6948 N Woodman Avenue, Van Nuys, CA 91405 (MLS # 24384985)

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PRICE $3,295,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE n/a
LOT SIZE 19,960 sqft
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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.

DAYS ON MARKET 18 LAST UPDATED 4/27/2024
COMMUNITY Valley Glen COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Lot/Land/Acreage


ADDITIONAL DETAILS
AREA Valley Glen
BUYER'S BROKERAGE COMPENSATION 2.000 %
LOT 0.46 acre(s)
LOT DIMENSIONS 97x205
VIEW DESCRIPTION None
ZONING LAR3
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with Coldwell Banker Realty

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