$2,375,000
$2,624,500
9.5%For more information regarding the value of a property, please contact us for a free consultation.
0.48 Acres Lot
SOLD DATE : 05/24/2022
Key Details
Sold Price $2,375,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR22008666
Sold Date 05/24/22
HOA Y/N No
Year Built 1951
Lot Size 0.477 Acres
Property Sub-Type Apartment
Property Description
7537-7541 Haskell Avenue - must be sold together. Opportunity Zone!!! Builders/Developers here is an opportunity to purchase two side by side properties totaling over 20,000 sqft of land and 120 ft of frontage on Haskell Avenue. Currently zoned R3-R1 you can build up to 23 units By-Right and 32 utilizing LA City's Density Bonus and ADU incentives programs (Buyer is advised to confirm and perform their own due diligence within the LADBS). The combined property currently consists of 6 units (a four-unit building and a duplex) to total a yearly gross income of $87,000.
Alternative Option: Buy, tear down duplex, build 12 units by right, add 4 units to existing neighboring building, reduce build cost and create additional income. Last Option: buy and inventory the project for a future build. With plenty of upside in future rents you can operate the building during the development process.
The Location: The site is in the Northern area of Van Nuys. Positioned among several multi-family properties, newly constructed buildings, industrial businesses, freeway adjacent and minutes to Van Nuys Airport and Flyaway is an makes it easy to lease. All the indicators show that the demand for housing is continuing to increase and with that said… it suggests for a strong rental market for the future.
Disclaimer: Property to be sold AS-IS with current tenants in place. Drive-by only and please do not disturb tenants.
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Zoning R1 R3
Interior
Heating See Remarks
Cooling See Remarks
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features On Site
Pool None
Community Features Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Phone Available, Sewer Available, See Remarks
View Y/N No
View None
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Suzy Ly-Laudadio Beverly and Company, Inc.
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”