5846 Woodman Avenue

Van Nuys, CA 91401

$2,995,995
Price
16
Beds
10
Baths
9,876 Sq. Ft.
$303 / Sq. Ft.
9,876
Sq. Ft.
$303
per Sq. Ft.

Description

Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 7% Cap Rate/10.48 GRM with 96% upside in rents! ONE (1) 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...Investment opportunity of a 10-unit building located at 5846-5850 Woodman Avenue, Valley Glen, CA. Offered at a current 7% Cap Rate/10.48 GRM with 96% upside in rents! ONE (1) 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 7% with a Pro-forma cap rate of 15.86%/5.37 GRM. 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.
  1. Listed by Rohom Tabankia • DRE #01940808 • Brokerage DRE #01940808 • ARLO Real Estate Advisors

Property Details for 5846 Woodman Avenue

Zoning
LARD1.5
Parcel Number
2343005014
Total Units
10.0
Living Area
9876
Source Living Area
Assessor
Area
Valley Glen (VG)
Vacancy Rate
10
Lot Size Area
13029
LISTING UPDATED: 10/22/2024 02:19 PM

Property Details for 5846 Woodman Avenue

StatusActive
MLS #24-413159
Days on Market138
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1952
Lot Size0.30 AC / 13,029 SF
CountyLos Angeles County

Building Information for 5846 Woodman Avenue

Stories2Residences-Year Built1952Building Size-Lot Size0.30 AC / 13,029 SF

Property Information for 5846 Woodman Avenue

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 4
  • Type Of Units: 10
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: Rent Control
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $277,171
  • Net Operating Income: $209,822.00
  • Gross Income: $285,744
  • Cap Rate: 7.00%
  • Gross Rent Multiplier: $10.48
  • Vacancy Allow Dollar: $8,572.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 67349.48
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 13029
Parking Details
Parking Details
  • Parking Garage: Detached
  • Total Parking: 10
  • Attached Garage: No
  • Garage Structures Total: 2.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Natural Gas
  • Heating Type: Natural Gas
  • Equipment: Garbage Disposal, Range/Oven, Refrigerator
  • Laundry: Community
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Dwelling Unit, Other
Lease Terms
Lease Terms
  • Entry Date: 07-09-2024
  • Tenant Pays: Gas, Electricity, Cable TV
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,843.20
  • Unit Actual Rent: $7,686.40
  • Unit Projected Rent: $8,084.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,964.00
  • Unit Actual Rent: $5,928.00
  • Unit Projected Rent: $6,104.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,415.40
  • Unit Actual Rent: $4,830.80
  • Unit Projected Rent: $8,000.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,316.60
  • Unit Actual Rent: $5,266.70
  • Unit Projected Rent: $9,628.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $535,500.00
  • Assessed Improvement Percent: 39.62
  • Assessed Land Value: $816,000.00
  • Assessed Land Percent: 60.38
  • Assessed Total Value: $1,351,500.00

Property History for 5846 Woodman Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5846 Woodman Avenue

Taxable ValueLand$848,966Additions$557,134Total$1,406,100
Tax Record2024$17,842 ($1,487 / month)
Home Facts
Total Finished SqFt4,938 SqFtAbove Grade Finished SqFt4,938 SqFtLot Size6,515 SqFtStyleMulti-Family Res (5+ Units)Year Built1952ZoningLARD1.5CountyLOS ANGELESAPN2343-005-014

Schools near 5846 Woodman Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Erwin Elementary School
PublicK to 5

Louis D. Armstrong Middle School
Charter6 to 8

Ulysses S. Grant Senior High School
Public9 to 12

Jack London Community Day School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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5846 Woodman Avenue is a multi-family home for sale in Van Nuys, CA 91401. This property was listed for sale on July 9, 2024 by ARLO Real Estate Advisors, it's currently listed at $2,995,995. This listing's school district is Los Angeles Unified School District. Nearby schools include Erwin Elementary School, Louis D. Armstrong Middle School and Ulysses S. Grant Senior High School. 5846 Woodman Avenue is a 16-bed, 10-bath, 9,876 sqft multi-family home built in 1952.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ARLO Real Estate Advisors, Rohom Tabankia, DRE #01940808

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.