Back to Search
6948 N Woodman AVE
For Sale $2,980,000
$2,980,000
- 100 Units
- Unknown Sq Ft
- 19,961 Sq Ft
- Unknown Cap Rate
Description
Consider the opportunity to develop a new nursery or residential project in Valley Glen, a prime area within Van Nuys, popular for both multifamily and office developments. This presents an outstanding investment opportunity for seasoned investors and developers. The lot, spanning 19,961 square feet, is zoned R3 (16,817.33 sq. ft.) and R1 (3,151.3 sq. ft.). There are three development options to explore:1. **Unlimited Density**: A request can be made for unlimited density if the project is 100% affordable housing for senior citizens (55+), potentially allowing for 100+ units with no parking requirements. 2. **49 Units**: A plan that includes 49 units, with 7 units designated for low- and moderate-income tenants. 3. **RTI Ready**: The property is already entitled and RTI ready, with plans for a luxury apartment complex featuring 23 units over 31,150 square feet, along with a 1,200-square-foot ADU. Each option provides a unique opportunity for significant returns in this sought-after location.
Loading map...
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,980,000 |
| Property Type | Multi-Family |
| Usable Sqft | 0 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 2024 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2328010025 |
| MLS # | 24443865 |
| Property ID | 320883368 |
| Lot Sqft | 19,961 |
| Zoning | LAR3 |
| Total Units | 100 |
| Days on Market | 13 |
| Original List Price | $2,980,000 |
| Date Updated | October 02, 2024 |
| Date Created | September 24, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,950 | $195,000 |
| Gross Income (Yr) | $ 0 |
| Operating Expenses | $ 0 |
| Net Income (Yr) | $ 0 |
Listing Provided By
Elham Khani an agent of Coldwell Banker Realty. Lic #01989596
© 2024 CARETS and TheMLS. All rights reserved. Based on information from CARETS as of October 02, 2024 The information being provided by CARETS 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 CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Robert Crawford
REAL ESTATE AGENT