6948 WOODMAN Avenue

Van Nuys, CA 91405

$3,295,000

Listed Price
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bed Beds

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shower Baths

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straighten $623 / sqft

calendar_month Built

Property Description

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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type None

Listing Information

Address 6948 WOODMAN Avenue
City Van Nuys
State CA
Zip 91405
County Los Angeles
Listing Agent Elham Khani DRE#01989596
Co-Listing Agent Lily Laadan Vosough DRE#02029432
Courtesy Of Coldwell Banker Realty
MLS 24384959
List Price $3,295,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 19,961
DOM 10

Exterior Information

Maps

Listing information courtesy of: Elham Khani, Lily Laadan Vosough, Coldwell Banker Realty . *Based on information from the Association of REALTORS/Multiple Listing as of May 4th, 2024 at 5:22 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.