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6860 Woodley Ave
Van Nuys, CA 91406 Van Nuys

$1,850,000 USD

Apartments For Sale  •  7,830 SF

Property Details

  • Property Type Apartments
  • Total Building Size 7,830 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1988
  • Zoning R3-1, Los Angeles
40 Transit Score
60 Walk Score

Highlights

Non-RSO / AB 1482 Only: Post-1978 construction (1988) exempts the property from the City of Los Angeles Rent Stabilization Ordinance.
18.5% Rent Upside to Pro Forma: Current rents average $2,109 per month across the seven units, compared to achievable market rents of $2,500 per month
Six of seven tenants are on month-to-month leases, allowing a new owner to implement rent increases without waiting for lease expirations.
Clean All-2BR/2BA Product: All seven units are identically configured twobedroom/ two-bathroom flats at approximately 1,119 square feet each.
Lake Balboa Park Proximity: The property is located within walking distance of Lake Balboa Park, a 70-acre municipal park.
First Offering in 32 Years: The property has been held by the Berkus Trust since 1994 and is being offered for sale for the first since purchase.

Amenities

  • Balcony
  • Security System

Public Transportation

Commuter RailDriveWalkDistance
Van Nuys (Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 8 min - 3.4 mi
Northridge (Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 13 min - 5.9 mi
AirportDriveWalkDistance
Bob Hope 17 min - 7.5 mi
Los Angeles International 29 min - 20.6 mi
Long Beach (Daugherty Field) 48 min - 38.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 7
Type: CoveredTandem
Included in Rent: Yes
Glen Scher 818-667-6683 Marcus & Millichap
Glen Scher 818-667-6683 Marcus & Millichap