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7303 Woodley Ave, Van Nuys, CA 91406
$950,000
7303 Woodley Ave, Van Nuys, CA 91406View this property at 7303 Woodley Ave, Van Nuys, CA 91406
7303 Woodley AveVan NuysCA91406
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Property Description
We are pleased to present 7303 Woodley Ave, a value add 5-unit multifamily property in the Lake Balboa neighborhood of Van Nuys, CA. This property hasn't been offered for sale in nearly 18 years. This is a great value add opportunity for an investor to capitalize on about 40% upside potential in rents in the future. Built in 1954, this RSO property sits on a corner lot of 0.15 acres and has 3,640 gross square feet. All five units are 725 square foot 2 bed / 1 bath units.It has been well maintained by the long-time owner with recent upgrades including repaved asphalt in the parking lot. Utilities are individually metered for gas and electricity, so the landlord is only responsible for water, sewer, and trash, plus a small amount for common area utilities. An on-site communal laundry room further contributes approximately $100 monthly in additional income.Located in the Lake Balboa neighborhood of Van Nuys, CA, near the Van Nuys Airport, the property benefits from its proximity to major freeways (405 and 101), enhancing its appeal to commuters. This strategic location, coupled with the property's existing attributes and untapped rental income potential, positions 7303 Woodley Ave as a strong investment opportunity in a strong rental pocket of Van Nuys.
Full Property Details
Full Property Details for 7303 Woodley Ave
General
- Sold For: $950,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 24-368381
- Added to Site: 74 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 10
Additional Information
- Other Features: None
Parking
- Garage Description: Uncovered
Location
- Area: Lake Balboa
- County: Los Angeles
- Driving Directions: Woodley & Sherman Way
Heating & Cooling
- Cooling Type: Other
- Heating Type: Other
Structural Information
- # Buildings: 1
- Stories/Levels: 2
- Square Feet: 3,640
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1954
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 5
- Unit Type: 2106
Unit 1
- Total Bathrooms: 1
- Bedrooms: 2
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1468
- Lot Size: 6394
- Lot Size Source: Vendor Enhanced
- Lot Dimensions: 54 x 120
- Zoning: LAR3
Financial Considerations
- Price Per Sq. Ft.: $288.46
- Assessment Year: 1954
Disclosures and Reports
- Disclosures/Reports: None
- APN: 2205-026-001
Listed and Sold by Marcus & Millichap, Filip Niculete and Marcus & Millichap, Glen Scher
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Schools
Schools serving 7303 Woodley Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
15810 Saticoy St, Van Nuys, CA 91406 | K-5 | 0.5 mi | |
7477 Kester Ave, Van Nuys, CA 91405 | 6-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 7303 Woodley Ave
Date
Details
Price
Change
Source
4/29/2024
Sold
$950,000
-9.52%
MLS
3/13/2024
Listed
$1,050,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7303 Woodley Ave, Van Nuys, CA 91406 (MLS# 24-368381) is a Multi-Family property that was sold at $950,000 on April 29, 2024. Want to learn more about 7303 Woodley Ave? Do you have questions about finding other Multi-Family real estate for sale in Lake Balboa? You can browse all Lake Balboa real estate or contact a Coldwell Banker agent to request more information.