Situated one block from Los Angeles Valley College, the property allows an investor to tap into a high-demand rental pocket while benefiting from the demographics in one of the most desirable neighborhoods within Los Angeles. The property's seismic retrofit repairs have already been completed (Buyer to verify), so a new… Read More owner is saved from an otherwise expensive capital expenditure while simultaneously benefiting from monthly passthrough payments. Plumbing at the property has already been upgraded with copper pipes, helping to reduce both maintenance and utility costs for the new owner. Just within the past three years, three of the units have been renovated with upgraded flooring, countertops, windows, and light fixtures. This helps to provide a blueprint for a new investor to remodel the remaining units, which may help recapture the 30% rent upside. Located near the intersection of Woodman Avenue and Burbank Boulevard, the property offers high visibility along one of the San Fernando Valley's main thoroughfares. The Westfield Fashion Square is just 1.3 miles away, while the high-end boutiques and fine dining destinations along Ventura Boulevard are only two miles south. Residents in the area can shop at the numerous grocery stores nearby, notably Erewhon, Whole Foods Market, and Trader Joe's. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
58
Last Updated
Property Type
Other
Beds
5
Square Ft.
3,748
Lot Size
0.13 Acres
Year Built
1957
MLS Number
25536257
30 Days Snapshot Of 91401
$1.34M
-8%
(avg) sold price
9
-10%
homes sold
60
+50%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
3,748 sq ft, Built in 1957, Levels: Two
Disclosures
As Is
Garage
Assigned
Lot
LotAcreage: 0.1263, LotSizeArea: 5,500
Parking
TotalParking: 7
Property
NumberOfUnits: 7, Zoning: LAR3
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