity and are equipped with either wall-unit A/C and Heat, Central A/C (two townhouse-style units) or mini split systems. E-Mail LA1 for set up sheet and showings.
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DAYS ON MARKET
|
64
|
LAST UPDATED
|
3/24/2024
|
|
YEAR BUILT
|
1952
|
COMMUNITY
|
Valley Glen
|
|
COUNTY
|
Los Angeles
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STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Disposal, Refrigerator |
| AREA |
Valley Glen |
| BUYER'S BROKERAGE COMPENSATION |
2.500 % |
| HEAT |
Natural Gas |
| LOT |
0.3 acre(s) |
| STORIES |
2 |
| ZONING |
LARD1.5 |
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Listed with ARLO Real Estate Advisors
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/20/24 1:48 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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