6948 N WOODMAN Avenue, Van Nuys CA, 91405

Active

6948 N WOODMAN Avenue

Van Nuys CA, 91405

$3,295,000

$623.58 per sqft

Active

4 Beds

5 Baths

5,284 sqft

Residential

Listed by Elham Khani with Coldwell Banker Realty 310-820-6651

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.

24384959

MLSⓇ ID

April 26, 2024

Listed

May 9, 2024

Updated

Map

6948 N WOODMAN Avenue
Van Nuys CA, 91405

Interior Features

Total Stories: 2
Bedrooms: 4
Total Bathrooms: 5
Fireplace: No
Cooling: No
Cooling Description: None
Heating: No
Heating Description: None

Exterior/Building Features

Lot Size: 0.46 Acres

Other Property Details

Days on Market: 8
Garage: No
Parking: None
Parking Total: 7
View: No
County: Los Angeles
Pool: No
Zoning: LAR3
Buyer Agency Compensation: 2%

Listing Contact: 310-820-6651

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 5/9/2024 at 3:37 PM UTC