7011 Woodley Avenue
Van Nuys, CA 91406
3542 sqft | 10 beds | 0.16 acres | #24439815
Description
Well maintained 6-unit building in Lake Balboa, one of the most sought after neighborhoods in LA. Close to shopping, markets, less than 2 miles from Balboa Park. Fully rented, 5 of the units have laminate and ceramic tile floors.All the exterior facing windows have been replaced, roof completely replaced in 2019. Owner pays water/power for bldg., so the next owner can pay to have split meters for each unit thus greatly increasing the net income. Owner pays a service company to lease the washer/dryer. Each unit has wall AC unit, and wall gas heater. Four units are 1 bed 1 bath, 2 units are 3 bed 1 bath. Owners monthly expenses: $1000 water/power, $400 trash, $75 pest control, $100 gardening, $43 for laundry lease/ maintenance. Each unit has one assigned parking space. Plently of street parking. Across from the new Vallarta super market/ tortilleria/ bakery. Approx 70% of owners expense is that the building has one water meter. A new owner could apply to LADWP for permission to have this split so each unit has its own individual water bill thus greatly reducing the owner's monthly expenses. Seller is highly motvated. Seller is not doing a 1031 tax exchange so closing can be quick. (The annual rent control rent raise is February.)
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- Sewer InformationSewerTapPaid
- CountyLos Angeles
- Original List Price$1,295,000
- MLS #24439815
- MLS #24439815
- Cost1199000
- Acres0.1608
- Utility SourcePublic
- Square Feet3542
- Year Built1954
- Bedrooms10
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Robert Glinert (#CLW-X43761)
Listing Office: KW Advisors (#CLW-X74717)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
