7507 Woodman Avenue

Van Nuys, CA 91405

$7,550,000
Price
50
Beds
34
Baths
21,159 Sq. Ft.
$357 / Sq. Ft.
21,159
Sq. Ft.
$357
per Sq. Ft.

Description

We are pleased to present 7507 Woodman Ave, Van Nuys, where opportunity meets potential in this 34-unit apartment building. Built in 1986, this property is not subject to LA City Rent Control (Only Subject to CA State Rent Control AB 1482). Situated amidst a bustling neighborhood, this property offers a unique investment prospect for savvy buyers looking to capitalize onuntapped potential. With a strategic renovation and management plan, there is ample opportunity to enhance both the aesthetic appealand...We are pleased to present 7507 Woodman Ave, Van Nuys, where opportunity meets potential in this 34-unit apartment building. Built in 1986, this property is not subject to LA City Rent Control (Only Subject to CA State Rent Control AB 1482). Situated amidst a bustling neighborhood, this property offers a unique investment prospect for savvy buyers looking to capitalize onuntapped potential. With a strategic renovation and management plan, there is ample opportunity to enhance both the aesthetic appealand functionality of each unit, thereby increasing rental income and overall property value. The dense location offers convenient access to major transportation arteries and essential amenities, ensuring residents have easyconnections to employment centers, shopping, and dining options. The building itself features a mix of unit sizes, including 22 two bedroom, 6 one bed room, and 6 studio apartments accommodating arange of tenant needs. Amenities such as gated parking and on-site laundry facilities are in place, providing a foundation upon which tobuild additional value for residents.
  1. Listed by Brett Sanson • DRE #01387480 • Brokerage DRE #01238010 • Marcus & Millichap
  2. Listed by Jeffrey Louks • DRE #00908473 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 7507 Woodman Avenue

Zoning
LARD2
Parcel Number
2215004123
Total Units
34.0
Living Area
21159
Source Living Area
Assessor
Area
East Van Nuys
Vacancy Rate
none
Lot Size Area
31531
LISTING UPDATED: 10/22/2024 03:58 PM

Property Details for 7507 Woodman Avenue

StatusActive
MLS #24-418991
Days on Market129
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.72 AC / 31,531 SF
CountyLos Angeles County

Building Information for 7507 Woodman Avenue

Stories-Residences-Year Built1986Building Size-Lot Size0.72 AC / 31,531 SF

Property Information for 7507 Woodman Avenue

Community / Development
Community / Development
  • Number Of Units: 34
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Flat
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $754,136
  • Net Operating Income: $453,066.00
  • Gross Income: $763,740
  • Cap Rate: 6.00%
  • Gross Rent Multiplier: $9.72
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 301070
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.7239
  • Lot Size Square Feet: 31531
Parking Details
Parking Details
  • Parking Garage: Gated
  • Total Parking: 0
  • Parking Features: Gated
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-23-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,043.00
  • Unit Actual Rent: $44,943.00
  • Unit Projected Rent: $49,500.00
  • Like Units: 22
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,691.00
  • Unit Actual Rent: $10,147.00
  • Unit Projected Rent: $10,800.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,426.00
  • Unit Actual Rent: $8,555.00
  • Unit Projected Rent: $9,000.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,152,730.00
  • Assessed Improvement Percent: 60.0
  • Assessed Land Value: $768,483.00
  • Assessed Land Percent: 40
  • Assessed Total Value: $1,921,213.00

Property History for 7507 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 7507 Woodman Avenue

Taxable ValueLand$783,852Additions$1,175,784Total$1,959,636
Tax Record2024$27,065 ($2,255 / month)
Home Facts
Total Finished SqFt21,159 SqFtAbove Grade Finished SqFt21,159 SqFtLot Size31,570 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningLARD2CountyLOS ANGELESAPN2215-004-123

Schools near 7507 Woodman Avenue

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

James Madison Middle School
Public6 to 8

Robert Fulton College Preparatory School
Public6 to 12

Panorama High School
Public9 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

7507 Woodman Avenue is a multi-family home for sale in Van Nuys, CA 91405. This property was listed for sale on July 22, 2024 by Marcus & Millichap, it's currently listed at $7,550,000. It has been on the market for a total of 129 days and was last sold on June 25, 1996. This listing's school district is Los Angeles Unified School District. Nearby schools include Ranchito Avenue Elementary School, James Madison Middle School and Robert Fulton College Preparatory School. 7507 Woodman Avenue is a 50-bed, 34-bath, 21,159 sqft multi-family home built in 1986.

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 Marcus & Millichap, Brett Sanson, DRE #01387480; Marcus & Millichap, Jeffrey Louks, DRE #00908473

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.