7011 Woodley Avenue

Van Nuys, CA 91406

$1,199,000
Price
10
Beds
6
Baths
3,542 Sq. Ft.
$339 / Sq. Ft.
3,542
Sq. Ft.
$339
per Sq. Ft.

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....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.)
  1. Listed by Robert Glinert • DRE #01254216 • Brokerage DRE #01854200 • KW Advisors

Property Details for 7011 Woodley Avenue

Water Front
None
Zoning
LAR3
Style
Architectural
Cross Streets
Woodley Ave and Hart St
Parcel Number
2224010008
Total Units
6.0
Living Area
3542
Source Living Area
Assessor
LISTING UPDATED: 11/20/2024 01:25 PM

Property Details for 7011 Woodley Avenue

StatusActive
MLS #24-439815
Days on Market65
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size0.16 AC / 7,003 SF
CountyLos Angeles County

Building Information for 7011 Woodley Avenue

Stories2Residences-Year Built1954Building Size-Lot Size0.16 AC / 7,003 SF

Property Information for 7011 Woodley Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 6
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: single
  • View: No
  • View Description: None
  • View: None
  • Security Features: None
  • Direction Faces: South
  • Property Condition: Additions/Alter
  • Water: District, Meter on Property
  • Sewer: In Street Paid
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
  • Water District: LADWP
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $84,468
  • Net Operating Income: $65,052.00
  • Gross Income: $84,468
  • Gross Rent Multiplier: $14.00
  • Actual Annual Gross Rent: $84,468.00
  • Lease Per Month Year: Full Term
  • Owner Pays: Water, Electricity
  • Total Annual Expense: 19416
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.1608
  • Lot Size Square Feet: 7003
  • Lot Location: Park Nearby
Parking Details
Parking Details
  • Parking Garage: Assigned, Parking Space, Driveway - Concrete
  • Total Parking: 6
  • Covered Parking: 0
  • Open Other Spaces Total: 6
  • Parking Features: Assigned, Parking Space, Concrete
Interior Features
Interior Features
  • Levels: Multi/Split, Two
  • Cooling Type: Wall Unit(s), Air Conditioning
  • Heating: Wall Furnace, Forced Air
  • Heating Type: Wall, Forced Air
  • Flooring: Laminate, Ceramic Tile, Carpet
  • Equipment: None
  • Common Walls: Attached
  • Laundry: Community, Laundry Closet Stacked
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition, Shingle
  • Sprinklers: None
  • Windows: Double Pane Windows
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-16-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,248.00
  • Unit Actual Rent: $1,248.00
  • Unit Projected Rent: $1,400.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $965.00
  • Unit Actual Rent: $965.00
  • Unit Projected Rent: $1,200.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,375.00
  • Unit Actual Rent: $1,375.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,051.00
  • Unit Actual Rent: $2,051.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 2
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
  • Number of Carpet: 1
  • Number of Electric Meters: 0
  • Number of Gas Meters: 6
  • Number Wall AC: 6
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $215,493.00
  • Assessed Improvement Percent: 36.84
  • Assessed Land Value: $369,422.00
  • Assessed Land Percent: 63.16
  • Assessed Total Value: $584,915.00

Property History for 7011 Woodley 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 7011 Woodley Avenue

Taxable ValueLand$376,810Additions$219,802Total$596,612
Tax Record2024$8,224 ($685 / month)
Home Facts
Total Finished SqFt3,642 SqFtAbove Grade Finished SqFt3,642 SqFtLot Size7,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningLAR3CountyLOS ANGELESAPN2224-010-008

Schools near 7011 Woodley Avenue

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

William Mulholland Middle School
Public6 to 8

Birmingham Community Charter High School
Charter9 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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7011 Woodley Avenue is a multi-family home for sale in Van Nuys, CA 91406. This property was listed for sale on September 16, 2024 by KW Advisors, it's currently listed at $1,199,000. It has been on the market for a total of 65 days and was last sold on January 18, 2011. This listing's school district is Los Angeles Unified School District. Nearby schools include Bassett Street Elementary School, William Mulholland Middle School and Birmingham Community Charter High School. 7011 Woodley Avenue is a 10-bed, 6-bath, 3,542 sqft multi-family home built in 1954.

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 KW Advisors, Robert Glinert, DRE #01254216

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.