Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 6.52% Cap Rate with 96% upside in rents! Three (3) move in ready units may be delivered VACANT at the close of escrow. This property consists of two buildings with a mix of (4) 1-Bedroom/1-Bath and (2) 2-Bedroom/1-Bath (2) 3-Bedroom/1-Bath and (2) Townhouse style 2-Bedroom/1 1/2-Bath units with a combined 9,876 square feet of rentable space on a combined 13,029 square foot lot across two separate APN's. Built in 1952, this complex offers an on-site laundry room along with (4) double-car and (2) single-car enclosed garages for a total of 10 spaces behind the building. Permits paid for and in hand to convert all the garages into Four new 2bd 1ba ADU units which will be provided to the buyer. The current cap rate is 6.52% with a Pro-forma cap rate of 14.80%. In addition, all units are separately metered for gas and electricity and are equipped with either wall-unit A/C and Heat, Central A/C (two townhouse-style units) or mini split systems. E-Mail LA1 for set up sheet and showings.
Courtesy of ARLO Real Estate Advisors, Rohom Tabankia.
The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS)is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identifyprospective properties visitor may be interested in purchasing.Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX)program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than thebroker and/or agent who owns this web site.The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, isdeemed reliable but not guaranteed and should be personally verified through personal inspection by and/or withthe appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS,DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any disseminationof this information is in violation of copyright laws and is strictly prohibited.CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprisedof CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS),CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (VenturaCounty Regional Data Share).