7011 Woodley Avenue
Van Nuys, CA, 91406
$1,199,000
Beds
0 Baths
SqFt
0.16 Acres
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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

Price:
$1,199,000
MLS #:
24439815
Status:
Active
Baths:
0
Address:
7011 Woodley Avenue
Type:
Residential Income
Neighborhood:
lkbllakebalboa
City:
Van Nuys
Listed Date:
Sep 16, 2024
State:
CA
ZIP:
91406
Lot Size:
7,003 sqft / 0.16 acres (approx)
Year Built:
1954
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Schools

Interior

Flooring
Laminate, Carpet
Heating
Wall Furnace, Forced Air
Window Features
Double Pane Windows

Exterior

Parking Features
Assigned, Parking Space, Concrete
Parking Spots
6.00
Pool Features
None
Roof
Composition, Shingle
Sewer
Sewer Paid
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Tenant Pays
Gas

Map

Community

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7011 Woodley Avenue
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