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7507 Woodman Ave

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Address: 7507 Woodman Ave, Van Nuys, CA 91405, USA

California & West + Apartment Buildings

Created date: August 2, 2024

Date last updated: November 4, 2024

Property Description

We are pleased to present 7507 Woodman Ave, Van Nuys, where opportunity meets potential in this 34-unit apartment building.Built in 1986, this property is not subject to LA City Rent Control (Only Subject to CA State Rent Control AB 1482).Situated amidst a bustling neighborhood, this property offers a unique investment prospect for savvy buyers looking to capitalize onuntapped potential. With a strategic renovation and management plan, there is ample opportunity to enhance both the aesthetic appealand functionality of each unit, thereby increasing rental income and overall property value.The dense location offers convenient access to major transportation arteries and essential amenities, ensuring residents have easyconnections to employment centers, shopping, and dining options.The building itself features a mix of unit sizes, including 22 two bedroom, 6 one bed room, and 6 studio apartments accommodating arange of tenant needs. Amenities such as gated parking and on-site laundry facilities are in place, providing a foundation upon which tobuild additional value for residents.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$7,550,000
No. of Units:	34
Cap Rate:	6%
Year Built:	1986
Building Size:	21,159 Sq ft
Lot Size:	0.72 Acres
Opportunity Zone:	No
Price per unit:	$222,059